Topic: 173000 unconfirmed transactions, 13 transactions per second - page 2. (Read 4306 times)

Mempool size is specific to each node, it is not a central pool of transactions and every node has their own. Transactions do not expire, they simply get excluded out of the node's mempool and that is specific to each node. If your transaction is not mined within 14 days, it could very well be still in the miner's mempool and they can still mine it. If not, anyone can simply rebroadcast the transaction.

It wasn’t attack. Please see https://fork.lol/

Because of BCH’s stupid algorithm, difficulty of BCH minig made wild swings.

Difficulty happened to get easier at the same time as BCH’s price rose 100%. This caused BCH mining to be considerably more profitable  than BTC mining. Because the algorithm is the same, it was easy for miners  to switch to mining BCH. Of course miners mine the more profitable coin, if switch is easy, as it was in this case. At one time approximately 2/3 of hash power was in BCH network and this causet the glut.

You can see from here the switch of mining power

https://fork.lol/pow/hashrate

My OP was wrong in that, that there was not that many incoming transactions as I thought, blochain info about incoming transactions per second was apparently not right.

Now that BTC mining is more profitable than BCH mining, miners have come back and the backlog is processed. Good thing is, that few days ago BCH fixed their algorithm to more stable.

Its things like this that people need toe valuate when discussing bitcoin being adopted by the masses. We can't really justify bitocin rising at least in the short term when some of the most simple use cases can;t be achieved because of how long it takes to process transactions. Until this kind of problem is resolved, we are going to see a continue in dramatic volatility and constant uncertainty towards new money coming in.

Speak of newbies and they will appear.

This has probably been one of the most interesting, short discussions I have read here, but I have questions.  Please, if I get my nomenclature wrong, educate me, thanks!

I read thru the manifesto linked in here https://theflippening.github.io/open-letter-to-bitcoin-miners-from-another-miner/, manifesto / call to action, whatever you wanna call it, and just from a critical reading standpoint it sounded to me like it was written by a single entity, but stream of consciousness, then edited for the references.  They missed fogging over they were getting tired as the open letter went on, imo.

I have no idea of a lot of the "names" that run around, so even if you told me I might not know who it was.  It was interesting but written up as propaganda.  I noticed the last bit of time (week ago?) that pump of bch, so I am going to assume that someone took it seriously, and it is suspected that it was just a manipulator with some cash?

Another question, and I have just been watching blockchaininfo while studying this, seems the whole utx backlog gets much smaller very quickly when a large btc (saw one of 375 btc a little bit ago), and uncofirmed transactions went down noticeably.  For my basic understanding, isn't that the way the system is supposed to work, the smaller unconfirmed get sucked up into the bigger confirmed and the volume decreases?

Got it: https://jochen-hoenicke.de/queue/#2w
looks like massive attack this month? hope that main peak left in the past..

Yeah only 35k unconfirmed transactions mean the fee transaction will be low at this moment.

35000 unconfirmed transactions at the moment - it's getting better!
btw, anybody knows if a historical chart over this number exists?

this isn't a conclusion that logically follows.

a system designed for a max of 7 transactions per second, suddenly in the public eye, everyone wants in and wants a part of the action.

look at the massive influx of newbies to this forum. they are also placing transactions.

Well as a user of bitcoin we just need to be patient also so that the program will not be pressured and it will works well. imagine in the future if all people using bitcoin it will be a lot more of unconfirmed transaction and also program is controlled by human too. So lets be patient and always remember this PATIENT IS A VIRTUE.

Which is exactly what they want to happen.

I was under the impression that SegWit was supposed to make spamming the network a lot more expensive or are most of the spamming being done on legacy addresses?

I just hope that we will see a repeat of the previous attack, where the difficulty increased on the forked coin and the miners switched back to BTC mining. The backlog was cleared within a few hours last time.

The problem is, this time some of these miners are dead set on dethroning BTC and pushing for BCH to replace it, so they might take a loss in profitability to achieve that goal.  

Thumbs up to the miners that kept on mining BTC. ^smile^

Maybe but it's not guaranteed. A node with longer timeout (or no timeout) can still keep your transaction and forward it to miners. There is nothing in the Bitcoin protocol related to timeout so a transaction after 14 day may or may not disappear from the mempools.

Not necessarily. Mempools don't have unlimited capacity and also there is transaction expired by timeout (by default 14 days after entering).

So in practice, if your transaction is not processed in 14 days, it will never be processed.

its a basic queueing system
so all transactions will be processed with time

X = # of queued transaction


A = 0 first queue position
Z = a number # last in queue

N = New transaction

ttp N = (Z-A)/(tpps)  // ttp = time to process , tpps = transactions processed per seconds

however the ttp N will keep rising

I'm not the owner of that site. It's just useful and probably the best one to analyze the mempool.

I don't have any other good site.  https://tradeblock.com/bitcoin/ used to work but it is not completely reliable.

Transaction per second is not a good measure of mempool status because transactions differ in size a lot. It's probably best to take a snapshot of the size of the  mempool at time t, compare to t+dt and add the size of blocks mined at that time.

Thanks for your site. Do you know where to see incoming uncorfimed btc transactions/second reliably?

People, please stop quoting blockchain.info. This site is broken. The transaction rate is smaller than the clearing rate, hence it cannot be 13 tps. I monitor it on my node and blockchain is completely bogus. See, https://jochen-hoenicke.de/queue/#24h for the correct data.

There is no "attack". Please stop spreading misinformation.

There are still at least 13 transactions per second being requested.  I'm assuming this is an attack on the network, inflating fees for legitimate users in order to make BCH look more attractive.  Is there any way this can be mitigated?  Whoever is doing it doesn't have any disincentive to make them stop, they can just be sending coins to themselves with tiny or no fees, and most of the trns will time out (if that's the correct term).

If you reload this page the tps changes on each reload, anyone have a page with a dynamic count of transactions per second?

13 to 30, depending on reloads:

https://blockchain.info/unconfirmed-transactions

vs around 3 tps actually being processed

https://blockchain.info/charts/transactions-per-second

Sorry if I've gotten the details wrong here, please correct me if so.

People may overstate the situation as 120k

Number of unconfirmed transactions is under 120 000 now and it quickly descends.It will take some time for the situation to come to normal but it is much better than it was the in last days.Unfortunately there is a problem to be solved that such situations do not happen,people are pretty disappointed when their transaction remains unconfirmed for days.

I'm sure that all transactions will be confirmed soon,with more miners come back to mine BTC this problem will disappear at least for some time.

https://blockchain.info/unconfirmed-transactions