Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
billyjoeallen's short doesn't seem so ridiculous today.
Yeah, but from what I recall, he began to make it in about the mid $370s and he staggered it a bit to add more and more to it until about the $390s...
So, yeah, it's possible that we may go back down into the $390s or even lower, but BJA was probably considering going into the $360s or lower, which seems a bit of a further stretch.. not impossible, but todays momentum seems somewhat inclined towards the up... with possibly a correction to lower $400s or possibly into the $390s?
Yeah, I'm guessing too.
if todd tomorrow makes it clear that he will never touch 1MB block size
shit could hit the fan? who knows...
Yeah, but Todd is just one of the voices of the core supporters. Maybe he is vocalizing the general direction of core, but really if he were to assert "never" anything related to blocksize, he is going to be discredited, no? I mean any "never" is conditioned on a large number of variables, and if he were just expecting that there are going to be other work arounds, he really does not know how it is going to play out 6 months from now or even 2 years from now. So "never" may end up translating into 6 months, when conditions change, and when the situation needs to be reevaluated, no?
Adam, you really seem to be getting caught up on this Peter Todd thing and even this sense of emergency that we need 2mb now... it's as if you and BJA have traded accounts, because at the moment, even BJA is sounding a bit more measured. hahahahahhaha
I was under the impression core would bump limit eventually.
I was hoping Todd would confirm that, he didn't, if anything i feel he never wants to touch it, and wants LN to be the solution, that seems to be his end game. and he's willing to use FUD to get people agreeing with him, classic isn't acting with any more class, but thats no excuse to sink to their level.
I don't think we need 2MB NOW or everything is going to fall apart, but it has to be in the cards, or everything will eventually fall apart. thats my feeling, cheep TX is absolutely necessary for the network to keep growing, thats my view.
ill add that LN is going to be 100 orders of magnitude more expensive and any TX FEE
how much is hours / days of trying to figure how to send your payment safely worth to you?
time is costly as fuck.
Most of the time, I really enjoy reading your posts, and I think that you bring a lot to the table, even if I may not agree.
However, in this line of discussion, you seem to have gone nearly completely bonkers, and for what reason I don't know. It is like you seem obsessed with your ideas, and really they seem to be out there in their speculation and exaggerations that are frequently reading way too much into a variety of factors, including some of the evidence that you are presenting to support your conclusions.
For argument sake, let's say that currently transaction fees are somewhat open, discretionary and they can be free, at times, or range between $0 and $.25, depending on the service or how much the sender wants to include.
But probably the average reasonable fee for larger transactions (excluding micro-transactions for the moment for the sake of argument) is around $.08 per transaction.
a 100x increase would put the average at $8 per transaction, and that is quite outrageous, but really, I believe that you are speculating way too much. We got a long way to know for sure until we can figure out how much the transaction fees are going to be under a variety of scenarios, and if there is going to be some variation for size of the transaction... sending $10 value versus sending $1million... or a variety of other amounts.
you misunderstand
LN will be free ( or nearly free )
i'm saying there's a huge hidden cost to using LN, that cost is the time you'll need to get your head around the current state of your payment channel...
0.08$ fee or 30mins of thinking
ya ~100X more expensive...
hahahahahaha...
That's some pretty creative cost calculations and levity added to the equation... In any event, LN is quite a ways into the future anyhow. Just think about all the time each of us wastes in these various forums... (almost 65 days of my life for me, at the moment as i type).
And, I wonder if I should back off my earlier tentative assessment that you may have transitioned into:
A LITTLE BONKERS.
i'm nearly at 1 year. can you blame me for going bonkers?