Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 19541.

marcus_of_augustus

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Eadem mutata resurgo

Quote from: Cconvert2G36 on January 21, 2016, 12:58:46 AM

Quote from: marcus_of_augustus on January 21, 2016, 12:56:30 AM

-snip-
It is the long term economic model of a blockchain secured by fees that the ecosystem needs to observe and learn about, sooner rather later.

Yup, and I can't imagine a better time to do it than with 25 BTC reward blocks.

... not so much the rewards regime but such that it is before businesses get entrenched with feeless business models ... who would be screaming and shilling at much higher noise level than you witness today. Sorry to say but it seems quite a lot of VCs have blown investments building on a prototype protocol not the production version, which has always been in the planning and on the drawing board so it is their own failure.

ChartBuddy

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Cconvert2G36

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Quote from: marcus_of_augustus on January 21, 2016, 12:56:30 AM

-snip-
It is the long term economic model of a blockchain secured by fees that the ecosystem needs to observe and learn about, sooner rather later.

Yup, and I can't imagine a better time to do it than with 25 BTC reward blocks.

marcus_of_augustus

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Eadem mutata resurgo

Quote from: smooth on January 21, 2016, 12:51:38 AM

Quote from: cbeast on January 21, 2016, 12:45:37 AM

Quote from: smooth on January 21, 2016, 12:28:42 AM

Quote from: billyjoeallen on January 20, 2016, 07:30:39 PM

Quote from: Richy_T on January 20, 2016, 07:24:01 PM

Blocks are full. Let's see what happens.

https://www.reddit.com/r/btc/comments/41whvw/maximum_of_transactions_second_that_bitcoin_can/cz5v60m

It's the FULLBLOCALYPSE_TM

Here's what going to happen. Fees will go up. A little. A tremendous amount of stupid spam and crap transactions will be forced off the chain. People who actually have a reason to use it will pay a bit more. Over time, improvements will be made in capacity and throughput, allowing for further growth.

The sky will stay up there. You can put the umbrella down now.

The sky may stay there, but it will become toxic with all the alternate blockchains sucking out all the ~~oxygen~~ value.

Eventually yes, that would happen. Not right away because there is a lot of headroom of spam, crap, and low-value uses that will be forced off, ensuring that capacity is available, allowing ample time for improvements in capacity and throughput.

Most importantly new business models that provide profitable long term solutions to capacity will then become obvious and get built out in the confidence that they wont be undermined by capricious and arbitrary consensus code changes. It is the long term economic model of a blockchain secured by fees that the ecosystem needs to observe and learn about, sooner rather later.

smooth

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Quote from: cbeast on January 21, 2016, 12:45:37 AM

Quote from: smooth on January 21, 2016, 12:28:42 AM

Quote from: billyjoeallen on January 20, 2016, 07:30:39 PM

Quote from: Richy_T on January 20, 2016, 07:24:01 PM

Blocks are full. Let's see what happens.

https://www.reddit.com/r/btc/comments/41whvw/maximum_of_transactions_second_that_bitcoin_can/cz5v60m

It's the FULLBLOCALYPSE_TM

Here's what going to happen. Fees will go up. A little. A tremendous amount of stupid spam and crap transactions will be forced off the chain. People who actually have a reason to use it will pay a bit more. Over time, improvements will be made in capacity and throughput, allowing for further growth.

The sky will stay up there. You can put the umbrella down now.

The sky may stay there, but it will become toxic with all the alternate blockchains sucking out all the ~~oxygen~~ value.

Eventually yes, that would happen. Not right away because there is a lot of headroom of spam, crap, and low-value uses that will be forced off, ensuring that capacity is available, allowing ample time for improvements in capacity and throughput.

cbeast

donator

Activity: 1736

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Let's talk governance, lipstick, and pigs.

Quote from: smooth on January 21, 2016, 12:28:42 AM

Quote from: billyjoeallen on January 20, 2016, 07:30:39 PM

Quote from: Richy_T on January 20, 2016, 07:24:01 PM

Blocks are full. Let's see what happens.

https://www.reddit.com/r/btc/comments/41whvw/maximum_of_transactions_second_that_bitcoin_can/cz5v60m

It's the FULLBLOCALYPSE_TM

Here's what going to happen. Fees will go up. A little. A tremendous amount of stupid spam and crap transactions will be forced off the chain. People who actually have a reason to use it will pay a bit more. Over time, improvements will be made in capacity and throughput, allowing for further growth.

The sky will stay up there. You can put the umbrella down now.

The sky may stay there, but it will become toxic with all the alternate blockchains sucking out all the ~~oxygen~~ value.

Cconvert2G36

sr. member

Activity: 392

Merit: 250

Quote from: smooth on January 21, 2016, 12:28:42 AM

The sky will stay up there. You can put the umbrella down now.

I keep trying to tell him. Kid has rocks in his head or something. Undecided

Quote from: Cconvert2G36 on January 13, 2016, 09:18:17 PM

Quote from: billyjoeallen on January 13, 2016, 08:15:53 PM

-snip-
THEREFOR: We will hit the limit and have a network congestion failure. The price will crash. It is almost inevitable now. The only question is when. My best guess is two months.

THEREFOR we are fucked.

Hitting the cap and negating use cases for the network isn't a fireworks explosion, we've been over this. It's a slow bleed away of utility. Some "store of value because reasons™ people", some illicit commerce, some off chain speculation, will all still be around to a degree...

It may take years to fully squander the first mover advantage to other alternatives. Blockstream may hope that alternative is them, and they need Bitcoin to still function as a settlement layer...

See, it's not as bad as it could be.

If you still have any concerns, please consult the roadmap.

Moderators are standing by to assist you.

peonminer

hero member

Activity: 798

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Crypto is King.

WOW. The rage quit was a ploy by big banking to fuck Bitcoin right in the pussy.

https://youtu.be/aH-pmiW4tqM

smooth

legendary

Activity: 2968

Merit: 1198

Quote from: billyjoeallen on January 20, 2016, 07:30:39 PM

Quote from: Richy_T on January 20, 2016, 07:24:01 PM

Blocks are full. Let's see what happens.

https://www.reddit.com/r/btc/comments/41whvw/maximum_of_transactions_second_that_bitcoin_can/cz5v60m

It's the FULLBLOCALYPSE_TM

Here's what going to happen. Fees will go up. A little. A tremendous amount of stupid spam and crap transactions will be forced off the chain. People who actually have a reason to use it will pay a bit more. Over time, improvements will be made in capacity and throughput, allowing for further growth.

The sky will stay up there. You can put the umbrella down now.

peonminer

hero member

Activity: 798

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Crypto is King.

Here's some entertainment for you all https://99bitcoins.com/bitcoinobituaries/

keewee

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Quote from: sidhujag on January 20, 2016, 11:56:20 PM

Quote from: keewee on January 20, 2016, 11:36:18 PM

Quote from: sidhujag on January 20, 2016, 10:38:29 PM

http://www.forexfactory.com/news.php?do=news&id=575226

Here we go

Hmmm. Well potentially they already have the necessary infrastructure for their new coin if they decide to repurpose it away from Bitcoin...

It wont work

Explain? I can't think why it wouldn't work. A bitcoin miner will mine any SHA256 coin, but is there something I'm missing?

ChartBuddy

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billyjoeallen

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Hide your women

Quote from: keewee on January 20, 2016, 11:36:18 PM

Quote from: sidhujag on January 20, 2016, 10:38:29 PM

http://www.forexfactory.com/news.php?do=news&id=575226

Here we go

Hmmm. Well potentially they already have the necessary infrastructure for their new coin if they decide to repurpose it away from Bitcoin...

That's the same thing I thought.

sidhujag

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Activity: 2044

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Quote from: keewee on January 20, 2016, 11:36:18 PM

Quote from: sidhujag on January 20, 2016, 10:38:29 PM

http://www.forexfactory.com/news.php?do=news&id=575226

Here we go

Hmmm. Well potentially they already have the necessary infrastructure for their new coin if they decide to repurpose it away from Bitcoin...

It wont work

marcus_of_augustus

legendary

Activity: 3920

Merit: 2349

Eadem mutata resurgo

Quote from: billyjoeallen on January 20, 2016, 07:52:51 PM

Quote from: marcus_of_augustus on January 20, 2016, 07:38:04 PM

Quote from: Richy_T on January 20, 2016, 07:34:43 PM

Quote from: billyjoeallen on January 20, 2016, 07:30:39 PM

Quote from: Richy_T on January 20, 2016, 07:24:01 PM

Blocks are full. Let's see what happens.

https://www.reddit.com/r/btc/comments/41whvw/maximum_of_transactions_second_that_bitcoin_can/cz5v60m

It's the FULLBLOCALYPSE_TM

I think I'm done arguing. It just has to play out now.

(I was actually going to use that word but couldn't remember it exactly.)

big blocker capitulation is close ... they have no logical ground to stand on and the whole edifice is crumbling, Crassic was just the Hearn echo swansong

You don't seem to understand. Bigblockers will win if we crash the price far enough to persuade the miners to switch. If we fail in that, it's because the price is going up and they have no reason to listen to us. (if it ain't broke, don't fix it). So it's simple. Just keep pumping until we go away. That's how you'll get us to capitulate.

that's some crassic thinking right there

Cconvert2G36

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