Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[hdbuck]

I suppose this is their new exchange
https://atlasats.com/

Be skeptical to this atlasats thing. The MarketWatch "article" has the guy behind it bragging about their own network and blah blah. Meanwhile, it's hosted on Amazon EC2. Amazon EC2 is mostly used to host scams, spambots and that sort of thing. Anyone who runs a webserver will tell you that their logs are full of attack attempts from Amazon EC2, your best of putting a -j DROP on their entire IP-range.

In other news, Crayon Pop is about to release a new single: http://www.soompi.com/2014/03/12/crayon-pop-takes-off-helmet-and-dons-hanbok-for-upcoming-new-single/#.UyGHF3XZKXl

ok thx for the headsup.

defo bullish on crazy pop news..

[dreamspark]

I suppose this is their new exchange
https://atlasats.com/

Be skeptical to this atlasats thing. The MarketWatch "article" has the guy behind it bragging about their own network and blah blah. Meanwhile, it's hosted on Amazon EC2. Amazon EC2 is mostly used to host scams, spambots and that sort of thing. Anyone who runs a webserver will tell you that their logs are full of attack attempts from Amazon EC2, your best of putting a -j DROP on their entire IP-range.

In other news, Crayon Pop is about to release a new single: http://www.soompi.com/2014/03/12/crayon-pop-takes-off-helmet-and-dons-hanbok-for-upcoming-new-single/#.UyGHF3XZKXl

Are they for real? How can they expect to be taken seriously while hosting on EC2. Its so obvious as well their webpage takes forever to load.

[JorgeStolfi]

So here is a stupid question to kill time: Suppose the Evil Lords decide to use the bitcoins seized from Silk Road and other places to kill bitcoin by spamming it with billions of tiny transactions, as fast as they can.  How would the network defend itself from that attack?

I am guessing, but I thought that the network just processes transactions in the order received, and if there is a fee attached, then those transactions are processed first. 

Billions is a lot... and I suppose that the problem could be made worse by creating some repetition of the transactions - after the first ones are processed, they are put back into the cue.

 If there are so many transactions that the network is overwhelmed... the network may go down for a period of time. and then maybe a fork in the code to restart?  YES>... I am continuing to guess.

You know you have an anti-fragile system when the worst thing your enemies can do is throw money at you.

Like, dumping ten tons of pennies over you.

For concreteness, suppose they have 100,000 BTC previously spread out over that many addresses, and start sending out 10-satoshi transactions between those addresses with 1 satoshi of fee.  They can send 10^13 (10 trillion) such transactions before they run out of coins.  Would the network handle that?

[roslinpl]

I like this voting stats

We can clearly see our community are rather optimists

700$ will come soon!

♥BTC

[Pruden]

I wouldn't use Germany as a shining example of a worker's paradise if I were you. It's a place where they work year round to bail out Greeks and Italians who take summers off.

billiyjoeallen, I wish your facts supported your bright rethoric.

http://www.usatoday.com/story/money/business/2013/06/08/countries-most-vacation-days/2400193/

It's incredible how far this "northern Europe workers" vs "lazy Mediterraneans" lie has gone.

Disclosure: I'm Spanish.

[hdbuck]

I wouldn't use Germany as a shining example of a worker's paradise if I were you. It's a place where they work year round to bail out Greeks and Italians who take summers off.

billiyjoeallen, I wish your facts supported your bright rethoric.

http://www.usatoday.com/story/money/business/2013/06/08/countries-most-vacation-days/2400193/

It's incredible how far this "northern Europe workers" vs "lazy Mediterraneans" lie has gone.

Disclosure: I'm Spanish.

Germany doesnt apply minimal wages. 

[niothor]

I wouldn't use Germany as a shining example of a worker's paradise if I were you. It's a place where they work year round to bail out Greeks and Italians who take summers off.

billiyjoeallen, I wish your facts supported your bright rethoric.

http://www.usatoday.com/story/money/business/2013/06/08/countries-most-vacation-days/2400193/

It's incredible how far this "northern Europe workers" vs "lazy Mediterraneans" lie has gone.

Disclosure: I'm Spanish.

From the article:
3. Germany
> GDP per capita: $30,028

4. Spain
> GDP per capita: $30,557

Doesn't quite match:
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita

[Pruden]

That does not detract from the fact that vacation days numbers are very similar all over Western Europe. Go ahead, find a source that supports billyjoeallen ignorant (but unfortunately popular) misconception.

[billyjoeallen]

I suppose this is their new exchange
https://atlasats.com/

Be skeptical to this atlasats thing. The MarketWatch "article" has the guy behind it bragging about their own network and blah blah. Meanwhile, it's hosted on Amazon EC2. Amazon EC2 is mostly used to host scams, spambots and that sort of thing. Anyone who runs a webserver will tell you that their logs are full of attack attempts from Amazon EC2, your best of putting a -j DROP on their entire IP-range.

In other news, Crayon Pop is about to release a new single: http://www.soompi.com/2014/03/12/crayon-pop-takes-off-helmet-and-dons-hanbok-for-upcoming-new-single/#.UyGHF3XZKXl

Are they for real? How can they expect to be taken seriously while hosting on EC2. Its so obvious as well their webpage takes forever to load.

look at their order book. Volume sucks. Traders need volume. That's why so many stayed with Gox even though they knew it was shitty. A new exchange is going to have to offer incentives to get high volume traders to switch. No fees for month or something like that. I won't take these guys seriously unless I see they are putting up som real money. I'm risking mine. They should risk theirs.

[dreamspark]

   I think thats important, people seem to think that new exchanges whether they are more regulated or not is some sort of fix for a range of the current issues but the fact remains that serious traders only really care about liquidity.

   If a new exchange comes along now it really needs to offer something to make people use it. I think another thing that gox teaches us is people dont generally like moving and stick to what they are comfrotable with, thus, if a platform was to open that did like you say offered no fees for a month or so once they had a collection of traders and the volumes increase then people would probably not move en mass once fees were introduced.

[ChartBuddy]

Explanation

[lebing]

I wouldn't use Germany as a shining example of a worker's paradise if I were you. It's a place where they work year round to bail out Greeks and Italians who take summers off.

billiyjoeallen, I wish your facts supported your bright rethoric.

http://www.usatoday.com/story/money/business/2013/06/08/countries-most-vacation-days/2400193/

It's incredible how far this "northern Europe workers" vs "lazy Mediterraneans" lie has gone.

Disclosure: I'm Spanish.

Why would you need to take a vacation when you have a holiday everyday in the middle of the business day?

[billyjoeallen]

I wouldn't use Germany as a shining example of a worker's paradise if I were you. It's a place where they work year round to bail out Greeks and Italians who take summers off.

billiyjoeallen, I wish your facts supported your bright rethoric.

http://www.usatoday.com/story/money/business/2013/06/08/countries-most-vacation-days/2400193/

It's incredible how far this "northern Europe workers" vs "lazy Mediterraneans" lie has gone.

Disclosure: I'm Spanish.

From the article:
3. Germany
> GDP per capita: $30,028

4. Spain
> GDP per capita: $30,557

Doesn't quite match:
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita

Hey, I didn't even mention Spain or the Mediterranean.  Don't be so quick to be offended, but now that you mention it, Spain has 26% unemployment and is in eminent danger of defaulting on its loans too.  The simple fact is that Germany can only sell it's admittedly well-made but expensive cars by extending credit to buyers who can't pay back the loans.

[bitcoinvest]

http://www.coindesk.com/singapore-regulate-bitcoin-exchanges-atms/


did you hear the train?

[hdbuck]

I wouldn't use Germany as a shining example of a worker's paradise if I were you. It's a place where they work year round to bail out Greeks and Italians who take summers off.

billiyjoeallen, I wish your facts supported your bright rethoric.

http://www.usatoday.com/story/money/business/2013/06/08/countries-most-vacation-days/2400193/

It's incredible how far this "northern Europe workers" vs "lazy Mediterraneans" lie has gone.

Disclosure: I'm Spanish.

From the article:
3. Germany
> GDP per capita: $30,028

4. Spain
> GDP per capita: $30,557

Doesn't quite match:
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita

Hey, I didn't even mention Spain or the Mediterranean.  Don't be so quick to be offended, but now that you mention it, Spain has 26% unemployment and is in eminent danger of defaulting on its loans too.  The simple fact is that Germany can only sell it's admittedly well-made but expensive cars by extending credit to buyers who can't pay back the loans.

FTFY

just a matter of covering it up within fallacious reports.

[bitcoinvest]

http://www.coindesk.com/singapore-regulate-bitcoin-exchanges-atms/


did you hear the train?

Also : Tech Millionaire Zhenya Tsventenko Brings Bitcoin to Australian Stock Exchange

http://www.coindesk.com/tech-millionaire-zhenya-tsventenko-brings-bitcoin-australian-stock-exchange/


Good news from all over the world.... i like it

[byronbb]

Can't recall last time when sell-side order book was out-dwarfed by the buy-side....

[koryu]

I wouldn't use Germany as a shining example of a worker's paradise if I were you. It's a place where they work year round to bail out Greeks and Italians who take summers off.

billiyjoeallen, I wish your facts supported your bright rethoric.

http://www.usatoday.com/story/money/business/2013/06/08/countries-most-vacation-days/2400193/

It's incredible how far this "northern Europe workers" vs "lazy Mediterraneans" lie has gone.

Disclosure: I'm Spanish.

Germany doesnt apply minimal wages. 

here in germany we are just introducing a minimum wage of 8.50 euro. its not much and a lot of people here work for less.
with good education its a very good place to work but without its terrible except if you just want free money from the welfare systems.

but we do not only sell cars. take a look at the dax companies, they are all global players.

must be said

[JorgeStolfi]

I googled for 'Neo & Bee March' and got this:

  Bayer kills bees: neo-nicotinoid pesticides proven toxic to bees
  http://bayer-kills-bees.com/

Is this bullish or bearish? 

[raid_n]

So here is a stupid question to kill time: Suppose the Evil Lords decide to use the bitcoins seized from Silk Road and other places to kill bitcoin by spamming it with billions of tiny transactions, as fast as they can.  How would the network defend itself from that attack?

I am guessing, but I thought that the network just processes transactions in the order received, and if there is a fee attached, then those transactions are processed first.  

Billions is a lot... and I suppose that the problem could be made worse by creating some repetition of the transactions - after the first ones are processed, they are put back into the cue.

 If there are so many transactions that the network is overwhelmed... the network may go down for a period of time. and then maybe a fork in the code to restart?  YES>... I am continuing to guess.

You know you have an anti-fragile system when the worst thing your enemies can do is throw money at you.

Like, dumping ten tons of pennies over you.

For concreteness, suppose they have 100,000 BTC previously spread out over that many addresses, and start sending out 10-satoshi transactions between those addresses with 1 satoshi of fee.  They can send 10^13 (10 trillion) such transactions before they run out of coins.  Would the network handle that?

Are you being serious here Jorge or is that trolling? You have a Ph.D. in the field of computer science yet fail to come up with your own answer.

Using a priority queue you can sort transactions and the nodes will simply drop the oldest transactions with the least fees if the queue overruns.
There already exist rules for how transactions are ordered and small value transactions require more of a fee to be higher in the queue.
Ultimately you will either quickly burn up your bitcoins in such an attack or your transactions will be dropped and ignored without affecting the others

[edit] the only effect you can cause is that zero/low fee transactions for tiny btc amounts coming from other parties will also be pushed off the queue

[edit2] here is a link to the unconfirmed tx queue from blockchain.info https://blockchain.info/unconfirmed-transactions
basically miners can include transactions (they are not forced to) and they will take the ones from the head of the queue that can fit into the block mined