Topic: [Aug 2022] Mempool empty! Use this opportunity to Consolidate your small inputs! - page 13. (Read 88497 times)

If your node excluded an UTXO, and a miner includes it anyway, your node will reject the valid block.

I was told that Bitcoin Core at least culls provably unspendable UTXOs from its UTXO set in order to save memory.

*Maybe* it might also be possible for a node operator to manually specify the kind of UTXOs that it wants excluded from the UTXO set. I'm not sure how that would be done if it is even possible. Compact block filters maybe?

Cats and dogs pee here and there to mark their territory. Runies and Ordies leave their shit marks, like dogs, it seems at such "famous" burn addresses or particularly with countless UTXOs on the Genesis block or those attributed to Satoshi Nakamoto.

I have a watch-only wallet with about 21954 combo-descriptors based on public keys of P2PK coinbases which are attributed to blocks supposedly mined by Satoshi Nakamoto (the "Patoshi" blocks that bitcoinexplorer.org shows and Block 0 and 9 which we definitely know belonging to Satoshi). Since the halving and "inception" of Runes, subsequent minting like crazy I observe a ton of dust (and maybe more) sent in majority to the Genesis block. It's like crazy.

Yes, dust and more has long been thrown at the Genesis block (not too long ago even 4BTC, iirc, but such big "donations" are very rare, especially at current five figures rates), but what is going on in past little more than two weeks is on another level of insanity.

And the shitheads don't care a f*** bloating the UTXO set. It's unlikely Satoshi will come to rescue and consolidate all the coins thrown at the Genesis block and others. Sadly, it's pure madness.

From start of April 2024 until block 839999 there were 585 confirmed transactions to my watch-only wallet (within 19 days); from block 840000 until 842493 there were 3312 confirmed transactions (within roughly 18 days).

How would you explain the fact that the transaction that already has high sat/vByte fee uses a RBF feature and significantly increases transaction fee during the short timeframe? There are many things that don't make sense in ordinals world.

By the way, can someone explain why runes and ordinals creators include 1111111111111111111114oLvT2 this address in their transaction outputs? This address is definitely a burn address but I don't understand why someone creates ordinals and one of their output (among others) is this address. For example, check this: https://ordiscan.com/tx/0810d5a3c334740ee211421ad00ac081815a5b64e17fa68c7891df20d174c305

Spambots don't take days off.

Maybe they spent their Easter trying to mint a ton of Runes in the hopes to make a lot of money for the party

Only explanation I find plausible is that those new runes can be minted by users, just download a wallet that supports it ( seems like xverse is one) and you can do the mining of an already launched and minable rune but the wallet is giving you an estimator for that, so might now be a surprise that some user decided to mine some and the estimator got it wrong, then the next guy would see the same misleading estimate and you have the rat race going on.


I  seriously don't understand some exchanges, they pay like 5 times for a consolidation that is just pennies while at the same time they have some transactions in the pool sitting there for almost 3 months at 5 sat/vb with each of those being 10 times in size speaking of the funds they get from it, so....god knows why!

There might be some legit cases when a whale deiced to cash out of a gambling site or so and there aren't enough funds in cold storage and you need to grab all inputs from small deposits to not risk pissing off a VIP but I think those cases are one in a hundred thousand.

Anyhow, a bit disappointed about this weekend, we had Labour Day, Eastern Easter a prolonged weekend, and still high fees, I would have anticipated 12-13 sat/vb not that it's consolidation time even with those.

Yes, I saved an image of that moment. To be honest, I check mempool.space like a hyper-obsessed guy.
Here is the image:


Recommended transaction fee is 28 sat/vByte to get transaction confirmed in the next block and as we see on the image, almost everyone follows that pattern but then quickly within minutes, some people started creating transactions with 400-500 sat/vByte fees. I am not 100% sure but I believe that I somewhere heard that people were complaining Ethereum for its gas fees for minting NFTs and for that reason people were looking for alternatives. Now I don't get why ordinals creators are willing to spend unnecessary expenses on transaction fees, I don't really understand it. If they are people who make millions of dollars by scamming others, why the hell would they use misconfigured bots? I mean, it shouldn't be hard to make bot follow mempool.space's fees. I find it hard to understand, why do some people pay unnecessary transaction fees when what they do is for the sake of earning money.
By the way, it's really funny how many people try consolidate inputs when fees are ridiculously high. I don't know whether laugh or cry.

Just like last time, it went from about 20 to 400 sats/vbyte instantly.

Mempool Gogggles are as expected: it's caused by the data spammers selling a scam to gullible people.

Update: fees are back to 25 sats/vbyte again. It was high for about 4 hours. Still, more than 50% of the blocks is filled with data spam, but at least it's not 90% anymore.

Since 4 hours ago, mempools started to be clogged again.

500+ sat/vbyte to have a quick confirmation from Bitcoin miners.

https://jochen-hoenicke.de/queue/#BTC%20(default%20mempool),24h,weight

Is it from Ordinals or Runes this time?

Using hard coding or existing (non AI) fee recommendation algorithm is far easier and cheaper than using AI though. And i'm not sure how we can use AI to show fee recommendation? Should we use whole mempool as input of the AI?

I don't believe someone is just burning his money on fees. It must be someone who sells useless made-up tokens to gullible people with FOMO. Even here on Bitcointalk I now see people who are getting curious.

Who could it be? A BCH/BSV fanatic?

Is he a BTC whale?

I thought he only had ETH.

In the age of AI, this is totally unacceptable. Bots can and should be smarter than that...

I vote for Vitalik Buterin.
Some kind of revenge for all the suffering the Ethereum network went through with NFTmania. He certainly has the money for this kind of venture  

Or just some geniuses started uploading resources for their gaming platform.

It's not about fees but since this thread turned into Ordinals discussion, I'll ask here:
1. Does anyone know what are the most popular Bitcoin Ordinals marketplace websites? Or where can I see how many Ordinals are traded daily? I know that I can check mempool and see transactions but I want to know besides creating new ordinals, how many of them are traded (bough and sold).

I had the same question. There is a possibility that it's a bot with bad configuration. I have seen way worse fees than what you shared. Mempool is full of transactions that had recommended fee and then fee was increased up to 100 times with multiple RBFs. That doesn't make sense to me. Imagine, recommended fee is 100 sat/vByte, then someone uses RBF and increases it up to 200 sat/vByte, then up to 1000 sat/vByte, then up to 5000 sat/vByte and so on, within minutes.

Current blocks: about 90% spam:


This graph (also from mempool.space) shows the inflow of new transactions (in vbyte/second):

This strengthens my theory that it's one person behind it. If different people would be doing this many transactions, I'd expect a more even inflow without high peaks.

Nobody said Bitcoin is going to fix IQ issues!

I wouldn’t call that “flawless” since being able to make cheap transactions was one of bitcoin’s core features for years and now it is not here anymore.

Do bitcoin execute the code flawlessly? Yes it does. But eth did execute its code flawlessly too and then vitalik didn’t like it so it was forked.

What I am trying to tell you is that executing the code flawlessly doesn’t mean it is working perfectly or more importantly, properly. They are not the same concepts.

Don't be like this guy: he paid 0.15351 BTC to send 0.06574732 BTC. Be smart with Coin Control!

And if the fees are high there will be no more usage since nobody will be interested in adjusting or adapting to a costly payment solution, again the usual dilemma, we don't scale because it would be costly for nodes, if we don't scale is bad for traffic, and probably another decade will pass and the same discussion will be with every major hype of something building on the chain.


Yeah, banks have adapted everywhere, the myth of banking transactions being expensive as hell is so 1999.
The only advantage I don't see any other payment type beating Bitcoin on is international payments completely outside trading zones like the EEU for example, but it won't be long till even that is beaten, I can already pay via a card a WU pick in minutes transfer that with pretty cheap fees, so the clock is ticking for it too.

We might have to consider Bitcoin will mainly an investment or a hedge against inflation and that's it!


Bitcoins still works flawlessly, as I said attack or whatever you call this the protocol is not affected, transactions happen, confirmation happens, blocks are getting mined, Bitcoin can't be brought down by this thing and it will never be! The moment trust starts to go away so will the transactions, so will high fees, and everything will be back as it was and trust will be back again!


No wonder we're most likely going to have a positive difficulty adjustment. Fees...Yummmyyyy!