Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18448. (Read 26712937 times)
July 19, 2016, 12:05:07 PM
So far there's not enough fiat on exchanges to push up fast. But if 630$ holds, a rally is still possible.
July 19, 2016, 12:03:52 PM
That test might result in a price jump despite whether anyone supports the lightning network or fights it. A jump might go above $700 once and for all. There's been a few weeks of calm but some news like that might start the high volume violent price moves again.
Since when did your average trader react to news other than the bad? I can't really think of anything. The unfortunate thing about bad news is that it's usually instant whereas good news always adds to a future just beyond reach.
Was news of the Brexit bad news? It depends on your point of view, but Bitcoin soared back up to $700 as soon as the news was out. I'm certain the fiat market traders who lost a fortune betting on no Brexit viewed it as bad news, and I'm also certain many Bitcoin holders viewed it as good news.
July 19, 2016, 11:48:03 AM
[edited out]
good job buying as the sky was falling.
Look at you? seeming to not be able to resist getting in a kind of non-substantive ad hominem attack. You don't even explain what was wrong with my approach. Are you saying (in retrospect monday morning quarterbacking) that there was something fundamentally wrong with my approach? Do you know enough about my approach? I don't really want to get caught up on this, except to suggest that you really don't have anything here, except some desire to get in a bit of a digg, for some reason?
you read sarcasm when there was none.
your approach which seems to be focused around the idea that you simply cannot predict price movements, there for you dont try, you simply let the price movements dictate your actions based on your avg price / % in / desired % in
Is the best possible approach as an investor.
July 19, 2016, 11:38:34 AM
Good morning Bitcoinland.
Sideways 'r' us.
This can't go on forever, or can it?
Sideways 'r' us.
This can't go on forever, or can it?
July 19, 2016, 11:33:35 AM
Approaching 666$ again 
July 19, 2016, 10:57:47 AM
When it encourages between 7-9 trillion people to clog every channel with faucet dicking then what? We're all DOOMED.
You do know they are launching 10 nano-meter technology on large scale soon... and then 5 or 7 nano-meters! ... Now we have the 14nm chips on the market and you can give custom designs pre-orders.
But the thing is that when those 5 - 7 nano-meter chips hit the market like in 2020 ... The next thing after that is quatum computing!
But there is another "but" ... I have read in some article that there is already a way for quantum computing, but not at room temperature, meaning you would need a special cooler in a special room.
So.. have about that! You worry too much...
*Edit: All I can say is that "Moore's Law" was right!
July 19, 2016, 10:54:54 AM
We're possibly rewarded with back door centralisation by expecting places like Coinbase to route channels for us. It's all conjecture. Let's see it running before deciding how it's going to work.
You might find these links interesting:
https://medium.com/@rusty_lightning/lightning-routing-rough-background-dbac930abbad#.6k920aqm5
http://bitfury.com/content/5-white-papers-research/whitepaper_flare_an_approach_to_routing_in_lightning_network_7_7_2016.pdf
July 19, 2016, 10:50:21 AM
Either way it's a good intermediate step for scaling.
Maybe 20-30 years from now, harddiskspace and worldwide internetspeed can handle 1 GB blocks for all transactions. Until then, LN seems a good alternative.
Maybe 20-30 years from now, harddiskspace and worldwide internetspeed can handle 1 GB blocks for all transactions. Until then, LN seems a good alternative.
July 19, 2016, 10:38:20 AM
We're possibly rewarded with back door centralisation by expecting places like Coinbase to route channels for us. It's all conjecture. Let's see it running before deciding how it's going to work.
July 19, 2016, 10:35:28 AM
https://twitter.com/bencxr/status/755241138756448256
LN test: 20 payments in 100ms > 17+million per day, per channel.
This is getting interesting.
LN test: 20 payments in 100ms > 17+million per day, per channel.
This is getting interesting.
Indeed. You know, there are prominent people in the Bitcoin community that I admire and still support, but I'm baffled by their opposition to LN being a separate thing from the core Bitcoin network.
Anyone who knows anything about technology, networks, and programming knows the valid reason why databases are completely separate from the transactional layers of any application. Or how bank clearing houses work. It's really the only way to scale it properly.
Bitcoin, unsettling as this may sound, is very much unlike a bank. It was designed to be both a currency and a payment processor, i.e. A Peer-to-Peer Electronic Cash System.
Lightning is not a p2p cash system, but a p2p gift card system. One opens a "channel" and funds it with BTC. Think credit card that, instead of letting you buy now and pay later, requires you to pre-fund it every month, and then allows you buy up to the pre-funded amount. Why "gift card" instead of credit card, you ask? Because you can only use it to transact with a single entity, just like you can only spend your Starbucks gift card at Starbucks.
July 19, 2016, 10:16:57 AM
A day is good. Anything less than that is bullshit and distorted. For example if we start isolating time frames, I can show you the last blocks
421405 4 minutes 2775 32,406.06 BTC BTCC Pool 997.1
421404 28 minutes 782 6,553.55 BTC Slush 998.18
421403 28 minutes 1759 14,162.17 BTC BitFury 998.19
421402 34 minutes 1992 18,610.63 BTC F2Pool 999.81
421401 35 minutes 2027 18,207.23 BTC F2Pool 999.87
421400 36 minutes 2841 39,982.53 BTC BW.COM 998.15
Are those the usual value /transaction ? Seems like an average of 10 btc /t
I believe it includes some "hot wallet" activity of exchanges.
Some hot wallets operate like this:
You request a 1 btc withdrawal, I request 3 btc withdrawal, another requests 4 btc withdrawal
Hot wallet is at 1000 btc so it does -1 for your withdrawal and 999 btc as change to a new address. Then the 999 btc change sends me 3 and has 996 as change. Then it sends 4 to the next withdrawal and keeps 992 as change. It does that until the hot wallet is exhausted of funds. Now it is possible that instead of having the actual tx (the 1, 3, 4 btc transfers) count as volume, the change is counted as volume - because the change is far larger.
July 19, 2016, 10:03:35 AM
That test might result in a price jump despite whether anyone supports the lightning network or fights it. A jump might go above $700 once and for all. There's been a few weeks of calm but some news like that might start the high volume violent price moves again.
Since when did your average trader react to news other than the bad? I can't really think of anything. The unfortunate thing about bad news is that it's usually instant whereas good news always adds to a future just beyond reach.
July 19, 2016, 10:01:07 AM
https://twitter.com/bencxr/status/755241138756448256
LN test: 20 payments in 100ms > 17+million per day, per channel.
This is getting interesting.
LN test: 20 payments in 100ms > 17+million per day, per channel.
This is getting interesting.
Indeed. You know, there are prominent people in the Bitcoin community that I admire and still support, but I'm baffled by their opposition to LN being a separate thing from the core Bitcoin network.
Anyone who knows anything about technology, networks, and programming knows the valid reason why databases are completely separate from the transactional layers of any application. Or how bank clearing houses work. It's really the only way to scale it properly.
That test might result in a price jump despite whether anyone supports the lightning network or fights it. A jump might go above $700 once and for all. There's been a few weeks of calm but some news like that might start the high volume violent price moves again.
July 19, 2016, 09:55:10 AM
When it encourages between 7-9 trillion people to clog every channel with faucet dicking then what? We're all DOOMED.
July 19, 2016, 09:44:23 AM
https://twitter.com/bencxr/status/755241138756448256
LN test: 20 payments in 100ms > 17+million per day, per channel.
This is getting interesting.
LN test: 20 payments in 100ms > 17+million per day, per channel.
This is getting interesting.
Indeed. You know, there are prominent people in the Bitcoin community that I admire and still support, but I'm baffled by their opposition to LN being a separate thing from the core Bitcoin network.
Anyone who knows anything about technology, networks, and programming knows the valid reason why databases are completely separate from the transactional layers of any application. Or how bank clearing houses work. It's really the only way to scale it properly.
July 19, 2016, 08:47:50 AM
https://twitter.com/bencxr/status/755241138756448256
LN test: 20 payments in 100ms > 17+million per day, per channel.
This is getting interesting.
LN test: 20 payments in 100ms > 17+million per day, per channel.
This is getting interesting.
July 19, 2016, 08:03:21 AM
an hour and 19 minutes since the last block. They are averaging 23 minutes per block and they're all full.
this will cause the price to slump, which will kick more hashpower off the networks, causing further backlogs and higher fees in a viscous feedback loop. I told you bastards this would happen.
it's the Fullblocalypse!!
this will cause the price to slump, which will kick more hashpower off the networks, causing further backlogs and higher fees in a viscous feedback loop. I told you bastards this would happen.
it's the Fullblocalypse!!
Lots of people using Bitcoin? Bullish!
BFX is throwing all their withdrawals into the mempool and the xactions, ALL OF THEM, are getting stranded. A huge exchange like that, how long do you think it's gonna take before something like that affects the spot price?
July 19, 2016, 07:44:25 AM
an hour and 19 minutes since the last block. They are averaging 23 minutes per block and they're all full.
this will cause the price to slump, which will kick more hashpower off the networks, causing further backlogs and higher fees in a viscous feedback loop. I told you bastards this would happen.
it's the Fullblocalypse!!
this will cause the price to slump, which will kick more hashpower off the networks, causing further backlogs and higher fees in a viscous feedback loop. I told you bastards this would happen.
it's the Fullblocalypse!!
Lots of people using Bitcoin? Bullish!
BFX is throwing all their withdrawals into the mempool and the xactions, ALL OF THEM, are getting stranded. A huge exchange like that, how long do you think it's gonna take before something like that affects the spot price?
Bullish!
July 19, 2016, 07:41:57 AM
What sort of timeframe are we dealing with where fees start spiraling out of control?
That assumes demand, of which there isn't very much. I'll guess most people would cut their transactions down. Most of mine don't exactly have the fate of the free world hinging on them.
If they really did reach silly levels then I'd find myself another coin to play with and most commerce probably would too.
July 19, 2016, 07:35:58 AM
an hour and 19 minutes since the last block. They are averaging 23 minutes per block and they're all full.
this will cause the price to slump, which will kick more hashpower off the networks, causing further backlogs and higher fees in a viscous feedback loop. I told you bastards this would happen.
it's the Fullblocalypse!!
this will cause the price to slump, which will kick more hashpower off the networks, causing further backlogs and higher fees in a viscous feedback loop. I told you bastards this would happen.
it's the Fullblocalypse!!
Lots of people using Bitcoin? Bearish!
There, I fixed it for you.
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