Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 21573. (Read 26610002 times)

Interesting article here about how the 'real' speed of the network is actually on 2.8TPS due to increased complexity of transactions due to mixing if I understand it correctly


https://tradeblock.com/blog/bitcoin-network-capacity-analysis-part-2-macro-transaction-trends

Blocksize increase anyone ?  

We have many new players coming to bitcoin all the time in the form of retailers, traders and miners mostly.  Yes, the "miners" portion is probably slowing down a little bit but they are still coming.  I see newbies in the mining threads all the time asking questions about mining.  The new one's who come along pick up the slack of any oldies who may have left bitcoin behind.  Especially, the newbies to trading bitcoin.

We are still very early in the game for bitcoin.  It's a new technology to most; much like the internet and email was to most when it first came out.  These things take time.  So, be patient and let the blockchain work things out.

We have many venture capital groups who have invested a lot of money into the technology of the blockchain.  Many user friendly apps for financial institutions will be coming out soon and will change the way billions in the world live their daily lives.  Many here may give up on bitcoin for lack of patience.  However, I know billions on this earth who have yet to even hear of it who will gladly accept it with open arms and give it the support it needs in great numbers.  There is strength in numbers.

As people in other parts of the world come into the fold of technology with smart phones and the like, we will see a increased enthusiasm for bitcoin - the application.  As other applications are created and used on the blockchain [with a relative ease and security] news will go around about the blockchain.  Bitcoin is not the blockchain.  The blockchain is bitcoin.  The blockchain is more than just bitcoin.  The blockchain is MANY things we have yet to see, but will see in time that will change the way we do many things in the future.

So, be patient...  The future is here...  It only needs a little time to play out.  In June of 2007 (eight years ago on June 29) we had the iPhone or the term, "smart phone."  That was only 8 years ago, people. Nobody ever heard the term, "Smart phone" until eight years ago.  Eight years is only a blink of an eye.  The "drama" in the price of bitcoin fluctuation is what it is - "drama."  We haven't had eight years yet with bitcoin.  

Do not fret!  Bitcoin (the app) will have it's day of recompense.  We just need to be patient and wait on the many other things the blockchain can do.  It's all about "the blockchain."  Not bitcoin!  Bitcoin, is only an application on the blockchain.  Be patient and watch how many other apps created using "the blockchain" technology changes the world.  THEN, you will see a change for the better in how the rest of the world values any other applications, such as bitcoin, using the blockchain technology.

All this talk of saying, "If the price goes below this amount, it's over."  I feel the price of bitcoin is directly related to the value of "the blockchain."  If the blockchain does well, then most any application using the blockchain will do well; as long as it's user friendly.  We are making progress in leaps and bounds with "user friendliness" ever since the blockchain and bitcoin first came out.  Give it time folks.  The blockchain and and it's apps [Including Bitcoin] will do wonders for mankind the same way the internet has.  Just give it time.  

Those who give up on it will lose in the end for their lack of patience.  Six years is but a fart in the wind in view of time and how technology changes.  As more time passes, we will see great strides in the blockchain and many user friendly apps using the blockchain technology; including bitcoin.

David

you know there are only 91 nodes in the whole of China, if anyone over there wants to use Bitcoin they would need depend on one of the other 5000 nodes over here, i don't think they have much bargaining power.

It seems that a somewhat more accurate headline would have been: "BTCChina and Huobi agree that the current 1 MB block size limit is too small, but think that 20 MB would be too big"

I'm just speculating, but the Winklevoss are going to need to submit another S-1A without mtgox, btc-e and other foreign exchanges listed in it.

Increasing the chance a block will be orphaned doesn't require that 'network traffic jump up', it just requires that that one block be propagated to the network more slowly than another simultaneous block.

That reminds me...see you in 15.

Chillax, Adam! This is your "throw-monkey-poo-on-the-wall-and-see-if-it-sticks" thread, not the Bitcoin Brain Trust. We really want too help you, but we're kind of stupid. And most of us aren't even devs.

oh come on! such ludicrous BS downloading 20MB is SOOOOOOOOO costly

seriously so much time has probably been wasted talking about this its not even funny
increase the limit and start working on ways ( sidechain or wtv) to reduce traffic on the main chain.
if i saw this happening in a calm and orderly fashion i'd send more fiat to the exchange, but i see Okcoin bitch and complain.

grrrrr

for it to propagated slower it has to be bigger. no?

It shouldn't be an issue in China - more like: Afghanistan, some countries in Africa and South America

The client probably needs more bandwidth for upload, but it's still laughable and we're not even at 1MB right now.

It shouldn't be an issue in China - more like: Afghanistan, some countries in Africa and South America

The client probably needs more bandwidth for upload, but it's still laughable and we're not even at 1MB right now.

the maximum block size was reached an average of more than four times per day so far in 2015, meaning at least some otherwise-acceptable transactions are seeing delayed confirmations due to capacity issues on the network 3% of the time since the beginning of the year