Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18402.

AlexGR

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Quote from: Fatman3001 on July 28, 2016, 06:46:24 PM

Quote from: AlexGR on July 28, 2016, 06:19:49 PM

Quote from: Fatman3001 on July 28, 2016, 05:37:13 PM

Any news about wtf is going on with scaling? Any thoughts on Bitcoins lacklustre performance lately?

https://bitcoinfees.21.co/

Scaling is so "bad" that in the last 24hr

125 txs were conducted with zero fees
48k txs were conducted with 1-10 satoshi /byte
11.5k txs were conducted with 11-20 satoshi /byte
19.5k txs were conducted with 21-30 satoshi /byte

If there was a capacity issue the above would be impossible at such dirt-cheap levels.

Furthermore, the attempt to pin "scaling" and "price" together has failed at levels like 200-300-400 etc when people were saying "oh it will never go beyond 200 because ...scaling".... and then the same at 300, 400, etc.

I didn't ask whether it was a problem. I'm asking how it's going with the solutions.

Of course the chain won't stay saturated forever. Nobody "needs" Bitcoin now.

When it doesn't work properly people stop using it.

Hence the price.

Have you noticed that what is happening is exactly what Gavin said was going to happen?

The price has grown from 200 to 400 to 660. If price is an indicator of whether it's working well, I guess it's working damn well.

As for saturation, the chain can be saturated for ever no matter the block size, even 1gb blocks. If it costs near zero to broadcast a tx, why wouldn't it be "saturated"? The only question is whether miners are ok processing these txs or not. Then someone will bitch about "ohhh the mempool is saturated and miners don't process my 0.000001$ tx" Cry

AlexGR

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Quote from: adamstgBit on July 28, 2016, 06:33:48 PM

Quote from: AlexGR on July 28, 2016, 06:19:49 PM

Quote from: Fatman3001 on July 28, 2016, 05:37:13 PM

Any news about wtf is going on with scaling? Any thoughts on Bitcoins lacklustre performance lately?

https://bitcoinfees.21.co/

Scaling is so "bad" that in the last 24hr

125 txs were conducted with zero fees
48k txs were conducted with 1-10 satoshi /byte
11.5k txs were conducted with 11-20 satoshi /byte
19.5k txs were conducted with 21-30 satoshi /byte

If there was a capacity issue the above would be impossible at such dirt-cheap levels.

Furthermore, the attempt to pin "scaling" and "price" together has failed at levels like 200-300-400 etc when people were saying "oh it will never go beyond 200 because ...scaling".... and then the same at 300, 400, etc.

Which fee should I use?

The fastest and cheapest transaction fee is currently 60 satoshis/byte, shown in green at the top.
For the median transaction size of 292 bytes, this results in a fee of 17,520 satoshis (0.11$).

Yes, that's first block inclusion. FASTEST.

Fatman3001

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Activity: 1554

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Make Bitcoin glow with ENIAC

Quote from: AlexGR on July 28, 2016, 06:19:49 PM

Quote from: Fatman3001 on July 28, 2016, 05:37:13 PM

Any news about wtf is going on with scaling? Any thoughts on Bitcoins lacklustre performance lately?

https://bitcoinfees.21.co/

Scaling is so "bad" that in the last 24hr

125 txs were conducted with zero fees
48k txs were conducted with 1-10 satoshi /byte
11.5k txs were conducted with 11-20 satoshi /byte
19.5k txs were conducted with 21-30 satoshi /byte

If there was a capacity issue the above would be impossible at such dirt-cheap levels.

Furthermore, the attempt to pin "scaling" and "price" together has failed at levels like 200-300-400 etc when people were saying "oh it will never go beyond 200 because ...scaling".... and then the same at 300, 400, etc.

I didn't ask whether it was a problem. I'm asking how it's going with the solutions.

Of course the chain won't stay saturated forever. Nobody "needs" Bitcoin now.

When it doesn't work properly people stop using it.

Hence the price.

Have you noticed that what is happening is exactly what Gavin said was going to happen?

Meuh6879

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noobs don't use mobile phone to spend and receive bitcoins (with automated fees control).

why ?

adamstgBit

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Trusted Bitcoiner

the problem.

1)newbie sends a TX without knowing the appropriate fee/byte
2)it doesn't confrim for hours.
3)he sends another TX with a higher fee/byte
4)he repeats steps 2 & 3 a few times
5) he gives up, "bitcoin is broken"
6) next day he wakes up and all his TX expect for the first one have confrimed.
7) he now tries contacts bitpay support to try and get the extra 4x32$ that he over paid.

8 ) hes happy that bitcoin works so well.

adamstgBit

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Trusted Bitcoiner

Quote from: AlexGR on July 28, 2016, 06:19:49 PM

Quote from: Fatman3001 on July 28, 2016, 05:37:13 PM

Any news about wtf is going on with scaling? Any thoughts on Bitcoins lacklustre performance lately?

https://bitcoinfees.21.co/

Scaling is so "bad" that in the last 24hr

125 txs were conducted with zero fees
48k txs were conducted with 1-10 satoshi /byte
11.5k txs were conducted with 11-20 satoshi /byte
19.5k txs were conducted with 21-30 satoshi /byte

If there was a capacity issue the above would be impossible at such dirt-cheap levels.

Furthermore, the attempt to pin "scaling" and "price" together has failed at levels like 200-300-400 etc when people were saying "oh it will never go beyond 200 because ...scaling".... and then the same at 300, 400, etc.

Which fee should I use?

The fastest and cheapest transaction fee is currently 60 satoshis/byte, shown in green at the top.
For the median transaction size of 292 bytes, this results in a fee of 17,520 satoshis (0.11$).

AlexGR

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Activity: 1708

Merit: 1049

Quote from: Fatman3001 on July 28, 2016, 05:37:13 PM

Any news about wtf is going on with scaling? Any thoughts on Bitcoins lacklustre performance lately?

https://bitcoinfees.21.co/

Scaling is so "bad" that in the last 24hr

125 txs were conducted with zero fees
48k txs were conducted with 1-10 satoshi /byte
11.5k txs were conducted with 11-20 satoshi /byte
19.5k txs were conducted with 21-30 satoshi /byte

If there was a capacity issue the above would be impossible at such dirt-cheap levels.

Furthermore, the attempt to pin "scaling" and "price" together has failed at levels like 200-300-400 etc when people were saying "oh it will never go beyond 200 because ...scaling".... and then the same at 300, 400, etc.

Fatman3001

legendary

Activity: 1554

Merit: 1014

Make Bitcoin glow with ENIAC

Any news about wtf is going on with scaling? Any thoughts on Bitcoins lacklustre performance lately?

Quote from: JayJuanGee on July 28, 2016, 04:47:33 PM

Actually should figure that fatty would chime in with a bit of her white knighting. Kiss

After that round of cornholing the only one who needs a white knight is you.

JayJuanGee

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Self-Custody is a right. Say no to"Non-custodial"

Quote from: adamstgBit on July 28, 2016, 01:44:52 PM

Quote from: Paashaas on July 28, 2016, 01:33:55 PM

Have patience friend, Bitcoin ETF's will come.

in 6months?

Hello?

Soon. ^TM

JayJuanGee

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Self-Custody is a right. Say no to"Non-custodial"

Quote from: Dafar on July 28, 2016, 01:03:38 PM

Quote from: JayJuanGee on July 28, 2016, 12:14:38 PM

Quote from: Dafar on July 28, 2016, 10:21:15 AM

Quote from: Paashaas on July 28, 2016, 09:42:10 AM

Bitcoin ETF approval within 5 months.

Quote

A new exchange traded fund designed to track the price of Bitcoin may be on its way to market. New paperwork has been filed with the SEC for the new ETF, titled Solid Bitcoin Trust, according to reports from ETF.com.

SolidX Partners Inc. says the Bitcoin within the ETF will be insured in case of theft, destruction or computer fraud, with the Bank of New York Mellon acting as custodian.

The new fund requires a rule change filing with SEC by the carrying exchange, due to Bitcoin’s status as a new asset type. The fund will kick off with an initial offering value at around $1 million.

Approval is pending based on the approval of the rule change filing; a precedent has since been set by the Winklevoss Bitcoin ETF, which the infamous brothers filed for on June 30. It’s anticipated that fund will receive approval by the end of 2016, with the SolidX ETF receiving approval by early 2017.

http://www.wealthprofessional.ca/news/etfs/new-bitcoin-etf-on-its-way-to-market-211198.aspx

Wasn't the Winklevoss ETF supposed to be approved by 2014? Then again by 2015? Now by the end of 2016? I keep hearing the same thing every year... what's different this time?

Also, didn't the Winklevoss release their ETF called Gemini? Or is that just an exchange? I'm so confused because I've been hearing about the same ETF for the last 2 years and nothing changes

Did someone promise you something too?

Try a little harder with your nonsense.

By now, even the biggest of idiots have figured out that Gemini is an exchange and an exchange is different from an ETF.

We could have given you a pass for these kinds of questions a year ago (when Gemini first came out), but a year later, come on?

What nonsense you stupid motherfucker the Winklevoss ETF has been in the news as "soon to be approved" since 2014, I'm just asking how this news is any different.... it's the same shit over and over again. If I remember it was supposed to be approved by the end of 2014

Why are you so pissed, you on your period? Don't ever talk to me like that again bitch boy

Poor lillie thing.

You ask a bunch of dumb questions, then you expect posters to respect you in a quasi-anonymous forum. Roll Eyes

I am not pissed at all regarding the topic, just responded to your silly-ass post. On the other hand, you seem to be a little bit sensitive to engage in substantive BTC discussion. Cheesy

and maybe even easily distracted. Tongue

Quote from: adamstgBit on July 28, 2016, 01:10:57 PM

Can't blame Dafar
JJ called him an idiot for no good reason.

JJ must be having a bad day...

Actually, I agree that my language may have been a bit stronger than necessary, but this is the internet, no? Shouldn't we expect that sometimes the tone of writing (especially in a quasi-anonymous forum) may be a bit off in one direction or another?

Quote from: Fatman3001 on July 28, 2016, 01:19:05 PM

JJG is "special"

Actually should figure that fatty would chime in with a bit of her white knighting. Kiss

European Central Bank

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Quote from: adamstgBit on July 28, 2016, 01:21:41 PM

ya if the Winklevoss ETF has been waiting for aproval for years, why would this one get approved?

MAYBE its because of " Bank of New York Mellon acting as custodian. " could be they will get aproved because the way the fund is setup makes the SEC feel more comfortable about it??

but i think there is a good chance this ETF will be the same story as the twins ETF, coming SOON^TM

nope. it's all about their new exchange willing to change the rule necessary to list it. nasdaq did nothing to get it rolling. bats, or whatever it's called, has.

that rule change is the key to advancing the application. before that it was dreamland. we'll know if this rule is approved soon. if it is then one of the major obstacles is gone and the etf application is a whole lot closer.

Quote from: Elwar on July 28, 2016, 02:17:47 PM

The ETF won't go through until they get to the point when the SEC opens it up for public comment for 45 days. Then after those 45 days are over....rocketships.

i thought it already had, or maybe that was just the rule change. in that case it received a grand total of two comments. one from some guy who said it sounded kinda nice. the other was a million negative words from that asshole brazilian professor.

yefi

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Quote from: Dafar on July 28, 2016, 01:45:46 PM

I didn't say it was approved.... we have been hearing about it waiting to be approved since 2014. So what exactly is new about this:

[...]

Sounds meaningless to me because we have been hearing this since 2014.

[...]

Still waiting..... and 2 years later we have another article that claims it's "still waiting" ...sorry if I'm not excited until we see a confirmation. Anticipation isn't confirmation

The SolidX ETF isn't the Winklevii's COIN ETF. The latter is awaiting comment on a rule change for listing on BATS. NASDAQ never filed for that rule change. There is now a timetable for acceptance, starting with a 45-day period for comment with several possible extensions. I guess it still could all fall apart and be rejected, but it's undeniably further ahead than previously.

savetherainforest

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Plant 1xTree for each Satoshi earned!

Quote from: Elwar on July 28, 2016, 07:51:44 AM

Quote

So, one might pose this question: why is bitcoin so hot in Malaysia?
For starters, the ringgit has been on a losing streak since the US authorities announced a major money laundering and embezzlement investigation into state-owned 1Malaysia Development Bhd, which allegedly laundered about $1 billion of the misappropriated funds through banks in the U.S. The Malaysian ringgit dropped about 2.7% last week - the biggest drop since September - due to the negative press surrounding the international investigation, TheMalayOnline reports. Low oil prices are also having a negative impact on the outlook of the Malaysian economy and currency, as Malaysia is Asia’s only major net oil exporting nation.

Well ... you know what this means?? .... Nope! U'r wrong! .... I tell you what it means...

The world is sick of the US dollar monopoly game and keeps imposing regulation where they should not have, and they "want to break free!" Meaning, the dollar will be dumped as soon as possible! "Drop it like its hot!" (Good Job Snoop Dog)

Meaning everything pegged to the US dollar will skyrocket in prices! ... And them "poor" americans soon to become actual poor after the devaluation... They will riot and revolt, do more mass shootings, kidnappings, heists, food stores will get closed.... This sounds familiar... Oh wait!... Yes! .. We have that! And we see that happening now in Venezuhela!!!

DaRude

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In order to dump coins one must have coins

Quote from: White sugar on July 28, 2016, 02:19:45 PM

Quote from: adamstgBit on July 28, 2016, 01:44:52 PM

Quote from: Paashaas on July 28, 2016, 01:33:55 PM

Have patience friend, Bitcoin ETF's will come.

in 6months?

Just before the new forum software is finished and running

Will that be before "Midas" and LTC will start trading on gox?

White sugar

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Quote from: adamstgBit on July 28, 2016, 01:44:52 PM

Quote from: Paashaas on July 28, 2016, 01:33:55 PM

Have patience friend, Bitcoin ETF's will come.

in 6months?

Just before the new forum software is finished and running

Elwar

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Viva Ut Vivas

The ETF won't go through until they get to the point when the SEC opens it up for public comment for 45 days. Then after those 45 days are over....rocketships.

Dafar

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dafar consulting

Quote from: Paashaas on July 28, 2016, 01:33:55 PM

Winkelvoss ETF was never approved during 2014, 2015 otherwise it woud alrdy be here..you're overeacting a little bit.

You need to pay for lawyers, regulaters, filling paperwork to SEC etc, that cost a ton of money and time. Bitcoin is a brand new asset class with a lot of potential, it is not easy to make a framework.
All party's needs to be happy, if the first farmework does not fit the requirements than a new one will be planned and that will take a new chunk of money and time. There are more ETF's going on than the Winkelvoss but the 2 brother are going for BATS exchange. Imo that fits Bitcoin better than NASDAQ.

Have patience friend, Bitcoin ETF's will come.

I didn't say it was approved.... we have been hearing about it waiting to be approved since 2014. So what exactly is new about this:

Quote from: Paashaas on July 28, 2016, 09:42:10 AM

Bitcoin ETF approval within 5 months.

Quote

A new exchange traded fund designed to track the price of Bitcoin may be on its way to market. New paperwork has been filed with the SEC for the new ETF, titled Solid Bitcoin Trust, according to reports from ETF.com.

SolidX Partners Inc. says the Bitcoin within the ETF will be insured in case of theft, destruction or computer fraud, with the Bank of New York Mellon acting as custodian.

The new fund requires a rule change filing with SEC by the carrying exchange, due to Bitcoin’s status as a new asset type. The fund will kick off with an initial offering value at around $1 million.

Approval is pending based on the approval of the rule change filing; a precedent has since been set by the Winklevoss Bitcoin ETF, which the infamous brothers filed for on June 30. It’s anticipated that fund will receive approval by the end of 2016, with the SolidX ETF receiving approval by early 2017.

http://www.wealthprofessional.ca/news/etfs/new-bitcoin-etf-on-its-way-to-market-211198.aspx

Sounds meaningless to me because we have been hearing this since 2014.

Here is an article from May 2014:

http://moneymorning.com/2014/05/12/winklevoss-bitcoin-etf-to-list-on-nasdaq-gets-closer-to-reality/

Quote

The Winklevoss Bitcoin ETF is still awaiting regulatory approval from the U.S. Securities and Exchange Commission

Still waiting..... and 2 years later we have another article that claims it's "still waiting" ...sorry if I'm not excited until we see a confirmation. Anticipation isn't confirmation

adamstgBit

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Quote from: Paashaas on July 28, 2016, 01:33:55 PM

Have patience friend, Bitcoin ETF's will come.

in 6months?

Paashaas

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Quote from: Dafar on July 28, 2016, 10:21:15 AM

Wasn't the Winklevoss ETF supposed to be approved by 2014? Then again by 2015? Now by the end of 2016? I keep hearing the same thing every year... what's different this time?

Also, didn't the Winklevoss release their ETF called Gemini? Or is that just an exchange? I'm so confused because I've been hearing about the same ETF for the last 2 years and nothing changes

Winkelvoss ETF was never approved during 2014, 2015 otherwise it woud alrdy be here..you're overeacting a little bit.

You need to pay for lawyers, regulaters, filling paperwork to SEC etc, that cost a ton of money and time. Bitcoin is a brand new asset class with a lot of potential, it is not easy to make a framework.
All party's needs to be happy, if the first farmework does not fit the requirements than a new one will be planned and that will take a new chunk of money and time. There are more ETF's going on than the Winkelvoss but the 2 brothers are going for BATS exchange. Imo that fits Bitcoin better than NASDAQ.

Have patience friend, Bitcoin ETF's will come.

LFC_Bitcoin

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#1 VIP Crypto Casino

Yeah I'm not going to start expecting this ETF to come any time soon. I feel like we've seen this all before.
I'll believe it when I see it.

It always seems to be a date fairly far away & that confirmation or approval etc never comes.

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