YOLO Airport (Where I did my flight training and where mythbusters used that parachute plane, I almost blocked them lol) to Singapore
http://skyvector.com/?ll=38.579377107767435,-121.85705566334238&chart=304&zoom=3&plan=A.WS.WSSS:A.K2.KDWA
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31792. (Read 26720462 times)
November 22, 2013, 11:45:05 AM
BOARDING!
YOLO Airport (Where I did my flight training and where mythbusters used that parachute plane, I almost blocked them lol) to Singapore
http://skyvector.com/?ll=38.579377107767435,-121.85705566334238&chart=304&zoom=3&plan=A.WS.WSSS:A.K2.KDWA
YOLO Airport (Where I did my flight training and where mythbusters used that parachute plane, I almost blocked them lol) to Singapore
http://skyvector.com/?ll=38.579377107767435,-121.85705566334238&chart=304&zoom=3&plan=A.WS.WSSS:A.K2.KDWA
November 22, 2013, 11:37:40 AM
786 is key resistance! Need the breakthrough before the moon, them rockets don't build themselves you know.
Seem to me we are building the platform to blast right through that resistance as we speak
Gox 6hr chart looks exactly like that - no way it is a top
What is typically made of the declining volume coming off the spike at 900 in both directions-- you know, the mountain with equal sides of volume on that same chart?
...bump...
Yoya? Anyone?
November 22, 2013, 11:36:34 AM
There's honestly no reason to be bearish on Bitcoin, for any reason, except the centralization of Bitcoin. (Which seems they are proposing) The only thing required to overcome the 1mb limit and maintain it, is to increase off blockchain transactions. This is what Ripple is for and will allow Bitcoin transactions with virtually no limit.
Though Ripple is centralized - does this not beat the purpose of Bitcoin entirely? In essence we'll have created a commodity like gold, but NOT a currency.
How much decentralized is bitcoin today, when its meat (yes, I am talking about miners) is controlled by few ASIC manufacturing corporations and its bones (users) put their trust into unreliable (and centralized) exchanges. I´d switch to ripple client as bitcoin trading tool entirely, if not for still relatively low (but rising) liquidity. Atleast I can use it without Open Labs wanting my ID card and 1% transaction fees.
November 22, 2013, 11:34:32 AM
Not sure if your intention is to argue for or against me, but that exactly shows why the 7 tps limit is by design (thus should not be removed to ensure decentralization, another key point in bitcoin design) and makes it impossible for it to compete with credit card companies.
Who says bitcoin is competing with credit card companies? They both serve very different purposes.
November 22, 2013, 11:32:58 AM
As I understand it, the payment processors referred to in the video would handle smaller value transactions at a rate much faster than 7tps, which would then be added to the blockchain by the payment processor.
I am not a techy, so my understanding may be incorrect, but this is how I understood it.
Perhaps there is someone more qualified on hand who could explain how this would work.
I am also speculating that it is exactly this kind of 'bolt on' service that is part of the planned evolution of Bitcoin and why we see VC money coming in now.
I am not a techy, so my understanding may be incorrect, but this is how I understood it.
Perhaps there is someone more qualified on hand who could explain how this would work.
I am also speculating that it is exactly this kind of 'bolt on' service that is part of the planned evolution of Bitcoin and why we see VC money coming in now.
Basically a fancy escrow service. Which is what banks and the credit card companies are at the moment in certain aspects.
November 22, 2013, 11:30:38 AM
I think we're at or approaching 1 tx a second.. so we need 7x as many were getting now before we start to worry about that.
Imagine the utopian mass adoption that's being fed to the public.
Take a small country (or a large American city) with about 15 million inhabitants, or 5 million households.
Every household will have to do groceries about each other day, so that's 2.5 million customers in supermarkets each day countrywide.
Day has 24 hours, so that's 104166 transactions per hour
= 29 transactions per second
And this is for one small country only, for only the basic needs (food), and that's already 4 times what the Bitcoin network can physically handle.
You're not going to convince me that the Bitcoin protocol will ever be able to sustain a world economy for day-to-day transactions.
Hence why I'll always be bearish, even though it's a great market to profit from atm.
Nonsense. Only a retard would think that a block-chain based currency is efficient for day-by-day purchases as grocery shopping.
As warchwoord said 1MB max block hard limit was placed BY DESIGN. The point of BTC is the universal ledger and the possibility for everyone to run a full node. It's meant to be a safe and decentralized way to store and transfer value (among other things), not to be a micro payment network competing with Visa or PayPal.
99% of BTC economy is driven by investors and speculators, what makes you think that it has to change at some point? You don't buy groceries with gold neither.
I mean maybe it would cause more problems though if it was all fully mainstream
The whole Kenya is not using Bitcoin to buy groceries. Not a single city in Kenya is using Bitcoin to buy groceries. The current block soft-limit is 250kb. If a single city of Kenya was using Bitcoin to buy groceries, the 1MB hard-limit wouln't even be enough.
November 22, 2013, 11:26:42 AM
Not sure if your intention is to argue for or against me, but that exactly shows why the 7 tps limit is by design (thus should not be removed to ensure decentralization, another key point in bitcoin design) and makes it impossible for it to compete with credit card companies.
As I understand it, the payment processors referred to in the video would handle smaller value transactions at a rate much faster than 7tps, which would then be added to the blockchain by the payment processor.
I am not a techy, so my understanding may be incorrect, but this is how I understood it.
Perhaps there is someone more qualified on hand who could explain how this would work.
I am also speculating that it is exactly this kind of 'bolt on' service that is part of the planned evolution of Bitcoin and why we see VC money coming in now.
November 22, 2013, 11:25:45 AM
stamps forming a limp one
strengthening the support
November 22, 2013, 11:25:05 AM
99% of BTC economy is driven by investors and speculators, what makes you think that it has to change at some point? You don't buy groceries with gold neither.
That is exactly my point as to why it would never be a CURRENCY in this format. Remember that this is the picture that is being fed to the general public, and they will invest based on this assumption. It took me weeks if not months of research to get a clear picture of what BTC is and how it is used - do not expect the general public to do the same right from the start. They will do that when the bubble starts to properly pop.
The general public doesn't care about paying con Bitcoin their groceries, the general public buys Bitcoin just because it is supposed to increase in value.
November 22, 2013, 11:24:28 AM
There's honestly no reason to be bearish on Bitcoin, for any reason, except the centralization of Bitcoin. (Which seems they are proposing) The only thing required to overcome the 1mb limit and maintain it, is to increase off blockchain transactions. This is what Ripple is for and will allow Bitcoin transactions with virtually no limit.
Though Ripple is centralized - does this not beat the purpose of Bitcoin entirely? In essence we'll have created a commodity like gold, but NOT a currency.
November 22, 2013, 11:22:28 AM
stamps forming a limp one
November 22, 2013, 11:22:21 AM
http://
i read the wsj article where someone valued his 8 BTC as 8 MILLION by next November!!!
..needless to say i'm holding to $10,000+ lol
price held up while i was sleeping
its going to 3000$ boys, and it won't stop there... sell your gold!
its going to 3000$ boys, and it won't stop there... sell your gold!
i read the wsj article where someone valued his 8 BTC as 8 MILLION by next November!!!
..needless to say i'm holding to $10,000+ lolWTF???
Link or it didn't happen.i value the remainder of my stash at infinity.
i will spend it wisely
last night i sold, today price is up, lol typical....
Haha, yeah well, lets just hope when the value is fluctuating between 13000 and 14500 in several seasons we are still around. It's really dangerous to be off this train. (It's impossible to beat 4000% in one year) Will history repeat, again? (puts on tin foil hat, grabs magick 8 ball)
November 22, 2013, 11:21:16 AM
i'm like a bitcoin profit or somthing.
subscribe to bitmovements
November 22, 2013, 11:20:19 AM
Not sure if your intention is to argue for or against me, but that exactly shows why the 7 tps limit is by design (thus should not be removed to ensure decentralization, another key point in bitcoin design) and makes it impossible for it to compete with credit card companies.
There's honestly no reason to be bearish on Bitcoin, for any reason, except the centralization of Bitcoin. (Which seems they are proposing) The only thing required to overcome the 1mb limit and maintain it, is to increase off blockchain transactions. This is what Ripple is for and will allow Bitcoin transactions with virtually no limit.
November 22, 2013, 11:19:34 AM
786 is key resistance! Need the breakthrough before the moon, them rockets don't build themselves you know.
Seem to me we are building the platform to blast right through that resistance as we speak
Gox 6hr chart looks exactly like that - no way it is a top
What is typically made of the declining volume coming off the spike at 900 in both directions-- you know, the mountain with equal sides of volume on that same chart?
November 22, 2013, 11:18:18 AM
I think we're at or approaching 1 tx a second.. so we need 7x as many were getting now before we start to worry about that.
Imagine the utopian mass adoption that's being fed to the public.
Take a small country (or a large American city) with about 15 million inhabitants, or 5 million households.
Every household will have to do groceries about each other day, so that's 2.5 million customers in supermarkets each day countrywide.
Day has 24 hours, so that's 104166 transactions per hour
= 29 transactions per second
And this is for one small country only, for only the basic needs (food), and that's already 4 times what the Bitcoin network can physically handle.
You're not going to convince me that the Bitcoin protocol will ever be able to sustain a world economy for day-to-day transactions.
Hence why I'll always be bearish, even though it's a great market to profit from atm.
Nonsense. Only a retard would think that a block-chain based currency is efficient for day-by-day purchases as grocery shopping.
As warchwoord said 1MB max block hard limit was placed BY DESIGN. The point of BTC is the universal ledger and the possibility for everyone to run a full node. It's meant to be a safe and decentralized way to store and transfer value (among other things), not to be a micro payment network competing with Visa or PayPal.
99% of BTC economy is driven by investors and speculators, what makes you think that it has to change at some point? You don't buy groceries with gold neither.
I mean maybe it would cause more problems though if it was all fully mainstream
November 22, 2013, 11:16:18 AM
price held up while i was sleeping
its going to 3000$ boys, and it won't stop there... sell your gold!
its going to 3000$ boys, and it won't stop there... sell your gold!
i read the wsj article where someone valued his 8 BTC as 8 MILLION by next November!!!
..needless to say i'm holding to $10,000+ lolWTF???
Link or it didn't happen.i value the remainder of my stash at infinity.
i will spend it wisely
last night i sold, today price is up, lol typical....
November 22, 2013, 11:15:55 AM
Not sure if your intention is to argue for or against me, but that exactly shows why the 7 tps limit is by design (thus should not be removed to ensure decentralization, another key point in bitcoin design) and makes it impossible for it to compete with credit card companies.
I speculate the argument goes no where. But hypothesize that.. the bears are sitting in the tree line whale spotting
November 22, 2013, 11:13:38 AM
Not sure if your intention is to argue for or against me, but that exactly shows why the 7 tps limit is by design (thus should not be removed to ensure decentralization, another key point in bitcoin design) and makes it impossible for it to compete with credit card companies.
November 22, 2013, 11:13:33 AM
Anyone knows what is the thought for the bitcoin to go to enormous rates (like 5k or 10k) per BTC?
I mean there are already cryptocoins following bitcoins and these can also be added as a way of payment in various ecommerce and such.
Or maybe there is something more to these than ecommerce?
I mean there are already cryptocoins following bitcoins and these can also be added as a way of payment in various ecommerce and such.
Or maybe there is something more to these than ecommerce?
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