Topic: Wall Observer BTC/USD - Bitcoin price movement tracking &amp; discussion - page 18827. (Read 26710035 times)

Quote from: JayJuanGee on May 25, 2016, 04:45:59 AM

Quote from: BldSwtTrs on May 25, 2016, 04:52:22 AM

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).

It's short-sighted.

What is important is not today but the future.

In the future there'll be more capacity to satisfy actual txs (not spammy near-zero cost txs). That much is a given.

Yeah... frequently there are these quasi abstract criticisms suggesting that core is not looking into the future enough... but really? Huh

You gotta walk before you run, and segwit seems to be the next best step, and there seems to be no real question that there will be timely scaling.. and yeah, if there were a real and actual emergency, some kind of actual blocksize limit could be implemented.

The assertion of emergency has been exaggerated.

"quasi abstract" Cheesy

Yes some people are thinking while other are just parroting what their superior in the engineering pecking order told them.

Gee lets see technological fuck up could be catastrophic on a $6B market, but sure lets rush it in to solve that non yet existing problem that may potentially come a bit sooner than expected through this explosive organic growth in next few months, and make everyone pay few cents more

Technological fuck up?

2MB increase is safer than SegWit (way less complexities).

On the contrary an economic fuck up is looming. All small blockists are in deny regarding that's problem. The clock is ticking but no need to panick, it's already too late.

Ohhh no!! Are you saying that bitcoin is dead? http://bitcoinobituaries.com/

DaRude

legendary

Activity: 2833

Merit: 1851

In order to dump coins one must have coins

Quote from: DaRude on May 25, 2016, 04:45:50 AM

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).

It's short-sighted.

What is important is not today but the future.

VC and price speculator think ahead and they don't like what they see.

Currently block space is perfectly inelastic, that's scary. In due time, this will cause a dramatic rise in fees and delays, and a decrease in demand. That's how the market deal with shortage: prices, delays and lowering of the demand.

Already see a shop in a communist country? Well the same will happen in Bitcoin.

The future is bleak. Everyone with an economic focused brain understand that. Meanwhile small blockists congratulated themselves because fees are low today.

What's important is to keep it as decentralized as possible without F'ing up. The true use case is still pretty low and adoption has slowed a bit. Segwit and 2mb fork are in the works, even if we have an explosive natural growth next few months worst case i'm willing to pay $0.06 for a transaction instead of $0.03 when the blocks get crowded

On what data relies your assumption that an increase in blocksize will decrease decentralization?

Why decentralization is more important than network survival?

Why do you think you will be able to defeat an economic shortage by paying more?

So much question that you won't be able too answer.

How about first you prove me that pushing that lever will NOT fuck things up? You know stuff that engineers do, and not, well, we can't conclusively prove to a 100% that it will blow up so fuck it lets try it and see what happens.

Silly whabit because if there's one thing everyone (except for you?) can agree on is that there is no survival without decentralization. This would be a horrifically ineffective paypal#2

Think i was able TO answer no?

JayJuanGee

legendary

Activity: 3948

Merit: 11416

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

Quote from: JayJuanGee on May 25, 2016, 04:45:59 AM

Quote from: DaRude on May 25, 2016, 04:53:35 AM

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).

It's short-sighted.

What is important is not today but the future.

In the future there'll be more capacity to satisfy actual txs (not spammy near-zero cost txs). That much is a given.

Yeah... frequently there are these quasi abstract criticisms suggesting that core is not looking into the future enough... but really? Huh

You gotta walk before you run, and segwit seems to be the next best step, and there seems to be no real question that there will be timely scaling.. and yeah, if there were a real and actual emergency, some kind of actual blocksize limit could be implemented.

The assertion of emergency has been exaggerated.

"quasi abstract" Cheesy

Yes some people are thinking while other are just parroting what their superior in the engineering pecking order told them.

well hopefully you can keep some sense of humor about this, but I put myself in the group of thinkers, rather than parrots. Cheesy

I gather that you already understand the idea of Quasi-abstract, but are having fun with my description choice.

I don't buy your assumption of inelastic supply, and especially your assumption that some kind of tragedy is going to come from a few more months or even years delay in scaling.. I think that there is enough in the pipeline and development to keep us busy for a while, and this baby is likely going to go up in price, even if some folks continue to suggest that there are tragic emergencies (which I believe are much more imaginary rather than real.. so therefore, they sound good in theory, but are not as big of an issue as they are made out to be by the hypers). Lot's of great work is continuing to be done by coders, miners, developers and lots of folks in this space.

BldSwtTrs

legendary

Activity: 861

Merit: 1010

Quote from: JayJuanGee on May 25, 2016, 04:45:59 AM

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).

It's short-sighted.

What is important is not today but the future.

In the future there'll be more capacity to satisfy actual txs (not spammy near-zero cost txs). That much is a given.

Yeah... frequently there are these quasi abstract criticisms suggesting that core is not looking into the future enough... but really? Huh

You gotta walk before you run, and segwit seems to be the next best step, and there seems to be no real question that there will be timely scaling.. and yeah, if there were a real and actual emergency, some kind of actual blocksize limit could be implemented.

The assertion of emergency has been exaggerated.

"quasi abstract" Cheesy

Yes some people are thinking while other are just parroting what their superior in the engineering pecking order told them.

Gee lets see technological fuck up could be catastrophic on a $6B market, but sure lets rush it in to solve that non yet existing problem that may potentially come a bit sooner than expected through this explosive organic growth in next few months, and make everyone pay few cents more

Technological fuck up?

2MB increase is safer than SegWit (way less complexities).

On the contrary an economic fuck up is looming. All small blockists are in deny regarding that's problem. The clock is ticking but no need to panick, it's already too late.

DaRude

legendary

Activity: 2833

Merit: 1851

In order to dump coins one must have coins

Quote from: JayJuanGee on May 25, 2016, 04:45:59 AM

Quote from: DaRude on May 25, 2016, 04:45:50 AM

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).

It's short-sighted.

What is important is not today but the future.

In the future there'll be more capacity to satisfy actual txs (not spammy near-zero cost txs). That much is a given.

Yeah... frequently there are these quasi abstract criticisms suggesting that core is not looking into the future enough... but really? Huh

You gotta walk before you run, and segwit seems to be the next best step, and there seems to be no real question that there will be timely scaling.. and yeah, if there were a real and actual emergency, some kind of actual blocksize limit could be implemented.

The assertion of emergency has been exaggerated.

"quasi abstract" Cheesy

Yes some people are thinking while other are just parroting what their superior in the engineering pecking order told them.

Gee lets see technological fuck up could be catastrophic on a $6B market, but sure lets rush it in to solve that non yet existing problem that may potentially come a bit sooner than expected through this explosive organic growth in next few months, and make everyone pay few cents more

BldSwtTrs

legendary

Activity: 861

Merit: 1010

Quote from: JayJuanGee on May 25, 2016, 04:45:59 AM

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).

It's short-sighted.

What is important is not today but the future.

VC and price speculator think ahead and they don't like what they see.

Currently block space is perfectly inelastic, that's scary. In due time, this will cause a dramatic rise in fees and delays, and a decrease in demand. That's how the market deal with shortage: prices, delays and lowering of the demand.

Already see a shop in a communist country? Well the same will happen in Bitcoin.

The future is bleak. Everyone with an economic focused brain understand that. Meanwhile small blockists congratulated themselves because fees are low today.

What's important is to keep it as decentralized as possible without F'ing up. The true use case is still pretty low and adoption has slowed a bit. Segwit and 2mb fork are in the works, even if we have an explosive natural growth next few months worst case i'm willing to pay $0.06 for a transaction instead of $0.03 when the blocks get crowded

On what data relies your assumption that an increase in blocksize will decrease decentralization?

Why decentralization is more important than network survival?

Why do you think you will be able to defeat an economic shortage by paying more?

So much question that you won't be able too answer.

BldSwtTrs

legendary

Activity: 861

Merit: 1010

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).

It's short-sighted.

What is important is not today but the future.

In the future there'll be more capacity to satisfy actual txs (not spammy near-zero cost txs). That much is a given.

Yeah... frequently there are these quasi abstract criticisms suggesting that core is not looking into the future enough... but really? Huh

You gotta walk before you run, and segwit seems to be the next best step, and there seems to be no real question that there will be timely scaling.. and yeah, if there were a real and actual emergency, some kind of actual blocksize limit could be implemented.

The assertion of emergency has been exaggerated.

"quasi abstract" Cheesy

Yes some people are thinking while other are just parroting what their superior in the engineering pecking order told them.

JayJuanGee

legendary

Activity: 3948

Merit: 11416

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

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).

It's short-sighted.

What is important is not today but the future.

In the future there'll be more capacity to satisfy actual txs (not spammy near-zero cost txs). That much is a given.

Yeah... frequently there are these quasi abstract criticisms suggesting that core is not looking into the future enough... but really? Huh

You gotta walk before you run, and segwit seems to be the next best step, and there seems to be no real question that there will be timely scaling.. and yeah, if there were a real and actual emergency, some kind of actual blocksize limit could be implemented.

The assertion of emergency has been exaggerated.

DaRude

legendary

Activity: 2833

Merit: 1851

In order to dump coins one must have coins

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).

It's short-sighted.

What is important is not today but the future.

VC and price speculator think ahead and they don't like what they see.

Currently block space is perfectly inelastic, that's scary. In due time, this will cause a dramatic rise in fees and delays, and a decrease in demand. That's how the market deal with shortage: prices, delays and lowering of the demand.

Already see a shop in a communist country? Well the same will happen in Bitcoin.

The future is bleak. Everyone with an economic focused brain understand that. Meanwhile small blockists congratulated themselves because fees are low today.

What's important is to keep it as decentralized as possible without F'ing up. The true use case is still pretty low and adoption has slowed a bit. Segwit and 2mb fork are in the works, even if we have an explosive natural growth next few months worst case i'm willing to pay $0.06 for a transaction instead of $0.03 when the blocks get crowded

BldSwtTrs

legendary

Activity: 861

Merit: 1010

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).

It's short-sighted.

What is important is not today but the future.

In the future there'll be more capacity to satisfy actual txs (not spammy near-zero cost txs). That much is a given.

So why the price is stagnating and VC investment is decreasing? Sure you computer geeks folks are cleverer than all the economic minded people on the planet.

Small blockists are playing with fire with complexities they don't understand, as every little central planers who think too much of themselves.

You will learn what perfectly inelastic supply means the hard way. That's not going to be pretty.

AlexGR

legendary

Activity: 1708

Merit: 1049

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).

It's short-sighted.

What is important is not today but the future.

In the future there'll be more capacity to satisfy actual txs (not spammy near-zero cost txs). That much is a given.

BldSwtTrs

legendary

Activity: 861

Merit: 1010