Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 19756. (Read 26611279 times)

is btc ded  may i suggest to invest in vnl 

I find that wearing an 'aluminum hat' helps..keeps the 'blockchain elves' from reading my brilliant mind on trades etc.....but lately...I think they have thwarted my efforts....in that it also seems they 'sense' my move in the 'blockchain either' and do the opposite of what I needed done in my 'best interest' ...fiends (damn hat ...does not work..and I looked sooooo spiffy in it when I went to the local mall....all the envious stares...crap..now its back to the 'uncomfortable lead hat" damn it

BASE TEN MATH

Some day in the near future, Ten or more companies will make 10K transactions or more each. These are your usual suspects: Circle, 21, Coinbase, Bitpay, and some large exchanges.
10 X 10000 =100,000

On that same day, 100 smaller companies are going to make 1K transactions or more each. These are companies like purse.io, bitquick, small gambling sites, smaller exchanges, darknet sales, etc.
100 X 1,000=100,000

Also on that same day, 1000 or more companies will make 100 or more transactions selling goods, remittances, etc.
1,000 X 100=100,000

But we can't forget about the much more common small businesses and individual heavy users who will make ten or more transactions that day.
10,000 X 10=100,000

And then you have people like you and me who may make just one transaction.
100,000 X 1=100,000

So that fills up the entire days worth of blocks and then some, but we still have the light users, the ones who do maybe 1 transaction every 10 days:
1,000,000 x 0.1 =100,000

How many transactions is that? 600K? way too many. So fees creep up. 10% decide that the cost is too high in time or fees and give up.  How many left? 500K. still too many. Fees keep going up.  Transactions take hours to confirm. This makes some traders nervous, and they start pulling coins off exchanges. Traffic increases by the same 10% who gave up. This makes other people nervous. Coinbase and Bitpay users start to users start to fear their business model is unworkable and move their coins to private wallets. This increases traffic even more. It now takes 10 hours to confirm a transaction.

At this point, Ten of the many, many enemies of bitcoin see an opportunity. For $10,000 in fees, they flood the blockchain with yet MORE transactions, increasing the panic which of course makes even more people want to move their coins around. When they see how effective this attack is, they go for the kill and spend $100,000 to back up traffic for 10 days. 

What would happen after that is unpredictable, beyond the singularity. What do you think might happen?

By now, most people should realize that bitcoin is the main game in town, and it is way too early to consider any alt coin, except, possibly for their pump and dump attributes.

we should also realize that BjA is acting chicken little with this fullblocalypse bullshit, and we should not allow such fearmongering and hype to take our eyes off of the prize and we should not prematurely get lured into waste of time pump and dump supposed solutions to problems that do not really exist to any proximate degree that BjA is arguing.

In 2014, alts were a major distraction from bitcoin, and for the most part, we should all stay away from alt coins, unless we have some specific attraction to some alt coin or some coding or programing background that draws us to some specific alt; however, if some hypothetically unlikely fullblocalypse were to come close to occurring, then we can figure it out at that point... because at this point it is a pie in the sky speculation./..

There's such a strange relationship between Chinese price moves and Bitfinex price moves. They will move in sync in one direction but not another or at one time but not another. The best way I can describe it is 'against whatever my trade is'.

I'm so scared of the fullblockapocalypse that I shit my pants! OMFG!

There's such a strange relationship between Chinese price moves and Bitfinex price moves. They will move in sync in one direction but not another or at one time but not another. The best way I can describe it is 'against whatever my trade is'.

Absolutely. And the fact that forum administrators have done nothing to curtail BJA's postings should give you a clue.

If it helps, think of it as the invisible hand of the marketplace sending a signal.

There are literally zero legitimate non-monetary applications of the Bitcoin blockchain, almost by definition, so yes, hopefully Lightning and/or other improvements will destroy spam as much as possible.

Proof-of-existence/"notary" does not need to spam the blockchain. Proof-of-ownership does not exist. Coloured coins are monetary and Lightning-compatible (in theory). Voting systems have no sane use of the blockchain. None of these have any reason to be abusing OP_RETURN.

The rare use case which actually needs a blockchain for non-monetary purposes (eg, "BitDNS" aka Namecoin) can just as well use a sidechain.

    P.S. One could argue that Bitcoin blockchain was never intended to be used by such services, but that would mean that Bitcoin Core developers' actions lack consistency: first they introduce OP_RETURN, people start businesses, then they say "sorry, no more OP_RETURN outputs".

OP_RETURN was never meant for such abuses, only to commit to a hash of external data tied to a monetary transaction. (And even that is apparently unnecessary now.)

am i short??!?!!

i've never been so "short" ( I don't actually need to borrow someone else's bitcoin to be short) in my life!

MOTHER FUCKING DUMP !!!!!!!

If the blocopolypse happens which alt coin will be the best to invest in?