Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18906. (Read 26619966 times)

Here, let me turn you on to a hardcore scientist research trick I picked up back at NASA:
http://s32.postimg.org/z8fv36o5x/Capture.gif

Sure it's true, here, brought to you by paradigm-shifting disruptive technology of THE blogchain:
https://blockchain.info/tx/cc455ae816e6cdafdb58d54e35d4f46d860047458eacf1c7405dc634631c570d

I guess we're impressed by different stuff. You prefer to look at your $135k blunder on the blogchain, while I prefer being able to get it back.
Different strokes
P.S. Please try to be brief and avoid excessive line spacing in your replies. ty.

It doesn't really matter if you are attempting to lock the conversation in some kind of narrow technical and almost irrelevant point regarding the present or some convenient and self-serving description of a snapshot that you would like to portray because bitcoin is not anywhere near a static or an established service... so the now is merely a place where bitcoin is that is going to project bitcoin into the future.. and bitcoin is currently in a real good position for a variety of future developments including the ones mentioned by rOach.

Look at you?? Trolling your little newbie head off... Your employer must be getting desperate.   

O.k... I will bite for a little while, even though it may be a waste of time to engage with you.


There is a lot going on with mining in terms of securing the network for the present and for the future.... it is a small cost to pay, and generally seems to be borne by the chinese government through its subsidization or electricity.

 Furthermore, investors in mining are also bearing costs and taking risks, and in the end, each of them individually is betting that in the present (and maybe even the future, to the extent that they are hodling coins or expanding their mining business) they are going to profit from their participation in such business.... so who the fuck cares?  They are rational actors who can choose for themselves the extent they want to invest into mining and whether they calculate that it is going to be profitable for them. 

Your point about hydrocarbons.. so fucking what.. sounds like an ethereum talking point.  Powering the internet takes a lot of power, too, and we are not shutting it down because it provides a lot of benefits... same is true and going to continue to be true of our lovelie lil bitcoin friends and its network that is secured through decentralized computing power.




Your taking a quasi-irrelevant and nonsensical snap-shot that truly misses a variety of points, because it is out of context.  No need for me to comment further regarding your laziness in terms of this point.




Bitcoin transactions are doing fine for its current status and size.. .and yep, another out of context snapshot... see my response to your other above snapshot point.   



I looked up "SFYL", but I couldn't figure out what it meant.

If true, and not created by the government or big banks... this surely is a big mistake, and the public nature of bitcoin allows us to see it...

Being able to see the discrepency is amazing in comparison to centralized systems.  I believe the story is that the miner is looking for the person who lost the coins... and the funny thing is that the public is making a big deal out of it in part because they are having trouble identifying who is out $136k.



Where did you get this supposed convenient and seemingly self-serving "fact"?  Did you pull it out of your anus, to the extent that you are a real person, and not a bot?



I didn't forget, so there is no need to quote yourself again.



You seem to be attributing something to me that I did not say... I said bitcoin is amazing, and you said that your credit card is amazing.  I did not say both were amazing.

I appreciate your points to the extent that they are potentially relevant to bitcoin, yet we do not really need to go down a rabbit hole in discussing credit cards because bitcoin is not a credit card, as we should already realize it provides a different kind of amazement that may overlap with some of the credit card services but not be exclusively such.  AMAZING!!!!!

Disgusting insect:
I'm not talking about what's been promised, or what will be. I'm talking about what is, now.
Now make like I just turned on the light and scurry away.

Wrong.  Post-halving inflation is 4%.  You will see Bitcoin start to obliterate these hyperinflating South American currencies after halving.


Another wrong.  Schnorr signatures will lower transaction overhead to increase TPS, plus payment channels from segwit giving you unlimited TPS with garbage collection.  Even without payment channels, it only requires around 8MB blocks for Bitcoin to function as a checkbook type payment system for large value transactions accessible to 1st world middle/upper middle class at full market adoption of trillions in market cap.  Imminent segwit release goes to 1.6MB, then hard fork to raise block size is in 2017, so it will be 3.2MB then.  

Assuming payment channels didn't even exist, you would only need one block size increase from there to remove the glass ceiling on price completely.  I don't know how the whole payment channels and sidechains thing will play out.  It might not be required to raise block size at all and payment channels, sidechains, or both will drive the expansion.  For the consumer that only makes 1 payment to a random entity then never does business again, payment channels are not useful, but for any two entities that do lots of repeat business, payment channels should provide enormous increase in capacity.

Since you only need around 8MB blocks to remove most of the glass ceiling on price, 3.2MB blocks + payment channels combined might, or maybe even probably do it entirely.  Bitcoin will likely be ready for worldwide adoption in 2017.

Can you be any more contrived? Were you planning to send me 0.01 or 1$? Please don't, that's exactly the sort of shit annoying changetip creeps do, don't do it.

Bitcoin is nothing like PayPal. PayPal underwrites my transactions.
When I deal with you via PayPal and you stiff me (don't deny it, you would), I get my money back. If you were good & managed to cash out, PayPal eats the loss.

Bitcoin, on the other hand, can't give me my money back if I accidentally pay $136,000 to spend .05
If you really want to find something similar to bitcoin IRL, think fleshlight that turns into a meat grinder if you don't program it just right.

P.S. But if I did accept CC, sure, you could send me a penny, though it would be a real dick thing to do.

Can I send you 0.01 or 1$ to your CC?

Bitcoin = bidirectional, like paypal.

-The cost of mining 1 bitcoin is only slightly lower than the price of 1 bitcoin, mostly in burnt hydrocarbons. *AMAZING*
-Bitcoin inflation rate is 10% per annum. *Amazing*
-Currently, bitcoin can handle a sustained rate of roughly 3 transaction per second, the average transaction volume generated by one mid-sized US shopping mall. *Amazing*
-A few days ago, someone paid $136,000 to send $0.05. *Ahahahamazing* (SFYL)
-An average bitcoin user is functionally illiterate. Sad, yet *AMAZING*

Forgot what amazed me about my credit card, let's see...

Huh. I guess you're right, booth CC and Bitcoin are amazing

First of all, whored, you substantively changed my quote, which is a bit disingenuous.

Second, you can be amazed as you like regarding various centralized credit card services that you use, and you should continue to use them because they are going to provide some benefits that bitcoin does not currently provide....  No one is telling you not to use various services that bring a large number of benefits to you. 

Third, my main point is to assert that bitcoin also provides a lot of amazement, and it may not be the same kinds of amazements of other centralized services, but it is still amazing in a variety of innovative ways... that may or may not be exactly comparable, but can be individualized in a variety of "amazing" ways that are likely going to become even more "amazing" with the passage of time and the continued development of the space... that's part of the reason why when you zoom out on bitcoin's price performance you seem "amazing" price growth, apparently current upward price pressures, and seemingly likely ongoing upward price movements that will be seen in the future.

You can choose your own destiny regarding the extent to which, or not, that you invest into bitcoin.. or you can choose to go around touting various centralized systems... not a big deal, and sure bitcoin may well be absorbing some of those advantages that you tout to the extent that it needs to - even though it may well offer other advantages that exceed the supposed "amazing" ones that you are currently enjoying through your various credit card systems (that I currently use, too, and many of us likely use some of those credit card services)

My CC goes through in about 3 seconds total.
*And* it lends me money for free.
*And* if I accidentally pay a million dollars for a pair of alpaca socks, no worries, I get it right back.
*AND* if the trustworthy retailer mails me some dog poop instead of the alpaca socks I paid for, I can get my money back too.

Now *that's fucking AMAZING*

I wonder why I get the sense that you are a bit of a drama queen.  You came on here previously with your supposed delayed transmission drama, and without really providing too many details..... but seem to be wanting to claim some hype in respects to supposed delays and presumptions that bitcoin is broken in some manner.

Really, do we want to build in some kind of presumption that bitcoin is going to currently compete with credit cards in terms of speed or in terms of someone taking responsibility in the event that something goes wrong with our transaction?

 Bitcoin is a bit of a different beast, but it seems quite unfair to suggest that bitcoin is serving the same purpose as some other quick value transformation mechanism.. at this stage in it's existence... Accordingly, security should be much more important than speed - especially when the blockchain is security at least $7 billion in value, and likely in the fairly near future will be securing close to $100billion... In that regard, we don't want bitcoin to be taking any shortcuts in order to appease some complainers who seem to be expecting too much too quickly.

Your post caused me to look up block average size and median transaction time (with fees) on blockchain.info charts, and I saw that blocks appear to be pretty full (about 90% average), yet average confirmation time with fees seems reasonable (at about 10 minutes).

Coincidentally, I sent a transaction of about 1.6 BTC (about $740), and I included a .00007241 BTC fee (about $.03), and it went through high priority and in 13 minutes.  That is quite amazing, if you really think about it, and I would remain amazed if the fee was a bit higher (double or triple) and/or if the transaction time took longer (an hour or so).. but yeah, I kind of enjoy low fees and quick transaction times, and in the coming months we are probably going to experience more of this good stuffs with the activation of seg wit and various developments of seg wit.

maybe bitcoin can do what LTC was unable to do...

Well, that's 49k and 39k that won't be dumped later. You just gotta look at it the right way.
That 450 resistance is proving to be a little stronger than I thought, but soon as we cut through it? Up to 496.666, CCMF (UTB!)!

I don't think so... we gotta make it through $467 -ish first... and upon breaking such resistance don't aim so low..... because once we make it through the $467 to $475 price range, then likely we are going to move fairly easily into the $600s... and likely skip right through the $500's.... and any implications that you make regarding possible resistance at $500....

Nonetheless,  I'm not giving investment advice because there are no guarantees in life, but surely probabilities seem to be in such favorable status as I describe above.. and accordingly, we each need to consider that the trend is our friend, and we won't be wanting to buck trends, once they are in process....   whalebears and whalebulls are capable of bucking trends; however, when they play such cards, they have to employ considerable capital in order to either reverse trends or to dampen them.

well, you might have to find someone to replace the 49k and 39k contracts that got margin called on OkCoin for one thing.

this isnt the first time a pump ended with a huge margin call at OkCoin. people have bad memories and need to be reminded of the LTC pump last year that suddenly got margin called. you should say something like "be careful out there, you might get margin called by insiders trading at some exchanges."

http://www.bitcoinfuturesguide.com/bitcoin-blog/bitcoin-futures-position-worth-49-million-margin-called-on-okcoin-trader-loses-250000-500000

Wasn't meant as a newsflash. Just saying it works. Lots of BS and fake hype in Cryptoland.

Oh really like we didnt know that yet....

Once we break the 450 resistance, it's straight up to 496.666
*certain only of the 6.666 part.

Western Union's been working with ripple for a while. I guess they learned that private blockchains ain't worth sh*t for what Western Union does.