Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 19418. (Read 26610741 times)

"The lines cross and omg! catastrophe happens" is the sophisticated wrapper around the bullshit argument "nobody goes there any more because it is too popular".

me neither

I literally have no idea what you people are talking about.

"The lines cross and omg! catastrophe happens" is the sophisticated wrapper around the bullshit argument "nobody goes there any more because it is too popular".

...
"The lines cross and omg! catastrophe happens" is the sophisticated wrapper around the bullshit argument "nobody goes there any more because it is too popular".

It will only take a few more months before the lines will cross. I wouldn't call that a long way off. And rolling out a hard fork takes time. So yes, time is running out fast.

It's may sound fancy, but it's very simple. This is a (logarithmic) graph of the number of Bitcoin transactions over time:



The interactive version is here: https://oxt.me/charts

The blue line is the number of transactions in a given month. In December and January there were 6 million transactions per month. The maximum per day that can be processed is about 250,000, so that's 7.5 million per month. To visualize that maximum, you could draw a horizontal line in the graph at 7,500,000. As you can see, the growth in transactions is pretty steady, in this logarithmic graph it's almost a straight line (so the growth is actually exponential). If you extrapolate that line to the future, it will cross the horizontal line at 7,500,000 tx at some point. In fact, if two lines don't run parallel, you know for sure they will cross each other sometime.




It will only take a few more months before the lines will cross. I wouldn't call that a long way off. And rolling out a hard fork takes time. So yes, time is running out fast.

There have been times when I had to wait for multiple full blocks before my transactions got included in one. The time from sending the transactions to getting six confirmations was hours, not an hour like it's supposed to take. At other times when the blocks weren't full and if I got lucky getting included in a block and getting six confirmations took less than an hour. The problem's already manifesting itself, but intermittently.

No.  I don't understand:  "non-parallel lines in a two-dimensional cartesian coordinate system."

O.k.  I will accept your representation.  Currently, we seem to be a long ways away from the "fact" that you are asserting to be coming about, and from my understanding, there are several potential bandaid solutions in place until a possible more permanent solution is agreed upon or implemented by coup de at... 

Nope, the 1MB limit is more like teaching your daughter to use self-discipline and situational awareness to avoid dangerous situations, and martial arts/marksmanship should an attempt be made.

Setting a huge block size and expecting spam tx to just go away is like dressing up in slutwear, blacking out drunk at a ghetto frat party, and hoping for the best.

Actually, it's more like 230,000 per day. Source: https://oxt.me/charts (Look at the maximum tx volumes in December and January).

Yeah right. A rough estimate can be different from precise timing, and yep I agree that no one likes anyone who exaggerates.

I think that I tend to not worry whether it takes 15 minutes or an hour or perhaps a day in some instances for the bitcoins to actually be available because I tend to maintain a sufficient balance in Bitcoin and dollars to provide a bit of a cushion for possible volatility.   Therefore if I'm really worried about having some bitcoins locked up in one place for an extended period of time (more than 15 minutes, for example), I could sell an equal or proportionate amount of bitcoins in another place.

And, yep I can imagine instance in which the cushion of bitcoins would not  be there for me for one reason or another, or possible the amount of bitcoins in the pending transaction is really high, so it's more difficult to maintain a cushion or to sell somewhere else .

I suppose if I were dealing in some hypothetical situations in which I needed access to the bitcoins more quickly then I would need to measure more the amount of time more precisely for actual availability versus the bitcoins just showing up as "pending."


I also recognize that other people may experience other kinds of use cases that make it better to have actual access to the coins more quickly, and there are some people who do not operate their lives with various cushions in their finances, so they get a bit more anxious through either inadvertence or lack of preparations.

Actually several years. We've been repeatedly pointing at the same stupid, unnecessary hard ceiling, and pointing out that the inexorable trend of increasing transactions has us on a clear intersect.

In the meantime, we have recently gone from things never sucking in regards to capacity, to things sucking for brief flashes of time. The issue is not how much one needs to pay to get a transaction through, the issue is that with the current block size, no more than about 350,000 transactions can be processed in a day. Period. No matter how much money is thrown at the transactions.

Actually several years. We've been repeatedly pointing at the same stupid, unnecessary hard ceiling, and pointing out that the inexorable trend of increasing transactions has us on a clear intersect.

In the meantime, we have recently gone from things never sucking in regards to capacity, to things sucking for brief flashes of time. The issue is not how much one needs to pay to get a transaction through, the issue is that with the current block size, no more than about 350,000 transactions can be processed in a day. Period. No matter how much money is thrown at the transactions.

Using the 1MB limit to prevent centralization is like mangling your daughter's face to prevent her from being raped. It's an extremely high price to pay and it doesn't even work that well.