+95,000 Unconfirmed Transactions - page 2.

DooMAD

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Quote from: Turkish88 on December 15, 2017, 01:57:04 AM

i have one idea for mempool modification.
Developers must change transaction system in this way, where it operate by turns, and not by the desire of miners

I'm not quite following what you mean by "turns". Are you suggesting that transactions should be processed on a first come/first served basis? So that they get confirmed in the order they are picked up by the network? If so, that would eliminate any kind of incentive for people to include a tx fee with their transactions, as they would be guaranteed to be processed in a timely fashion regardless. Which means that as the block reward starts to reduce over time with each halving, there would be less revenue for miners. That could cause severe damage to Bitcoin's longevity and sustainability.

If that's not what you meant, you might need to elaborate on your idea a bit.

Turkish88

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i have one idea for mempool modification.
Developers must change transaction system in this way, where it operate by turns, and not by the desire of miners

ddurand

newbie

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That's why litecoin and lightning network wee created, to reduce transaction congestion.But until lightning network will be available, the number of unconfirmed transaction will increase as much transaction occurs.

DooMAD

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Quote from: Yakamoto on December 06, 2017, 04:53:43 PM

Maybe bigger blocks, even by 50%, weren't a bad idea if they were implemented correctly. The bad news is that the number of unconfirmed transactions just keeps going up amidst the efforts of the miners.

High fees for everyone while they chip away at the queue then.

I'm still not convinced by any ideas involving one-time flat increases to the blockweight when it would only lead to more hardforks in future when the need arises yet again. This is why people always throw the "kicking the can down the road" argument at the majority of discussions about blocksize. If we have to touch the base blockweight at all, at least do it this way so it doesn't result in constant forks and would naturally adapt to whatever traffic the network is facing at any given time.

Yakamoto

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Quote from: Ma907xB on December 06, 2017, 04:28:01 PM

Looks like we're getting close to the amount of unconfirmed transactions that were in the market when BCH went up to $ 2,500. Difficulty Rating also shot up today. What does it all mean?

Lots of miners are turning on and the difficulty is going to probably make the problems worse, since we aren't processing more than maybe a few thousand transactions every block and we're backed up more than a few day's worth of confirm-able transactions. They really need to get the blockchain humming along again because this is going to be an issue should the blockchain be backed up this much for this long.

Maybe bigger blocks, even by 50%, weren't a bad idea if they were implemented correctly. The bad news is that the number of unconfirmed transactions just keeps going up amidst the efforts of the miners.

High fees for everyone while they chip away at the queue then.

Ma907xB

newbie

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Quote from: DooMAD on December 06, 2017, 04:45:23 PM

Quote from: Ma907xB on December 06, 2017, 04:28:01 PM

Looks like we're getting close to the amount of unconfirmed transactions that were in the market when BCH went up to $ 2,500. Difficulty Rating also shot up today. What does it all mean?

Higher prices generally mean greater mining profitably, so if the difficulty has just shot up, it could mean some miners are taking profit at these new all time highs, but then investing that profit back into some new ASIC hardware. It would make sense from a business perspective to take advantage of such rapid gains to expand the farm. Expect difficulty to go even higher once a new hardware manufacturer launches their miner to combat the dominance of Bitmain.

Those Halong Dragonmint miners are unproven. 5 minimum order with an April delivery. Risky order.

DooMAD

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Leave no FUD unchallenged

Quote from: Ma907xB on December 06, 2017, 04:28:01 PM

Looks like we're getting close to the amount of unconfirmed transactions that were in the market when BCH went up to $ 2,500. Difficulty Rating also shot up today. What does it all mean?

Higher prices generally mean greater mining profitably, so if the difficulty has just shot up, it could mean some miners are taking profit at these new all time highs, but then investing that profit back into some new ASIC hardware. It would make sense from a business perspective to take advantage of such rapid gains to expand the farm. Expect difficulty to go even higher once a new hardware manufacturer launches their miner to combat the dominance of Bitmain.

Ma907xB

newbie

Activity: 51

Merit: 0

Looks like we're getting close to the amount of unconfirmed transactions that were in the market when BCH went up to $ 2,500. Difficulty Rating also shot up today. What does it all mean?

Topic: +95,000 Unconfirmed Transactions - page 2. (Read 463 times)