Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 17704. (Read 26715535 times)

the last block happened ~30 mins ago and  ~5mbs (3100) of new txs are waiting (on top of the queue from before the last block).

there is 1 big question: should bitcoin be the one coin to bind them all, meaning forks and others side chains are seen as uncomplimentary.

in the one coin optic 8mb, 80mb or 80 Gbs will never be enough... but in my opinion it's unsafe and not very resilient. I prefer to keep the original network at 1mb (and why 8mbs? to please the "chineses", why not directly 10mb?).

Exactly, but who has the control over block size other than the pool operator. P2Pool?

The limit should be determined by miners.  Bitcoin core developers controlling block size is just another form of price fixing/rationing.  We all should know how well that works out by now.

minners are free to pick the pool they mine at.

Actually, pools control the blocksize.

The limit should be determined by miners.  Bitcoin core developers controlling block size is just another form of price fixing/rationing.  We all should know how well that works out by now.

I don't understand your constant whining guys. What's the problems with the fees and the limiting number of txs per day? If you want to get in the block pay more. it's so easy.

yes bitcoin isn't your free coins that you can get anything for free with it. It's not like what you are used to. if you want to get in a block pay the fees, as such you support the miners and the networks. if you find it too expensive why aren't you mining?

that's right because it's not free. you want a free miner, with free electricity...

I hope that some of you will reconsider their positions.

with bitcoin you can store and move value very efficiently and cheaply and safely against all regulations or actors.

according to the graphic above EC has ~40%  and EC+8MB has ~60%

wow, i didnt realize we are so DOOOOOOMED!

last chance to sell V1 coins.

I would not be so sure about that. The hashpower distribution seems to be dangerously skewing to bigblockers side:



Actually, all it now takes is to persuade a couple of big Chinese pools to change their signaling from "8mb" to BU, and BU activation threshold is almost reached.

It's ugly, $1188.

IMO, much of this can indeed be blamed squarely on those (core developers and miners) who just cannot seem to get their acts together and actually solve problems.

And they keep saying Bitcoin is strong.  Mmm-hmm...

but all this forking talk is premature, none of this crap really means anything untill someone gets at least 51%.. even then... IMO if its "meant to be" we will only tell 5-15% of nodes to "Fork-off" as we upgrade the system(whether it's BU or Segwit), so no biggie really.

It's a bloodbath.

What did you expect with huge fees and congestion of the network?

Fiverr.com just dropped Bitcoin as a payment method since fees are amounting to 20-40% of all bitcoin transactions.

Good Game, it was fun while it lasted.

The idiots over at Kore ruined this rally.

The idiots over at Kore ruined this rally.

Bitcoin is under a Trust Attack: https://medium.com/@lukeparker/the-trust-attack-a6241a08a9cd

srsly? that article is from feb 2

Bitcoin is under a Trust Attack: https://medium.com/@lukeparker/the-trust-attack-a6241a08a9cd

Subject: File Number SR-BatsBZX-2016-30
From: Michael Lee

March 6, 2017

Dear Commissioners,

I have been a bitcoin enthusiast for many years now but I do feel that an ETF at this time would be a very risky investment vehicle for the general public, as well as detrimental to the future of bitcoin. On my first point, right now bitcoin is at a crossroads in its development which has split the community in two. This is in regards to the issue of the "hard fork" in the software code noted in the S-1 amendments, which is in reality more serious than is explained as a risk factor. For the better part of a year, there has been manipulation on the bitcoin network by one side of the community in an attempt to flood the transaction pool thus slowing transaction speeds down and raising fees. There is also the threat of a forced consensus by this same group that involves investing millions to buy more mining equipment and raising mining share for one version of code, resulting in a forced "fork" of the bitcoin network. Once they have raised their percentage of the network high enough, a coup of the bitcoin network is possible. Basically, the truth is no one is completely sure which version of bitcoin is the right way to go with, only that one of these sides will eventually win out. And even then, no one can say with absolute certainty that the improvements to the network will be successful and not break the entire bitcoin experiment altogether. Right now we are in very shaky times regarding the future of scaling and development for bitcoin.

In regards to price, the price of bitcoin is being heavily manipulated at this very moment on exchanges which somehow began the day of the SEC's Feb 14th meeting but before the news of this very meeting was released to the public. Currently, we are at all time highs based on rumors and speculation on this meeting alone and it feels like we are again in a price bubble which could result in a huge loss for new investors. An approval of the COIN ETF at this time would only exacerbate this bubble and result in a price crash even before ETF trading will be fully available. As you may well know, there is no regulation or oversight right now for our 24 hour worldwide market of exchanges. Earlier this year in China, the price reached an all time high of $1289 per bitcoin only to crash 58% down to $750 based on tweets that the PBOC was about to hold private meetings with the Chinese bitcoin exchanges. This news was tweeted out by one of the very exchanges they were meeting with, BTCChina. Price manipulation by the Chinese has been rampant since the beginning in the form of zero-fee trading resulting in huge, fake volume by several of the Chinese exchanges combined with empty threats of banning bitcoin by the PBOC, resulting in huge price drops each time. It's also very important to note that the PBOC has recently announced that they will be releasing their own digital currency called the RMBCoin at some point in the future, in order to stem the flow of capital flights that bitcoin is used for. This could certainly result in the outright ban of bitcoin in a country that holds a very large percentage of the world's bitcoin miners, which is possibly 50% or more.

I am optimistic about bitcoin's future in the long run. It is not a ponzi scheme as others claim. However, due to the reasons listed above, I feel that it would be a hasty decision to approve an ETF to the general public at this time before the software issues, price manipulation and certain issues with China are fully resolved.

Anyone know what's causing the crash?