Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 19616.

JayJuanGee

legendary

Activity: 3920

Merit: 11299

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

Quote from: Arcteryx on January 14, 2016, 08:59:14 PM

Quote from: JayJuanGee on January 13, 2016, 05:44:58 PM

Quote from: MatTheCat on January 13, 2016, 08:11:01 AM

Will Bitcoin ever find a bottom?

Quote from: abercrombie on January 12, 2016, 09:53:45 PM

is crypto done???

Yep.... bitcoin's current situation is so horrible that it is preparing to CRASH.....

UP!!!!!

Cheesy

It is crashing right now, if seeing it drop a dollar per minute is not foreboding then I don't know what is Huh

$433 then all the way down to $421. Ohhh the humanity! Shocked

These ups and downs should be expected, especially since the volume has been so low in the past few weeks. Accordingly, if the price is pushed either up or down, then there will be an increase in volume. A person or entity with only a few million dollars (maybe $20 million) can be considerably effective in playing various price manipulation games when the volume is so low.

When the volume picks up, on the other hand, then it takes a bit more capital to attempt price manipulations.

DaRude

legendary

Activity: 2833

Merit: 1851

In order to dump coins one must have coins

Quote from: JayJuanGee on January 14, 2016, 09:29:37 PM

Quote from: DaRude on January 14, 2016, 08:47:51 PM

Quote from: billyjoeallen on January 14, 2016, 08:38:56 PM

If you double the blocksize, you also double the fees miners get paid without increasing the rate at all!
This might increase the cost of mining by some tiny fraction but nowhere near 100%. So let's be generous and say 2MB blocks will cost miners 110% of 1 MB Blocks.

So how about this calculation:

scenario A: 12.5BTCblockreward+3BTCxactionfees=15.5 BTCminerreward

scenario B: (12.5BTCblockreward+6BTCxactionfees)/1.1=16.818BTCminerreward

And that doesn't even factor in the very likely probability that BTC exchange rate will go up significantly due to the added utility.

So why do miners object? Could it be that they will get no reward at all because they are mining over a slow internet connection (through TOR or behind the Great Firewall) that means they cannot compete with miners with faster connections?

All the other objections are just to obscure this one. The real one. Forget the decentralization argument. Forget the "any hard fork is too radical" rationalization. These are not honest people and they are taking wealth, not making wealth.

Maybe cause they want to show solidarity and are hoping for an organic growth of the core without intensifying the fighting and splitting in pro/against camps Roll Eyes

imagine what would that do to a price

Maybe also there is a sense that "if it's not broke, then why fix it?"

Not broke ... yet. Don't think anyone can argue that 1MB 3tps is sustainable.

JayJuanGee

legendary

Activity: 3920

Merit: 11299

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

Quote from: DaRude on January 14, 2016, 08:47:51 PM

Quote from: billyjoeallen on January 14, 2016, 08:38:56 PM

If you double the blocksize, you also double the fees miners get paid without increasing the rate at all!
This might increase the cost of mining by some tiny fraction but nowhere near 100%. So let's be generous and say 2MB blocks will cost miners 110% of 1 MB Blocks.

So how about this calculation:

scenario A: 12.5BTCblockreward+3BTCxactionfees=15.5 BTCminerreward

scenario B: (12.5BTCblockreward+6BTCxactionfees)/1.1=16.818BTCminerreward

And that doesn't even factor in the very likely probability that BTC exchange rate will go up significantly due to the added utility.

So why do miners object? Could it be that they will get no reward at all because they are mining over a slow internet connection (through TOR or behind the Great Firewall) that means they cannot compete with miners with faster connections?

All the other objections are just to obscure this one. The real one. Forget the decentralization argument. Forget the "any hard fork is too radical" rationalization. These are not honest people and they are taking wealth, not making wealth.

Maybe cause they want to show solidarity and are hoping for an organic growth of the core without intensifying the fighting and splitting in pro/against camps Roll Eyes

imagine what would that do to a price

Maybe also there is a sense that "if it's not broke, then why fix it?"

DaRude

legendary

Activity: 2833

Merit: 1851

In order to dump coins one must have coins

Quote from: billyjoeallen on January 14, 2016, 09:12:38 PM

Quote from: DaRude on January 14, 2016, 08:47:51 PM

Quote from: billyjoeallen on January 14, 2016, 08:38:56 PM

If you double the blocksize, you also double the fees miners get paid without increasing the rate at all!
This might increase the cost of mining by some tiny fraction but nowhere near 100%. So let's be generous and say 2MB blocks will cost miners 110% of 1 MB Blocks.

So how about this calculation:

scenario A: 12.5BTCblockreward+3BTCxactionfees=15.5 BTCminerreward

scenario B: (12.5BTCblockreward+6BTCxactionfees)/1.1=16.818BTCminerreward

And that doesn't even factor in the very likely probability that BTC exchange rate will go up significantly due to the added utility.

So why do miners object? Could it be that they will get no reward at all because they are mining over a slow internet connection (through TOR or behind the Great Firewall) that means they cannot compete with miners with faster connections?

All the other objections are just to obscure this one. The real one. Forget the decentralization argument. Forget the "any hard fork is too radical" rationalization. These are not honest people and they are taking wealth, not making wealth.

Maybe cause they want to show solidarity and are hoping for an organic growth of the core without intensifying the fighting and splitting in pro/against camps Roll Eyes

imagine what would that do to a price

They are showing solidarity with each other, but open hostility to their customers, the users, the holders, the companies and the people that have done the most to promote Bitcoin. That is not how successful business is done.

"organic" growth is a stalling term. There's nothing organic about an arbitrary cap imposed by a cabal of sidechain peddlers and miners with slow connections. The DDOS attacks and censorship wasn't decreasing the fighting. Those tactics were used EXCLUSIVELY used by smallblockers.

Again still think that's better than two (or more) waring factions trying to convince more people to stick to their chain

suda123

full member

Activity: 210

Merit: 100

oh go all these mother fucking cheap coins, i can't wait to buy on my payday LOL

Im to busy watching the economy collapse to even care at this point, also in live view

https://www.google.com/finance?cid=7521596

lottery248

legendary

Activity: 1582

Merit: 1006

beware of your keys.

Quote from: ChartBuddy on January 14, 2016, 09:05:49 PM

Coin

Explanation

it is crashing from $430! how could this happen? anyone here gets any news about the issue to the bitcoin price?

Quote from: heartastack on January 14, 2016, 09:09:18 PM

The elevator stopped working I think I'll take the window home today.

what do you mean? how can you take the window home?

billyjoeallen

legendary

Activity: 1106

Merit: 1007

Hide your women

Quote from: DaRude on January 14, 2016, 08:47:51 PM

Quote from: billyjoeallen on January 14, 2016, 08:38:56 PM

If you double the blocksize, you also double the fees miners get paid without increasing the rate at all!
This might increase the cost of mining by some tiny fraction but nowhere near 100%. So let's be generous and say 2MB blocks will cost miners 110% of 1 MB Blocks.

So how about this calculation:

scenario A: 12.5BTCblockreward+3BTCxactionfees=15.5 BTCminerreward

scenario B: (12.5BTCblockreward+6BTCxactionfees)/1.1=16.818BTCminerreward

And that doesn't even factor in the very likely probability that BTC exchange rate will go up significantly due to the added utility.

So why do miners object? Could it be that they will get no reward at all because they are mining over a slow internet connection (through TOR or behind the Great Firewall) that means they cannot compete with miners with faster connections?

All the other objections are just to obscure this one. The real one. Forget the decentralization argument. Forget the "any hard fork is too radical" rationalization. These are not honest people and they are taking wealth, not making wealth.

Maybe cause they want to show solidarity and are hoping for an organic growth of the core without intensifying the fighting and splitting in pro/against camps Roll Eyes

imagine what would that do to a price

They are showing solidarity with each other, but open hostility to their customers, the users, the holders, the companies and the people that have done the most to promote Bitcoin. That is not how successful business is done.

"organic" growth is a stalling term. There's nothing organic about an arbitrary cap imposed by a cabal of sidechain peddlers and miners with slow connections. The DDOS attacks and censorship wasn't decreasing the fighting. Those tactics were used EXCLUSIVELY used by smallblockers.

heartastack

hero member

Activity: 714

Merit: 500

The elevator stopped working I think I'll take the window home today.

jbreher

legendary

Activity: 3080

Merit: 1688

lose: unfind ... loose: untight

Quote from: aztecminer on January 14, 2016, 10:11:56 AM

the real reason we are at this price is because the federal govy pumped bitcoin using back channels so they could make a quick profit on the marshal's auction ..

You persist in saying this. Yet you have not offered your theory as to the mechanism by which the gov accomplished this pump, let alone provide any evidence thereof.

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Coin

Explanation

fisheater22

member

Activity: 84

Merit: 10

Yep. It's not great you guys :& Last chance to buy above 420?

jbreher

legendary

Activity: 3080

Merit: 1688

lose: unfind ... loose: untight

Quote from: AlexGR on January 14, 2016, 08:25:49 AM

It's just like the highway. You pay more for your own car, you go faster than the bus. You pay a cab, you go faster than the bus. If you want to go "economy", you keep your money and take the bus.

Well, no. It is not just like the highway. The difference is that when traffic increases to max safe capacity, additional lanes are constructed.

Arcteryx

hero member

Activity: 728

Merit: 500

EtherSphere - Social Games

Quote from: JayJuanGee on January 13, 2016, 05:44:58 PM

Quote from: MatTheCat on January 13, 2016, 08:11:01 AM

Will Bitcoin ever find a bottom?

Quote from: abercrombie on January 12, 2016, 09:53:45 PM

is crypto done???

Yep.... bitcoin's current situation is so horrible that it is preparing to CRASH.....

UP!!!!!

Cheesy

It is crashing right now, if seeing it drop a dollar per minute is not foreboding then I don't know what is Huh

$433 then all the way down to $421. Ohhh the humanity! Shocked

podyx

legendary

Activity: 2338

Merit: 1035

abercrombie

legendary

Activity: 1159

Merit: 1001

is crypto done?? Huh

DaRude

legendary

Activity: 2833

Merit: 1851

In order to dump coins one must have coins

Quote from: billyjoeallen on January 14, 2016, 08:38:56 PM

If you double the blocksize, you also double the fees miners get paid without increasing the rate at all!
This might increase the cost of mining by some tiny fraction but nowhere near 100%. So let's be generous and say 2MB blocks will cost miners 110% of 1 MB Blocks.

So how about this calculation:

scenario A: 12.5BTCblockreward+3BTCxactionfees=15.5 BTCminerreward

scenario B: (12.5BTCblockreward+6BTCxactionfees)/1.1=16.818BTCminerreward

And that doesn't even factor in the very likely probability that BTC exchange rate will go up significantly due to the added utility.

So why do miners object? Could it be that they will get no reward at all because they are mining over a slow internet connection (through TOR or behind the Great Firewall) that means they cannot compete with miners with faster connections?

All the other objections are just to obscure this one. The real one. Forget the decentralization argument. Forget the "any hard fork is too radical" rationalization. These are not honest people and they are taking wealth, not making wealth.

Maybe cause they want to show solidarity and are hoping for an organic growth of the core without intensifying the fighting and splitting in pro/against camps Roll Eyes

imagine what would that do to a price

billyjoeallen

legendary

Activity: 1106

Merit: 1007

Hide your women

If you double the blocksize, you also double the fees miners get paid without increasing the rate at all!
This might increase the cost of mining by some tiny fraction but nowhere near 100%. So let's be generous and say 2MB blocks will cost miners 110% of 1 MB Blocks.

So how about this calculation:

scenario A: 12.5BTCblockreward+3BTCxactionfees=15.5 BTCminerreward

scenario B: (12.5BTCblockreward+6BTCxactionfees)/1.1=16.818BTCminerreward

And that doesn't even factor in the very likely probability that BTC exchange rate will go up significantly due to the added utility.

So why do miners object? Could it be that they will get no reward at all because they are mining over a slow internet connection (through TOR or behind the Great Firewall) that means they cannot compete with miners with faster connections?

All the other objections are just to obscure this one. The real one. Forget the decentralization argument. Forget the "any hard fork is too radical" rationalization. These are not honest people and they are taking wealth, not making wealth.

DaRude

legendary

Activity: 2833

Merit: 1851

In order to dump coins one must have coins

Quote from: tomothy on January 14, 2016, 04:42:51 PM

I'm not sure if you guys have read this yet but it's crazy...

Mike Hearn's exit mic drop

I find it tough to dispute his arguments. It's getting close to fork or die time...

https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.m7ipd85nk

Quote

"...if decentralisation is what makes Bitcoin good, and growth threatens decentralisation, then Bitcoin should not be allowed to grow.

Honestly it's hard to disagree with this statement. Growing now at a cost of centralization is very short sighted. I do believe that centralization is Bitcoins' Achilles' heel. Now how much centralization would a 2MB or an 8MB block cause that can be debated. Don't really get the end of the world catastrophe just yet. Lets get SegWit in there, and bump blocks to 2MB to be extra conservative, and have a sidechain do 0 confs, then we party!

JayJuanGee

legendary

Activity: 3920

Merit: 11299

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

Quote from: billyjoeallen on January 14, 2016, 07:30:00 PM

Quote from: becoin on January 14, 2016, 06:59:24 PM

Quote from: r0ach on January 14, 2016, 06:05:22 PM

He's basically claiming that if the blocks ever fill up, then Bitcoin has failed.

I have always suspected this guy is a clueless zombie. Quite the opposite, filled up blocks is not a failure but success! Economy is always about supply and demand. Success of a product or service you are offering is measured by how much demand is surpassing supply.

We're still at less than 50% of the ATH that occurred over TWO YEARS AGO and you call that success? The only money that's going into transaction fees is the money that's coming out of BTC market cap. You're effectively getting a negative return on the blockspace you're selling. Maybe you were sick the day they taught economics in Economics 101.

Scenario I: (25BTCblockreward+0.2BTCxactionfees)X($1100/BTC)=$27720

Scenario II: (25BTC+6BTCxactionfees)X($450/BTC)=$13950

Success my ass. You're either being stupid or dishonest.

There are a lot of ways to measure success besides your one tune marching band issues. You can look at a multitude of charts on blockchain.info, and you will see a lot of growth in bitcoin transactions and computing power. That's success.

You can also see a lot of development around bitcoin. That's success. You can also see a variety of innovations and lame attempts at imitating bitcoin. That's success.

You can also see recognition of major banking and educational institutions regarding the paradigm changing nature of bitcoin... what you call that?

Wait

wait

wait...

Success!!!!!!!

Stop trying to trivialize bitcoin with your doom and goom scenarios and whining because you are not getting your way... .

even if bitcoin fails or is imitated or loses market share, it has been successful... and at the moment continues to meet the definition of success, in spite of price and in spite of scaling controversies.

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Coin

Explanation

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 19616. (Read 26608495 times)