Bitcoin Price Tracking & Discussion -- 2017

[ChuckyTheGoat]

you were a little off on your $1500 prediction JJ

Shock, how many Wall Street analysts are STILL calling for this bubble to burst?

Please comment on this concept of fixed-supply. There will wind up being only 21.0Million Bitcoins produced. In some ways, that makes it different than fiat-currencies who can turn on the printing-press when they want, right?

[ans61201]

Am i seeing this wrong, coinbase got above 19,000 and then froze. Assuming that means the big sharks made their call in to start selling lol

But Gemini never saw get that high, was I seeing an incorrect number

[big joe 1212]

19k

what the fook is going on???

[ans61201]

Yeah, confirmed bitcoin was as high as 19 on coinbase but was in the 17,000's everywhere else

[big joe 1212]

Back to 18k one minute later

[ChuckyTheGoat]

Am i seeing this wrong, coinbase got above 19,000 and then froze. Assuming that means the big sharks made their call in to start selling lol

But Gemini never saw get that high, was I seeing an incorrect number

I think you're right. The calculation I'm seeing is $18,929 at Coinbase. Something is going on.

[Outsider626]

Gemini making me mad. Bitcoin price 17.5 but on their website it's 15.7.

[ans61201]

I think you're right. The calculation I'm seeing is $18,929 at Coinbase. Something is going on.

Yeah, someone just made a shit ton of money while the joes got froze out. I saw a 3.5k difference between coinbase and gem, was going to make a sell, knew something was up, on coinbase, and 3 seconds later it booted me off the site and servers are down.

[ans61201]

Gemini making me mad. Bitcoin price 17.5 but on their website it's 15.7.

If it holds steady buy buy buy on Gemini lol

[krk1030]

Missed out big time but at least I decided to deposit yesterday at nitrogen instead of intertops.

[Sam Odom]

Missed out big time but at least I decided to deposit yesterday at nitrogen instead of intertops.

https://www.sportsbookreview.com/forum/players-talk/3431743-nitrogen-sports-account-holders-happy.html#post27409840

[ans61201]

Coinbase freezes at 19,200, able to log back in 20 minutes later, 15,400. I get it, they have more traffic than they can handle, but this happens everytime. I don't intend to sell (usually) but definitely something fishy going on on their exchange aside from just high volume

[Outsider626]

Anyone knows why the price of bitcoin on gemini is 15k when in reality it's 17.5?

[ChuckyTheGoat]

Anyone knows why the price of bitcoin on gemini is 15k when in reality it's 17.5?

What site do u use as basis?

[Outsider626]

What site do u use as basis?

Google search lol.

[ans61201]

Anyone knows why the price of bitcoin on gemini is 15k when in reality it's 17.5?

A little like sports lines being different is my
Guess. They're not getting as much traffic as other sites. They haven't been selling btc that high so don't want to let people sell it at 17k. It's an insanely high volume right now, I think everything should correct itself and sync up shortly

[shocka1212]

Shock, how many Wall Street analysts are STILL calling for this bubble to burst?

Please comment on this concept of fixed-supply. There will wind up being only 21.0Million Bitcoins produced. In some ways, that makes it different than fiat-currencies who can turn on the printing-press when they want, right?

Thats exactly why they don't like it... the idea of a fixed amount of currency eats them alive because it takes leverage away from people like them who don't own majority marketshare so the playing field is equal which is not something the old Wall Street guys like. they've been fukking the American man looking to make some honest money for years and now that the opportunity is here for a decentralized market where you don't have to go into some fancy bank in Manhattan, they're triggered.

[shocka1212]

if we're being real here... ask yourself this question.. is there more money on Wall Street to bet on bitcoin tanking? or is there more money in the public decentralized world downloading coinbase and making some simple couple hundred dollar transactions into btc.. ill bet on the latter.. given the smallest future contract will be 5 BTC so that would be a lot of money to bet on a growing market cap taking a deep plunge. Take that into consideration next week when the CME's come into effect.

[ans61201]

if we're being real here... ask yourself this question.. is there more money on Wall Street to bet on bitcoin tanking? or is there more money in the public decentralized world downloading coinbase and making some simple couple hundred dollar transactions into btc.. ill bet on the latter.. given the smallest future contract will be 5 BTC so that would be a lot of money to bet on a growing market cap taking a deep plunge. Take that into consideration next week when the CME's come into effect.

To be fair who can sit on that money longer. Take the initial hit longer etc. average joe 500 dollars may not be able to withstand the hit without panic, as you're talking rookies to the investing game vs professionals. Not saying it'll cause a bitcoin tank, but it's apples to oranges comparing the two investors

[5mike5]

blockchain seems to be down.as.well

[shocka1212]

To be fair who can sit on that money longer. Take the initial hit longer etc. average joe 500 dollars may not be able to withstand the hit without panic, as you're talking rookies to the investing game vs professionals. Not saying it'll cause a bitcoin tank, but it's apples to oranges comparing the two investors

not comparing. But the biggest argument I've heard from the left is banking on the right just turning cheek and going back to the archaic way of moving funds around.

jp Morgan calling it a sham while secretly trading in San Fran... these guys are really shameless.

[LVHerbie]

Do you remember the Satoshi amount?

Is this the Sat/b listed in the transactions information? One was 92 the other was 95.

Any better estimates on the return time better than a long wait?

[TheMoneyShot]

Is this the Sat/b listed in the transactions information? One was 92 the other was 95.

Any better estimates on the return time better than a long wait?

A poster named craigpb here made a post on how to give the most precise estimate in judging fees... without over spending. I like blockchain wallet because it's easier to do quicker math using Sat/b. But if you use a different wallet... you might have to do a little bit more math using mBTC or BTC.

Let me give you an example....


This is the link to the chart https://bitcoinfees.earn.com/#fees








If I understood what craigpb posted... and yes... it has worked for me... several times. You are suppose to look for the ORANGE BAR that's JUST UNDER 1000 transactions.

You would then select the number of Satoshi for that transaction. There is a section called "ADVANCED SETTINGS" or something to that effect in which you can change the amount that Blockchain recommends. The chart is usually very accurate... but when the system is clogged with 140,000 pending transactions... doesn't always work.

This chart was printed around 6:15 PM Eastern time. So, if you were sending a transaction at this very moment... and wanted it to get there in a reasonable time... with the lowest fees possible. I would select between 271-280 Satoshi.

The estimates for Blocks... and Time are on the far right. As you can clearly see on the chart... some estimates are 1000 minutes... you definitely wouldn't want to select that. Some are even listed as INF... there's no set time to be confirmed. When the system gets clogged like this.. the Miners select the HIGHEST FEES FIRST... they always do this. The key is not getting gouged on the fees... and not needing it to be such a high priority... but getting there effectively.

The 3 circles on the lower far right show fastest times to be confirmed. More than likely it would be confirmed in UNDER 20 MINUTES. But... you'll pay a steep price.

Any other questions... feel free to ask.

[LVHerbie]

A poster named craigpb here made a post on how to give the most precise estimate in judging fees... without over spending. I like blockchain wallet because it's easier to do quicker math using Sat/b. But if you use a different wallet... you might have to do a little bit more math using mBTC or BTC.

Let me give you an example....


This is the link to the chart https://bitcoinfees.earn.com/#fees








If I understood what craigpb posted... and yes... it has worked for me... several times. You are suppose to look for the ORANGE BAR that's JUST UNDER 1000 transactions.

You would then select the number of Satoshi for that transaction. There is a section called "ADVANCED SETTINGS" or something to that effect in which you can change the amount that Blockchain recommends. The chart is usually very accurate... but when the system is clogged with 140,000 pending transactions... doesn't always work.

This chart was printed around 6:15 PM Eastern time. So, if you were sending a transaction at this very moment... and wanted it to get there in a reasonable time... with the lowest fees possible. I would select between 271-280 Satoshi.

The estimates for Blocks... and Time are on the far right. As you can clearly see on the chart... some estimates are 1000 minutes... you definitely wouldn't want to select that. Some are even listed as INF... there's no set time to be confirmed. When the system gets clogged like this.. the Miners select the HIGHEST FEES FIRST... they always do this. The key is not getting gouged on the fees... and not needing it to be such a high priority... but getting there effectively.

The 3 circles on the lower far right show fastest times to be confirmed. More than likely it would be confirmed in UNDER 20 MINUTES. But... you'll pay a steep price.

Any other questions... feel free to ask.

Thanks, I always just added a couple sat/b to blockchains estimates and never had a problem till yesterday when the number of pending unconfirmed transactions skyrocketed right after I sent. One was towards a sportsbook so (with the bitcoin price skyrocketing the last couple days don't really care if I get it returned) but the other was to get a bitpay debit card so not sure how that will work if I resend a new payment and a miracle happens and the first gets cleared.

On to other issues I was wanted to send a small payment of a couple hundred today to hit a line I liked but blockchain.info was recommended a fee of fukking $33 a couple hours ago so ending up passing. Wish more books were accepting of other alt-coins that have lower fees like Heritage and Bookmaker (although still only bitcoin withdraws there).

I really like dash as from what I heard the developers seem committed to keeping fees low enough to keep their coin functioning as a currency and not just a store of long term value like bitcoin has become.

[Waterstpub87]

A poster named craigpb here made a post on how to give the most precise estimate in judging fees... without over spending. I like blockchain wallet because it's easier to do quicker math using Sat/b. But if you use a different wallet... you might have to do a little bit more math using mBTC or BTC.

Let me give you an example....


This is the link to the chart https://bitcoinfees.earn.com/#fees








If I understood what craigpb posted... and yes... it has worked for me... several times. You are suppose to look for the ORANGE BAR that's JUST UNDER 1000 transactions.

You would then select the number of Satoshi for that transaction. There is a section called "ADVANCED SETTINGS" or something to that effect in which you can change the amount that Blockchain recommends. The chart is usually very accurate... but when the system is clogged with 140,000 pending transactions... doesn't always work.

This chart was printed around 6:15 PM Eastern time. So, if you were sending a transaction at this very moment... and wanted it to get there in a reasonable time... with the lowest fees possible. I would select between 271-280 Satoshi.

The estimates for Blocks... and Time are on the far right. As you can clearly see on the chart... some estimates are 1000 minutes... you definitely wouldn't want to select that. Some are even listed as INF... there's no set time to be confirmed. When the system gets clogged like this.. the Miners select the HIGHEST FEES FIRST... they always do this. The key is not getting gouged on the fees... and not needing it to be such a high priority... but getting there effectively.

The 3 circles on the lower far right show fastest times to be confirmed. More than likely it would be confirmed in UNDER 20 MINUTES. But... you'll pay a steep price.

Any other questions... feel free to ask.

I don't know how true that chart is. I sent something 3 hours ago with a 550+ s/bit fee, and still have 0 confirmations

Not that actual chart but that website.

[TheMoneyShot]

I don't know how true that chart is. I sent something 3 hours ago with a 550+ s/bit fee, and still have 0 confirmations

Not that actual chart but that website.

Don't forget to do the math in BITS.

1. You need to know the file size of your transaction in Bytes. For example... let's say it was 226 bytes. You need to use the chart... and select the appropriate going rate... and multiply.

2. For example.... if you want to select 4.0 bits. You multiply 226 bytes by 4 = 904 bits

You said you paid 550?? Did you do the math correctly? The price would be 904 bits. Not 550.

[Waterstpub87]

Which fee should I use?

The fastest and cheapest transaction fee is currently 410 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 92,660 satoshis.

Fee per byte 517.079 sat/B

Think I'm correct. Not sure.

[TheMoneyShot]

Which fee should I use?

The fastest and cheapest transaction fee is currently 410 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 92,660 satoshis.

Fee per byte 517.079 sat/B

Think I'm correct. Not sure.

Like LVHerbie was talking above... if you have a Blockchain wallet... it's much easier. You would just type in 410 and it would work. You could even type in 517 and it might be an over pay?? But it would get there.

Not every wallet works like Blockchain... sometimes you have to convert using mBTC... and do the math. I don't want to steer you in the wrong direction... but it sounds like you figured it out.

Remember... there's bits.... satoshi... mBTC... all depends on the wallet you're using.

[Waterstpub87]

Like LVHerbie was talking above... if you have a Blockchain wallet... it's much easier. You would just type in 410 and it would work. You could even type in 517 and it might be an over pay?? But it would get there.

Not every wallet works like Blockchain... sometimes you have to convert using mBTC... and do the math. I don't want to steer you in the wrong direction... but it sounds like you figured it out.

Remember... there's bits.... satoshi... mBTC... all depends on the wallet you're using.

I have a blockchain wallet. I sent with their priority. It was 517 per byte. I looked in the last block they published and their were transactions with much higher fees. It usually slows by now, by transactions keep coming in. I'll be waiting forever.

[ans61201]

Looks like the overdue correction may be hitting.

[ans61201]

As I type that, bitcoin drops from 15,700 to 15,100 then back to 16,080 lol all within a couple minute span. Nevermind. 🍺🍺🍺

[eidolon]

I don't know which way is up with bitcoin at the moment.
I finally transferred my ethereum coins over to bitcoin 2 days ago. but damn, i feel like this is the storm before the earthquake.

[Seaweed]

Is there a point of buying bitcoin for $200 at this point? How much would it have to increase for me to make $5,000?

[TheMoneyShot]

I have a blockchain wallet. I sent with their priority. It was 517 per byte. I looked in the last block they published and their were transactions with much higher fees. It usually slows by now, by transactions keep coming in. I'll be waiting forever.

With around 220,000 unconfirmed transactions at the moment... who really knows what's going on? Just food for thought... I never trust Blockchain's wallet recommendation in regards to fees. I always set my own price. Regardless if they claim Priority will get it there... sometimes it doesn't. Keep the chart handy... it does work... but hard to have any type of consistency when there's 220,000+ unconfirmed transactions at the moment. Miners take the highest fees... they always do. Hope it works out for you.

[GunShard]

It peaked at $18k-$19k then dropped to $16k range. It probably could go lower.