Author

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 19654. (Read 26710335 times)

legendary
Activity: 3948
Merit: 11416
Self-Custody is a right. Say no to"Non-custodial"
Yep. It's not great you guys :& Last chance to buy above 420?

If you think it's going down, then you buy at the lower price point.... so?   Where is that going to be?  $418?  $412?  $401?  $390?  $372?   or some other number? 

doesn't hurt to buy on the way down, if you are not sure about at what point it is going to stop... just gotta save enough money if it keeps going down to be able to buy moar.   Wink
legendary
Activity: 1106
Merit: 1007
Hide your women
If you double the blocksize, you also double the fees miners get paid without increasing the rate at all!
This might increase the cost of mining by some tiny fraction but nowhere near 100%. So let's be generous and say 2MB blocks will cost miners 110% of 1 MB Blocks.

So how about this calculation:

scenario A: 12.5BTCblockreward+3BTCxactionfees=15.5 BTCminerreward

scenario B: (12.5BTCblockreward+6BTCxactionfees)/1.1=16.818BTCminerreward

And that doesn't even factor in the very likely probability that BTC exchange rate will go up significantly due to the added utility.

So why do miners object? Could it be that they will get no reward at all because they are mining over a slow internet connection (through TOR or behind the Great Firewall) that means they cannot compete with miners with faster connections?

All the other objections are just to obscure this one. The real one. Forget the decentralization argument. Forget the "any hard fork is too radical" rationalization. These are not honest people and they are taking wealth, not making wealth.



Maybe cause they want to show solidarity and are hoping for an organic growth of the core without intensifying the fighting and splitting in pro/against camps  Roll Eyes  imagine what would that do to a price



Maybe also there is a sense that "if it's not broke, then why fix it?"

It IS broken. There was a five year exponential trend that was decisively broken, despite wider adoption, dozens of new use cases, and millions in VC investments. Why? Gavin, Garzik, and Hearn are experts who know what they are talking about.  I don't know code as well as them, but I know economics. It's the science of incentives. All you have to do to get a project to work is to get the incentives right, but if you get them wrong, nothing else matters.

You can have cancer for a long time before it kills you. You can have it for a long time before you even notice. Some problems don't go away when you ignore them. Some problems get worse. If your doctor tells you you have cancer, it may be wise to get a second opinion, but it's extremely dangerous to ignore him, particularly if there are noticeable symptoms.

Scale or die.
legendary
Activity: 3948
Merit: 11416
Self-Custody is a right. Say no to"Non-custodial"
Will Bitcoin ever find a bottom?

is crypto done???




Yep.... bitcoin's current situation is so horrible that it is preparing to CRASH.....

UP!!!!!

 Cheesy Cheesy Cheesy
It is crashing right now, if seeing it drop a dollar per minute is not foreboding then I don't know what is  Huh

$433 then all the way down to $421. Ohhh the humanity!  Shocked



These ups and downs should be expected, especially since the volume has been so low in the past few weeks.  Accordingly, if the price is pushed either up or down, then there will be an increase in volume.   A person or entity with only a few million dollars (maybe $20 million) can be considerably effective in playing various price manipulation games when the volume is so low.

When the volume picks up, on the other hand, then it takes a bit more capital to attempt price manipulations.





legendary
Activity: 2833
Merit: 1851
In order to dump coins one must have coins
If you double the blocksize, you also double the fees miners get paid without increasing the rate at all!
This might increase the cost of mining by some tiny fraction but nowhere near 100%. So let's be generous and say 2MB blocks will cost miners 110% of 1 MB Blocks.

So how about this calculation:

scenario A: 12.5BTCblockreward+3BTCxactionfees=15.5 BTCminerreward

scenario B: (12.5BTCblockreward+6BTCxactionfees)/1.1=16.818BTCminerreward

And that doesn't even factor in the very likely probability that BTC exchange rate will go up significantly due to the added utility.

So why do miners object? Could it be that they will get no reward at all because they are mining over a slow internet connection (through TOR or behind the Great Firewall) that means they cannot compete with miners with faster connections?

All the other objections are just to obscure this one. The real one. Forget the decentralization argument. Forget the "any hard fork is too radical" rationalization. These are not honest people and they are taking wealth, not making wealth.



Maybe cause they want to show solidarity and are hoping for an organic growth of the core without intensifying the fighting and splitting in pro/against camps  Roll Eyes  imagine what would that do to a price



Maybe also there is a sense that "if it's not broke, then why fix it?"







Not broke ... yet. Don't think anyone can argue that 1MB 3tps is sustainable.
legendary
Activity: 3948
Merit: 11416
Self-Custody is a right. Say no to"Non-custodial"
If you double the blocksize, you also double the fees miners get paid without increasing the rate at all!
This might increase the cost of mining by some tiny fraction but nowhere near 100%. So let's be generous and say 2MB blocks will cost miners 110% of 1 MB Blocks.

So how about this calculation:

scenario A: 12.5BTCblockreward+3BTCxactionfees=15.5 BTCminerreward

scenario B: (12.5BTCblockreward+6BTCxactionfees)/1.1=16.818BTCminerreward

And that doesn't even factor in the very likely probability that BTC exchange rate will go up significantly due to the added utility.

So why do miners object? Could it be that they will get no reward at all because they are mining over a slow internet connection (through TOR or behind the Great Firewall) that means they cannot compete with miners with faster connections?

All the other objections are just to obscure this one. The real one. Forget the decentralization argument. Forget the "any hard fork is too radical" rationalization. These are not honest people and they are taking wealth, not making wealth.



Maybe cause they want to show solidarity and are hoping for an organic growth of the core without intensifying the fighting and splitting in pro/against camps  Roll Eyes  imagine what would that do to a price



Maybe also there is a sense that "if it's not broke, then why fix it?"





legendary
Activity: 2833
Merit: 1851
In order to dump coins one must have coins
If you double the blocksize, you also double the fees miners get paid without increasing the rate at all!
This might increase the cost of mining by some tiny fraction but nowhere near 100%. So let's be generous and say 2MB blocks will cost miners 110% of 1 MB Blocks.

So how about this calculation:

scenario A: 12.5BTCblockreward+3BTCxactionfees=15.5 BTCminerreward

scenario B: (12.5BTCblockreward+6BTCxactionfees)/1.1=16.818BTCminerreward

And that doesn't even factor in the very likely probability that BTC exchange rate will go up significantly due to the added utility.

So why do miners object? Could it be that they will get no reward at all because they are mining over a slow internet connection (through TOR or behind the Great Firewall) that means they cannot compete with miners with faster connections?

All the other objections are just to obscure this one. The real one. Forget the decentralization argument. Forget the "any hard fork is too radical" rationalization. These are not honest people and they are taking wealth, not making wealth.



Maybe cause they want to show solidarity and are hoping for an organic growth of the core without intensifying the fighting and splitting in pro/against camps  Roll Eyes  imagine what would that do to a price

They are showing solidarity with each other, but open hostility to their customers, the users, the holders, the companies and the people that have done the most to promote Bitcoin. That is not how successful business is done.

"organic" growth is a stalling term. There's nothing organic about an arbitrary cap imposed by a cabal of sidechain peddlers and miners with slow connections.  The DDOS attacks and censorship wasn't decreasing the fighting.  Those tactics were used EXCLUSIVELY used by smallblockers.  

Again still think that's better than two (or more) waring factions trying to convince more people to stick to their chain
full member
Activity: 210
Merit: 100
oh go all these mother fucking cheap coins, i can't wait to buy on my payday LOL

Im to busy watching the economy collapse to even care at this point, also in live view

https://www.google.com/finance?cid=7521596
legendary
Activity: 1582
Merit: 1006
beware of your keys.

Shocked it is crashing from $430! how could this happen? anyone here gets any news about the issue to the bitcoin price?

The elevator stopped working I think I'll take the window home today.

Huh what do you mean? how can you take the window home?
legendary
Activity: 1106
Merit: 1007
Hide your women
If you double the blocksize, you also double the fees miners get paid without increasing the rate at all!
This might increase the cost of mining by some tiny fraction but nowhere near 100%. So let's be generous and say 2MB blocks will cost miners 110% of 1 MB Blocks.

So how about this calculation:

scenario A: 12.5BTCblockreward+3BTCxactionfees=15.5 BTCminerreward

scenario B: (12.5BTCblockreward+6BTCxactionfees)/1.1=16.818BTCminerreward

And that doesn't even factor in the very likely probability that BTC exchange rate will go up significantly due to the added utility.

So why do miners object? Could it be that they will get no reward at all because they are mining over a slow internet connection (through TOR or behind the Great Firewall) that means they cannot compete with miners with faster connections?

All the other objections are just to obscure this one. The real one. Forget the decentralization argument. Forget the "any hard fork is too radical" rationalization. These are not honest people and they are taking wealth, not making wealth.



Maybe cause they want to show solidarity and are hoping for an organic growth of the core without intensifying the fighting and splitting in pro/against camps  Roll Eyes  imagine what would that do to a price

They are showing solidarity with each other, but open hostility to their customers, the users, the holders, the companies and the people that have done the most to promote Bitcoin. That is not how successful business is done.

"organic" growth is a stalling term. There's nothing organic about an arbitrary cap imposed by a cabal of sidechain peddlers and miners with slow connections.  The DDOS attacks and censorship wasn't decreasing the fighting.  Those tactics were used EXCLUSIVELY used by smallblockers. 
hero member
Activity: 714
Merit: 500
The elevator stopped working I think I'll take the window home today.
legendary
Activity: 3080
Merit: 1688
lose: unfind ... loose: untight
the real reason we are at this price is because the federal govy pumped bitcoin using back channels so they could make a quick profit on the marshal's auction ..

You persist in saying this. Yet you have not offered your theory as to the mechanism by which the gov accomplished this pump, let alone provide any evidence thereof.
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
member
Activity: 84
Merit: 10
Yep. It's not great you guys :& Last chance to buy above 420?
legendary
Activity: 3080
Merit: 1688
lose: unfind ... loose: untight
It's just like the highway. You pay more for your own car, you go faster than the bus. You pay a cab, you go faster than the bus. If you want to go "economy", you keep your money and take the bus.

Well, no. It is not just like the highway. The difference is that when traffic increases to max safe capacity, additional lanes are constructed.
hero member
Activity: 728
Merit: 500
EtherSphere - Social Games
Will Bitcoin ever find a bottom?

is crypto done???




Yep.... bitcoin's current situation is so horrible that it is preparing to CRASH.....

UP!!!!!

 Cheesy Cheesy Cheesy
It is crashing right now, if seeing it drop a dollar per minute is not foreboding then I don't know what is  Huh

$433 then all the way down to $421. Ohhh the humanity!  Shocked
legendary
Activity: 2338
Merit: 1035
legendary
Activity: 1159
Merit: 1001
is crypto done??  Huh

legendary
Activity: 2833
Merit: 1851
In order to dump coins one must have coins
If you double the blocksize, you also double the fees miners get paid without increasing the rate at all!
This might increase the cost of mining by some tiny fraction but nowhere near 100%. So let's be generous and say 2MB blocks will cost miners 110% of 1 MB Blocks.

So how about this calculation:

scenario A: 12.5BTCblockreward+3BTCxactionfees=15.5 BTCminerreward

scenario B: (12.5BTCblockreward+6BTCxactionfees)/1.1=16.818BTCminerreward

And that doesn't even factor in the very likely probability that BTC exchange rate will go up significantly due to the added utility.

So why do miners object? Could it be that they will get no reward at all because they are mining over a slow internet connection (through TOR or behind the Great Firewall) that means they cannot compete with miners with faster connections?

All the other objections are just to obscure this one. The real one. Forget the decentralization argument. Forget the "any hard fork is too radical" rationalization. These are not honest people and they are taking wealth, not making wealth.



Maybe cause they want to show solidarity and are hoping for an organic growth of the core without intensifying the fighting and splitting in pro/against camps  Roll Eyes  imagine what would that do to a price
legendary
Activity: 1106
Merit: 1007
Hide your women
If you double the blocksize, you also double the fees miners get paid without increasing the rate at all!
This might increase the cost of mining by some tiny fraction but nowhere near 100%. So let's be generous and say 2MB blocks will cost miners 110% of 1 MB Blocks.

So how about this calculation:

scenario A: 12.5BTCblockreward+3BTCxactionfees=15.5 BTCminerreward

scenario B: (12.5BTCblockreward+6BTCxactionfees)/1.1=16.818BTCminerreward

And that doesn't even factor in the very likely probability that BTC exchange rate will go up significantly due to the added utility.

So why do miners object? Could it be that they will get no reward at all because they are mining over a slow internet connection (through TOR or behind the Great Firewall) that means they cannot compete with miners with faster connections?

All the other objections are just to obscure this one. The real one. Forget the decentralization argument. Forget the "any hard fork is too radical" rationalization. These are not honest people and they are taking wealth, not making wealth.



legendary
Activity: 2833
Merit: 1851
In order to dump coins one must have coins
I'm not sure if you guys have read this yet but it's crazy...

Mike Hearn's exit mic drop

I find it tough to dispute his arguments. It's getting close to fork or die time...

https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.m7ipd85nk

Quote
"...if decentralisation is what makes Bitcoin good, and growth threatens decentralisation, then Bitcoin should not be allowed to grow.

Honestly it's hard to disagree with this statement. Growing now at a cost of centralization is very short sighted. I do believe that centralization is Bitcoins' Achilles' heel. Now how much centralization would a 2MB or an 8MB block cause that can be debated. Don't really get the end of the world catastrophe just yet. Lets get SegWit in there, and bump blocks to 2MB to be extra conservative, and have a sidechain do 0 confs, then we party!
Jump to: