Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 7640. (Read 26720735 times)

Care to elaborate? Or are you just trying to grind lightfoots gears?

Bitcoin transfers are instant.

Yeah.  People do not understand that the innovation in MimbleWimble is not the "privacy", but the potential for scaling with a lightweight blockchain.  I think that is why so many bitcoin talk OGs were interested.

But it is unproven tech, and  Grin is the proving ground for better or worse.

It's economics are also interesting.  And in some ways obviously not designed for competition with BTC.  I have never mined, nor bought a single pip of Grin, myself.

I find people's obsession with alts failing to be a telling thing about someone's security when it comes to Bitcoin's place as the lindy project with network effect.

In the end we HAVE to do the experiments.

Some coin HAS to try to be a world computer and do all calc on chain. (ETH)
Some coin HAS to have no blocksize limit and store all kinds of data on chain and centralize. (BSV)
Some coin has to have inflationary monetary policy. (Doge?)
Some project has to have an opaque base layer, and be capable of truly private use. (Monero?)
ETC ETC ETC
Grin gets to try to prove out mimblewimble.

And then there are all the projects that have no purpose because they try to compromise on one or more of those aspects in the name of "moderation" (BCH?).  

We simply cannot live in a world where BITCOIN exists as an open source distributed ledger tech attempting to become money where competing forks and copycat software does not exist.  Can't have both of those things.

It sucks for those of us old enough to have less life left to live as this stuff works itself out... but it has to work itself out.

My bet is on Bitcoin.  (Well, and I do keep a Monero side bet so to speak...  I just list that here to make JJG froth)

Honestly, if you need transactions to clear really quickly I'd suggest using litecoin at this point.

Yes, it's a shitcoin, but if you've got a hooker in your room, she's done her job, and you want her gone (that's why you pay hookers: To leave) a 2.5 minute confirmation time is of high value. Right now standing around for 30 minutes doing idle chitshat is not worth any amount in fees :-)

When did I ever say anything of the sort?

Right. Also the more miners, the greater the difficulty and the less profit per miner anyway. It's a pure queen's race and the perfect example of a perfect marketplace. Has no bearing on fees beyond a 2 week difficulty adjustment period.

Ibian does not seem to "get it". There is no magic wand to wave over bitcoin to get what you want or "deserve". That's part of the reason why I like it: The rules are pretty solid.

Someone explained how mining empty blocks work recently. I don't know much about all the little tricks they can use, but basically it's a gamble. It doesn't always work and when it doesn't that's mining power out the window.

In my view, price is creeping up again, ready to blow higher with leaps.

The current stability is good. Feeds the rocket.

My mind is telling me not to expect much of the price in the coming days, but I have a gut feeling that there's something brewing. A calm before the storm? The price is stabilizing around $9700 refusing to go up or down. May be this is a sign that the bulls are preparing to charge the $10K resistance like a red flag and level up 1K and more?



And I wonder what the $4.5 billion tethers printed since March 30th and May 14th are waiting for? If only 1/3 of this amount is used for bitcoins, a price above $14K is definitely possible this year.

Welcome back Max Headroom

 

You mean by mining empty blocks to artificially increase demand for block space? Admittedly I have not looked for a while, but does that still happen? The only time when the mempool is full that I see empty blocks is if one is mined immediately after another one.

And technically it's still 1MB in the code, we just don't have to include all of the transaction data we used to, so we can squish more in.

Good morning Bitcoinland.

More of the same: up, down, and ending up sideways... currently $9769USD/$13562CAD (Bitcoinaverage).

Yawn. Stronger coffee please.


ftfy

The miners compete for solved blocks and fees. The more miners, the less each of them gain and the less each of them have the ability to manipulate the market as a whole.

Also it's 2MB. Remember? We had that whole civil war on the best way to increase the size?

? The only supply and demand involved is demand for space in each block. The supply of space is fixed, at 1MB. It doesn't matter if there is one miner or one billion, or what the hash rate of the network is. The only thing that sets fees is how much people are willing to pay to get into a block. When demand is low, fees are low, and visa-versa.

uh... supply and demand?

Superstition is probably genetic. Even someone like Jung believed in synchronicity. We see patterns where there are none, that's all it is.

BOOOYYYYYYZZZZZZZ 
Just saw i can wear my hat again!
Hold my beer...

Shit dude, i'm sorry for your loss.
Take my last sMerit.

Man, sorry to hear that VB...

Well, at least it was need, and not fear, that made you sell. After all, there are much more important things in life than even Bitcoin... In the end, it's just a tool, a means to realise our wants and needs. And if there's a great need for something very important, you use your fiat/BTC/whatever you have...

Just keep accumulating. I strongly believe that in a few years' time, having even one (1) BTC will be enough to set you up for life.