Your link doesn't show them anymore. Did they create 1000 dust outputs, or were they sending real amounts?
I believe they were very small amounts, not dust but also too small that made me wonder who makes such payments (5 to 10 cents). I think they ended up double spending the inputs of those transactions because I also can not find anything in previous blocks with such characteristics. 
Topic: [Aug 2022] Mempool empty! Use this opportunity to Consolidate your small inputs! - page 42. (Read 88546 times)
June 20, 2021, 05:00:26 AM
June 20, 2021, 02:29:27 AM
Alternatively, it could be possible that these mining pools are sending transactions to themselves in order to artificially increase transaction fees.
I've read that theory before. At some point there was even a mining pool (Antpool?) that didn't include transactions with a fee lower than 5 (?) sat/byte.That happened in 2018 when the mempool finally cleared out after many months of very high fees. It was definitely 5 sats but I can't remember for sure which pool(s). After a few weeks they realised they were losing out to other pools that were including them and stopped doing it.
June 20, 2021, 02:18:13 AM
Someone(s) is (are) "consolidating" the hell out of their wallet today. The mempool is filled with 15 to 30 KB transactions most of which have either 100 or 200 inputs but some are paying nearly 1000 recipients!
Can be seen here until they are confirmed: https://blockchair.com/bitcoin/mempool/transactions?s=size(desc)
Your link doesn't show them anymore. Did they create 1000 dust outputs, or were they sending real amounts?Can be seen here until they are confirmed: https://blockchair.com/bitcoin/mempool/transactions?s=size(desc)
P.S. blockchair's new change is horrible, it makes searching very hard since the table keeps getting messed up.
It's terrible: they've replaced useful information by colored bouncing dots. Now it looks like they hired a 4 year old girl to "improve" the site.Alternatively, it could be possible that these mining pools are sending transactions to themselves in order to artificially increase transaction fees.
I've read that theory before. At some point there was even a mining pool (Antpool?) that didn't include transactions with a fee lower than 5 (?) sat/byte. June 19, 2021, 11:46:28 PM
https://btc.com/d3cccd9d47798f9e26f9a95d4ebc2da651d66e606154284afaed013bbaad4850
That's 100 inputs all of a similar size and there are lots of transactions all doing the same indicating it's a service using an automated consolidation of their deposits.
I might conclude that this person has multiple ASICs that receive their mining payouts to different addresses. If this is correct, it would be insane. Alternatively, it could be possible that these mining pools are sending transactions to themselves in order to artificially increase transaction fees.
If they are paying 1000 recipients, they are not consolidating inputs, they are splitting inputs.
That's my bad, I should have been more clear. Majority of those transaction are consolidating and there are other transactions paying nearly 1000 recipients. Some of them seem to have confirmed or disappeared. You can still find a couple like this one: https://blockchair.com/bitcoin/transaction/5208ecff5b3fe7c1e7c852a6b8e2c323832d3e40221f28692b43bbe39b6116c1 (520 outputs).Quote
They could also be advertising spam, such as 5208ecff5b3fe7c1e7c852a6b8e2c323832d3e40221f28692b43bbe39b6116c1 that is clearing trying to advertise their altcoin.
Interesting find. June 19, 2021, 11:14:16 PM
If they are paying 1000 recipients, they are not consolidating inputs, they are splitting inputs.
That's my bad, I should have been more clear. Majority of those transaction are consolidating and there are other transactions paying nearly 1000 recipients. Some of them seem to have confirmed or disappeared. You can still find a couple like this one: https://blockchair.com/bitcoin/transaction/5208ecff5b3fe7c1e7c852a6b8e2c323832d3e40221f28692b43bbe39b6116c1 (520 outputs).Quote
They could also be advertising spam, such as 5208ecff5b3fe7c1e7c852a6b8e2c323832d3e40221f28692b43bbe39b6116c1 that is clearing trying to advertise their altcoin.
Interesting find.P.S. blockchair's new change is horrible, it makes searching very hard since the table keeps getting messed up.
June 19, 2021, 10:50:40 PM
Someone(s) is (are) "consolidating" the hell out of their wallet today. The mempool is filled with 15 to 30 KB transactions most of which have either 100 or 200 inputs but some are paying nearly 1000 recipients!
If they are paying 1000 recipients, they are not consolidating inputs, they are splitting inputs. They could also be advertising spam, such as 5208ecff5b3fe7c1e7c852a6b8e2c323832d3e40221f28692b43bbe39b6116c1 that is clearing trying to advertise their altcoin. Looking through the last block I didn't see any paying to many recipients, just consolidation like this one.
https://btc.com/d3cccd9d47798f9e26f9a95d4ebc2da651d66e606154284afaed013bbaad4850
That's 100 inputs all of a similar size and there are lots of transactions all doing the same indicating it's a service using an automated consolidation of their deposits.
June 19, 2021, 10:35:47 PM
Someone(s) is (are) "consolidating" the hell out of their wallet today. The mempool is filled with 15 to 30 KB transactions most of which have either 100 or 200 inputs but some are paying nearly 1000 recipients!
If they are paying 1000 recipients, they are not consolidating inputs, they are splitting inputs. They could also be advertising spam, such as 5208ecff5b3fe7c1e7c852a6b8e2c323832d3e40221f28692b43bbe39b6116c1 that is clearing trying to advertise their altcoin. June 19, 2021, 10:26:35 PM
Someone(s) is (are) "consolidating" the hell out of their wallet today. The mempool is filled with 15 to 30 KB transactions most of which have either 100 or 200 inputs but some are paying nearly 1000 recipients!
Can be seen here until they are confirmed: https://blockchair.com/bitcoin/mempool/transactions?s=size(desc)
I say "someone" because these transactions appeared together and they are paying similar fees.
It would be interesting to check the UTXO count after this because I'm wondering if this is actually consolidation or spam. It is a small one time thing so far so probably the former.
Can be seen here until they are confirmed: https://blockchair.com/bitcoin/mempool/transactions?s=size(desc)
I say "someone" because these transactions appeared together and they are paying similar fees.
It would be interesting to check the UTXO count after this because I'm wondering if this is actually consolidation or spam. It is a small one time thing so far so probably the former.
June 15, 2021, 10:59:11 PM
One of the uses of the near zero transaction fees has been to enable me to open Lightning Network channels and then if they close (regardless of being cooperative or even uncooperative), I can then open more channels costing pennies to initiate.
June 15, 2021, 08:33:35 AM
at 1sat/byte it would even make sense to move legacy address to full segwit (bech32) addresses so when prices are high and fees are beyond 23sat/vB you can get faster confirmation time when you trade or spent coins on the street near you.
June 15, 2021, 04:34:59 AM
Consolidate Bump (I'm not deleting it because it was Merited).
In the past months, fees have often been high. At the moment, mempool is empty, which means 1 sat/byte is now enough for a fast confirmation.
Consolidate your small inputs while you can, low fees won't last forever!
When you are in a rush, it saves a lot in fees if you can use only one input address (and ideally use native SegWit: bc1q......).
In the past months, fees have often been high. At the moment, mempool is empty, which means 1 sat/byte is now enough for a fast confirmation.
Consolidate your small inputs while you can, low fees won't last forever!
When you are in a rush, it saves a lot in fees if you can use only one input address (and ideally use native SegWit: bc1q......).
June 14, 2021, 12:43:25 AM
People are really hodling to their coins!
Indeed, of course they are really hodling their fiat too. The thing is all about the indecision. Everyone is currently waiting for that nasty >$40k price (or maybe for the <$30k) to make a move and until then the trading volume and the on-chain transaction volume will remain low.We also have the altcoin market that got dumped hard and wounded a lot of traders who are currently licking their wounds and staying out of it which is another reason for lack of on-chain transaction volume.
All of this can change if today that last $500 to $40k is overcome and the FOMO begins.
June 14, 2021, 12:30:34 AM
On the btc.com block explorer they show the hashrate reported by each pool and a 24 hr change. All the top pools reduced significantly when the latest 'China bans mining (again)" headlines came out. That's what caused this difficulty drop and also the last one 2 weeks ago. The total hashrate has fallen from ~190 EH/s to under `150 EH/s.
If the lost hashrate is from Inner Mongolia, it matches the statistics from Distribution of bitcoin mining's carbon footprint worldwide as of 2018, by regionThat chart is for 2018 and if the % of hashrate from Inner Mongolia per total hashrate won't change too much, it can be a good explanation.
Lost hashrate is about 21%. The contribution of carbon footprint for Bitcoin mining from Inner Mongolia in 2018 is around 26%.
The articles gives better figure for mining contribution from Inner Mongolia. China’s crackdown on bitcoin mining is getting real.
Bitcoin Mining Is Big in China. Why Investors Should Worry.
Quote
Inner Mongolia’s draft rules will be open for public comment until June 1, and the guidelines could set a precedent for other bitcoin mining hubs in China, such as Xinjiang, which accounts for some 20% of global bitcoin mining.
Figures in 2020 are not big different than in 2018.
Quote
According to the Cambridge Bitcoin Electricity Consumption Index, as of April 2020, China was responsible for 65% of all Bitcoin mining. And of that, 36% takes place in Xinjiang, the largest regional component. Why? Cheap coal means cheap energy to power the machines that mine Bitcoin. Xinjiang has an abundant supply of coal, and the region’s relative remoteness means that it’s far cheaper to use the resource locally than move it to other parts of China.
The fall matches with https://cbeci.org/mining_map. China contributes 65% of total hashrate (use tab Global) and 35.76% of hashrate is from Xinjang (use Tab China).
June 13, 2021, 11:32:28 PM
And yeah, something fishy is happening, it's been around 4 days we're we are seeing slower blocks by quite a wide margin, probably indeed the China thing is real.
On the btc.com block explorer they show the hashrate reported by each pool and a 24 hr change. All the top pools reduced significantly when the latest 'China bans mining (again)" headlines came out. That's what caused this difficulty drop and also the last one 2 weeks ago. The total hashrate has fallen from ~190 EH/s to under `150 EH/s.
June 13, 2021, 08:30:25 AM
A question from a noob:is there any way to know if the mined blocks are above or below average? (in terms of the time it takes to mine, I mean).
Yeah, pretty simple!
Blockchair has a last 24hours stats:
https://blockchair.com/bitcoin/
And bitinfocharts has a more in-depth graph:
https://bitinfocharts.com/comparison/bitcoin-confirmationtime.html#3m
And yeah, something fishy is happening, it's been around 4 days we're we are seeing slower blocks by quite a wide margin, probably indeed the China thing is real.
The difficulty will most likely drop by 5% and the next period might be negative also.
Now, the funny thing
We are seeing a lot of news, a lot of movements in the market, an average of ~120 blocks per day since Thursday but, there are empty blocks right now, transactions with 1sat/b are getting confirmed. And what's more interesting the difficulty will adjust tomorrow, so even if it won't be accurate the capacity will still increase so it might be possible we will see the first weekdays with 1 sat fees!
People are really hodling to their coins!
Or maybe everyone has switched to LN and we're watching the wrong charts?
If this continues from bumping this topic we might have to pin it!
June 13, 2021, 05:59:17 AM
I was thinking that if it is taking longer than average to mine, in the future the blocks will have to be mined at shorter intervals and compensate for this.
The difficulty changes every 2 weeks (2016 blocks). Other than that, the time it takes to mine a block doesn't influence the time it takes to mine the next block.For an estimate of the current/expected block time, see diff.cryptothis.com.
June 13, 2021, 05:58:31 AM
I know the blocks are scheduled to be mined every 10 minutes, but on average. I'm looking at 33 minutes now since the last mined block and the previous one was 20 something. With But it could be that the previous ones were mined at intervals of less than 10 minutes and we are simply at the average.
There is no rule saying the average time between blocks must be 10 minutes. What you may be thinking of is the retarget interval which dictates that 2016 blocks must be mined in 2 weeks (1,209,600 seconds) otherwise the difficulty will be adjusted after the 2016 blocks were mined to make it so.Anything else is based on pure chance. You can start mining and find the required hash on first round (hence find a block after a second) or keep hashing for 1-2 hours and still not find the required hash (hence the longer times like 1-2 hours between blocks).
So most of the times when you see divergence from 10 minutes it is simply by chance and that is not predictable. But sometimes it happens because of hashrate changes. For example if suddenly a big mining pool's servers go down we will see the time increase between the blocks because of the drop in hashrate, conversely if a big hashrate comes online the time decreases (we see more blocks).
June 13, 2021, 05:44:51 AM
A question from a noob:is there any way to know if the mined blocks are above or below average? (in terms of the time it takes to mine, I mean).
I know the blocks are scheduled to be mined every 10 minutes, but on average. I'm looking at 33 minutes now since the last mined block and the previous one was 20 something. With But it could be that the previous ones were mined at intervals of less than 10 minutes and we are simply at the average.
I don't know if I'm making myself clear.
I have been wondering because I see that transactions are being accumulated as they take longer to mine, and I was thinking that if it is taking longer than average to mine, in the future the blocks will have to be mined at shorter intervals and compensate for this.
I know the blocks are scheduled to be mined every 10 minutes, but on average. I'm looking at 33 minutes now since the last mined block and the previous one was 20 something. With But it could be that the previous ones were mined at intervals of less than 10 minutes and we are simply at the average.
I don't know if I'm making myself clear.
I have been wondering because I see that transactions are being accumulated as they take longer to mine, and I was thinking that if it is taking longer than average to mine, in the future the blocks will have to be mined at shorter intervals and compensate for this.
June 13, 2021, 02:20:37 AM
There are currently less than 1.100 unconfirmed transactions in the mempool according to https://mempool.space/. That means that even if mempool.space suggests a 4 sat/vByte as minimum fee, a 1 sat/vByte transaction has a good chance to receive next block confirmation considering that some blocks have 2-3k of transactions. Of course that's not a rule, and it all depends on how long we have to wait for the next block. Currently, we are 11 mins without a new block.
June 12, 2021, 10:19:17 PM
Judging by the current mempool size, I expect 1 sat/byte to be enough tomorrow.
Yeah. Last night I consolidated 21 inputs (3193 byte/1498 vbyte) for only 1501 satoshi which is ~1 satoshi/vbyte) and it has 7 confirmations now.Ever since price stabilized the fees have been low, the only reason why we had a small spike recently was because a couple of consecutive blocks took long times to be found (1-2 hours) that led to a fee market competition.
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