[Aug 2022] Mempool empty! Use this opportunity to Consolidate your small inputs! - page 25.

LoyceV

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Quote from: Synchronice on November 10, 2023, 08:29:32 AM

the sender sent $6205 worth Bitcoins and paid $1906 worth Bitcoins in fees. 1/3 of transaction was paid in fees

The sender didn't even sent $6k in Bitcoin, he created 100 dust inputs and the rest was change. It's just Ordinal spam, and considering someone paid $1900 for it, that can only mean they expect someone else to pay much more.

Quote

this is ridiculous.

Agreed.

Synchronice

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This is getting ridiculous, yesterday, fees were 250 sat/vByte. Bitcoin's price is increasing and people are willing to pay more as price goes up. But here is the thing:
Look at this transaction: https://mempool.space/tx/416f3ebd1dab2ad43f481fbd9108573fa940818ad5dc77f9b552195e7a8ddb3b
I don't know if it looks like someone is testing a mixer but look, sender sent transaction with 110 sat/vByte and two hours later increased fee up to 1,188 sat/vByte while it was absolutely enough to pay 250 sat/vByte to get it included in the next block. At the same time, the sender sent $6205 worth Bitcoins and paid $1906 worth Bitcoins in fees. 1/3 of transaction was paid in fees, this is ridiculous.

Cricktor

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Isn't Testnet specifically there to test any stuff you need to test? It's free and coins have no value on Testnet. Perfect to do any testing. Why would anyone be so crazy to test and debug a mixer or whatever on Mainnet with costly transaction at current fee rates. That doesn't make any sense to me.

Synchronice

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Quote from: LoyceV on November 04, 2023, 07:53:20 AM

Quote from: Synchronice on November 04, 2023, 06:04:52 AM

Just look at this transaction: https://mempool.space/tx/e1714025ae74dbd118cf7309657bef61d26f24b46a183ab2a0080d8a91dacf64

It could be anything, from funding hundreds of collectible coins to a bug in an automated system. This transaction paid $700 in fees, while just 2 days ago $12 would have been enough.

Bugs? Still? I don't think there are bugs, especially when this is not a new thing and as far as I understand, this problem exists since 2017. But I can be wrong, who knows. Usually bugs that drain your wallet, and especially as simple bug as bitcoin transaction fee is, is hard for me to imagine unfixed.

Quote from: LoyceV on November 04, 2023, 07:53:20 AM

Being your own bank means you can make your own mistakes.

That's why centralized exchanges don't lose popularity despite the FTX case and many other cases where customers money was stolen.

Quote from: stompix on November 04, 2023, 03:19:36 PM

I think you wanted to say artificially, not manually!

That's correct!

Quote from: stompix on November 04, 2023, 03:19:36 PM

Rather than a planned attack, I would put my money on some badly configured bots, probably somebody testing a mixer and ending up with really bad results, shit like this over here:
https://mempool.space/address/bc1qa384fp33tyhv2g38g8g7w72c5knd2lhe8m00tl
instead of breaking the sums to multiple addresses, it kept sending to the same one then again and again, now it seems like they fixed it and it starts breaking inputs properly.
Besides there aren't even that many of them, the peak was at 230k, down to 170k, and compared to 600k in September it's nothing!

Probably, you are right but isn't it better to test mixer when transaction fees are low instead of testing it when fees are very high? I don't know what to think.

stompix

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Quote from: Synchronice on November 04, 2023, 06:04:52 AM

Isn't this an attempt to manually increase transaction fees?

I think you wanted to say artificially, not manually!
Makes little sense, the block fees for the last block were ‎0.3 BTC, I can see some in the 0.6 but nothing more, one week ago we had 0.1 -02, if half of that is made out of your own transactions you're simply wasting money, plus nobody wanting to spam the mempool would have done it in the weekend.

Rather than a planned attack, I would put my money on some badly configured bots, probably somebody testing a mixer and ending up with really bad results, shit like this over here:
https://mempool.space/address/bc1qa384fp33tyhv2g38g8g7w72c5knd2lhe8m00tl
instead of breaking the sums to multiple addresses, it kept sending to the same one then again and again, now it seems like they fixed it and it starts breaking inputs properly.
Besides there aren't even that many of them, the peak was at 230k, down to 170k, and compared to 600k in September it's nothing!

LoyceV

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Quote from: Synchronice on November 04, 2023, 06:04:52 AM

Just look at this transaction: https://mempool.space/tx/e1714025ae74dbd118cf7309657bef61d26f24b46a183ab2a0080d8a91dacf64

It could be anything, from funding hundreds of collectible coins to a bug in an automated system. This transaction paid $700 in fees, while just 2 days ago $12 would have been enough.
Being your own bank means you can make your own mistakes.

Synchronice

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Quote from: ?? on ??

I am really curious to know what happens and what caused this massive increase. At the same time I am not very experienced to try and make a judgement. Share your thoughts when you have something more accurate.

I don't know and wonder what's happening too, there are no articles published that explain this massive increase of transaction fees. Today, I wanted to make a bitcoin transaction and when I checked mempool.space, recommended fee was 30 sat/vByte. I thought, let's wait a little and fee may decrease but in a few hours, probably in two hours, fee went from 30 sat/vByte to 70 sat/vByte.

Just look at this transaction: https://mempool.space/tx/e1714025ae74dbd118cf7309657bef61d26f24b46a183ab2a0080d8a91dacf64
This person or company, whoever/whatever it is, made a transaction with 43 sat/vByte and then increased it up to 143 sat/vByteand paid 3x times more than it was necessary to get it included in the next block.

It's also curious for me that 328 outputs are receiving 0.00020000BTC, each of them with enabled RBF where fee was increased 4 times and actually this transaction paid 3 times more than it was necessary. What kind of transaction is this? Why are people or companies panicking and paying absurd fees?

LoyceV

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Quote from: Don Pedro Dinero on November 03, 2023, 10:53:28 AM

Is there some spamming going on again on the mempool?

It's hard to tell without looking at the actual transactions (which I'm not going to do now). Johoe's site shows a steady increase in fees since yesterday, up to 30+ sat/vbyte now. It looks like this weekend isn't the right time to consolidate.

Don Pedro Dinero

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Is there some spamming going on again on the mempool? According to mempool.observer:

Now that we seemed to have got rid of the ordinals, it seems that it was only a small respite.

albert0bsd

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Quote from: F2b on October 26, 2023, 12:19:23 PM

Still a mystery to me why the flow of unconfirmed transactions went above 15-20000 vB/s, especially considering that this didn't happen in May when we had extremely high fees.

There are some three or more factors for it:

- Transactions increment during light hours in USA
- Transactions increment during Weekdays
- A lot of euphory for the bitcoin at 33-34 thousand $ USD
- Some business/developers misunderstand how bitcoin fees works

F2b

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Quote from: stompix on October 26, 2023, 08:12:14 AM

Quote from: F2b on October 25, 2023, 05:02:45 AM

I guess it has to do with the amount of transactions received by mempool.space's nodes, but why was it so high? Is it just that nodes were rebroadcasting purged transactions? It doesn't seem very reasonable to me, but I can't find another reason. Any insights?

Consolidation, ordinal minting, it happens all the time, normally you can just go to the next blocks in the queue at mempool.space and see what they are made of it.
In 99% there will be some large blocks linked together and pointing to the same address
This one was from the last spike back in mid-October:
https://mempool.space/address/bc1qthdpgxj73uxumw887ra78pxqj5qy7pt9gf5su5

And nodes rebroadcasting purged sanctions would not make sense since purged ones are low fee, in your graph all the new ones are higher than average fees, with the base in 1-5 sat range basically unchanged!

I either didn't get your answer right, or we are not talking about the same thing. But that's my fault, it was a bit off-topic, as it's not exactly related to the mempool, sorry about that. Thank you for the time you took to reply.

Quote from: LoyceV on October 25, 2023, 05:47:12 AM

That sounds plausible. Fees were going up, transactions were dropping, and I assume every RBF counts as a new transaction. But still, that would mean each transaction got several fee bumps.

Yes, that's the only explanation I can think of, but numbers don't really match...

Still a mystery to me why the flow of unconfirmed transactions went above 15-20000 vB/s, especially considering that this didn't happen in May when we had extremely high fees.
I'll stop the off-topic here. Thank you to those who replied.

philipma1957

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Quote from: stompix on October 26, 2023, 08:12:14 AM

Quote from: F2b on October 25, 2023, 05:02:45 AM

I guess it has to do with the amount of transactions received by mempool.space's nodes, but why was it so high? Is it just that nodes were rebroadcasting purged transactions? It doesn't seem very reasonable to me, but I can't find another reason. Any insights?

Consolidation, ordinal minting, it happens all the time, normally you can just go to the next blocks in the queue at mempool.space and see what they are made of it.
In 99% there will be some large blocks linked together and pointing to the same address
This one was from the last spike back in mid-October:
https://mempool.space/address/bc1qthdpgxj73uxumw887ra78pxqj5qy7pt9gf5su5

And nodes rebroadcasting purged sanctions would not make sense since purged ones are low fee, in your graph all the new ones are higher than average fees, with the base in 1-5 sat range basically unchanged!

Quote from: LoyceV on October 26, 2023, 12:52:33 AM

After several days of fees around 20+ sat/vbyte, at the moment 2.1 sat/vbyte is likely to get you a quick confirmation. I guess it was Bitcoin's quick price increase that lead to an increase in transaction numbers.

I would blame it more on the luck in block-finding
135 blocks in the 24h interval 3 days ago, 159 a day earlier, that alone is a ~24vM variation.

yes on days that we mine 160 blocks we empty mempool. On days we do 130 blocks mempool fills.

This is all luck-variance. As 130-160 is not huge variance and happens often.

stompix

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Quote from: F2b on October 25, 2023, 05:02:45 AM

I guess it has to do with the amount of transactions received by mempool.space's nodes, but why was it so high? Is it just that nodes were rebroadcasting purged transactions? It doesn't seem very reasonable to me, but I can't find another reason. Any insights?

Consolidation, ordinal minting, it happens all the time, normally you can just go to the next blocks in the queue at mempool.space and see what they are made of it.
In 99% there will be some large blocks linked together and pointing to the same address
This one was from the last spike back in mid-October:
https://mempool.space/address/bc1qthdpgxj73uxumw887ra78pxqj5qy7pt9gf5su5

And nodes rebroadcasting purged sanctions would not make sense since purged ones are low fee, in your graph all the new ones are higher than average fees, with the base in 1-5 sat range basically unchanged!

Quote from: LoyceV on October 26, 2023, 12:52:33 AM

After several days of fees around 20+ sat/vbyte, at the moment 2.1 sat/vbyte is likely to get you a quick confirmation. I guess it was Bitcoin's quick price increase that lead to an increase in transaction numbers.

I would blame it more on the luck in block-finding
135 blocks in the 24h interval 3 days ago, 159 a day earlier, that alone is a ~24vM variation.

LoyceV

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Quote from: apogio on October 26, 2023, 03:19:15 AM

I am not sure how to read the graph though.

Take a look at this screenshot from Johoe's Bitcoin Mempool Site:
Image loading...

Note my mouse pointer: it's location is around the time I bumped this topic. Now read the bottom of the popup:
4+: 0.382 vMB
3+: 0.579 vMB
2+: 2.472 vMB
1+: 108.471 vMB

It's obvious 1 sat/vbyte won't be enough for a very long time. But with 3 sat/vbyte, your transaction would have been confirmed in the first block if it was found at this point. If a new block takes longer, fees will quickly rise and 3 sat/vbyte isn't enough. But even if I'd make a transaction that shouldn't take too long, I'd probably risk it with 3.1 sat/vbyte at this point.
The "2+" part is a bit tricky: you can't know if it's 2.0, or 2.8. So if you want to be on top of that, go with 3.1. If you can wait for the entire 2+ section to clear: use 2.1.

apogio

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Quote from: LoyceV on October 26, 2023, 03:15:10 AM

Bitcoin Core's estimate is much higher than needed for the purpose of this topic. Look at this graph, hover your mouse on the right, and see what fees were not high enough to be included in the past few hours.

Thank you. I am not sure how to read the graph though. Is there a topic in this forum I could look into? I will search myself, but if you know one, please provide it to me.

LoyceV

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Quote from: apogio on October 26, 2023, 02:43:58 AM

Are you sure about these fees? I wanted to consolidate some UTXOs but my node estimates a quick confirmation for 15+ sat/vb

Bitcoin Core's estimate is much higher than needed for the purpose of this topic. Look at this graph, hover your mouse on the right, and see what fees were not high enough to be included in the past few hours.

apogio

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Quote from: LoyceV on October 26, 2023, 12:52:33 AM

After several days of fees around 20+ sat/vbyte, at the moment 2.1 sat/vbyte is likely to get you a quick confirmation. I guess it was Bitcoin's quick price increase that lead to an increase in transaction numbers.

Are you sure about these fees? I wanted to consolidate some UTXOs but my node estimates a quick confirmation for 15+ sat/vb

LoyceV

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After several days of fees around 20+ sat/vbyte, at the moment 2.1 sat/vbyte is likely to get you a quick confirmation. I guess it was Bitcoin's quick price increase that lead to an increase in transaction numbers.

LoyceV

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Quote from: F2b on October 25, 2023, 05:02:45 AM

I guess it has to do with the amount of transactions received by mempool.space's nodes, but why was it so high? Is it just that nodes were rebroadcasting purged transactions?

That sounds plausible. Fees were going up, transactions were dropping, and I assume every RBF counts as a new transaction. But still, that would mean each transaction got several fee bumps.

F2b

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Sorry if it's a bit off-topic, but like many of us I've been looking at mempool.space quite a lot recently. And I don't really get the second graph, "Transaction vBytes per second (vB/s)":

I guess it has to do with the amount of transactions received by mempool.space's nodes, but why was it so high? Is it just that nodes were rebroadcasting purged transactions? It doesn't seem very reasonable to me, but I can't find another reason. Any insights?

Topic: [Aug 2022] Mempool empty! Use this opportunity to Consolidate your small inputs! - page 25. (Read 88535 times)