Bitcoin Blackout - No transactions on Christmas Eve! - page 2.

Anti-Cen

member

Activity: 210

Merit: 26

High fees = low BTC price

Quote from: HabBear on December 23, 2017, 12:58:51 PM

3,600 seconds per hour, which also means 86,400 seconds per day. If we divide 86,400 by 7 we'll have the number of 7-second intervals = 12,342

You're math is close.

I knew I was doing something wrong, just new it so if BTC can manage 7 transactions a second then we divide the number of seconds in a day
and we don't times it by seven like I did.

Wow I love this and it means the more electricity I consume each second will result in a smaller electric bill since we divide the time by amount instead or multiplying it.

Quote from: HabBear on December 23, 2017, 12:58:51 PM

We need 23 miners online clearing nothing but the unconfirmed transactions to clear them all. We can do this!

Again you beat me because I ran some code needed to start a virgin node and to start with it ran a DNS lookup
that returned a dozen IPs from the lookup of "Well known nodes" and then I asked them for a list of all the other
nodes that were up and working and these are know as "full nodes" and the result was, err well more nodes than i could count.

Clearly "full nodes" must mean they are "Full up with work" and this is why I never managed to get the code working that
asked for ledger headers from these nodes because they were "Full up with work" and could not service the requests.

I blame Russia Today and Ebay for my mistake because they was showing me like warehouses full to the roof of miners and
i had the number at something like 50,000 and not just 23

Viscera

sr. member

Activity: 660

Merit: 250

We can't hold peoples mind.. the blackout might happen when there are disasters going on the city or a worldwar fight it may happen that bitcoin transactions will stop in just a minute.

icanscript

hero member

Activity: 686

Merit: 502

This is not a real event. Blokchain does not sleep and does not celebrate. The bitcoin network works round the clock.

Akitot

newbie

Activity: 109

Merit: 0

Hahaha let the other guys have fun during holiday seasons....

Chaki

jr. member

Activity: 196

Merit: 1

Let also the office workers enjoy there holidays....
Be considerate.... Hahaha

jona

member

Activity: 266

Merit: 10

Bitcoin blackout is very necessary but how do you really convince people to stop transactions when all they want at this moment is Christmas money for there friends and family, this is not going to work out. The heavy transactions are really cause slow in confirmations of transactions.

GreenBits

legendary

Activity: 1148

Merit: 1048

Quote from: Valentina Ambassador on December 21, 2017, 04:26:04 PM

Hello author! I understand you very much! But you really think that you can just ask and people will stop make any transaction? It will be paradise if all people here will be like big family and stop make it but I don't believe in it!

LOL pretty much this. people have made arrangements priori to this announcement, and this is money. a surprising amount of businesses are actually staying open on Christmas nowadays as consumers venture outside of the home on this traditionally low key day. folks watch movies, eat at restaurants, use gas stations and grocery stores (gma forgot the eggnog!). if you use btc to pay for things like this..

.. then of course this isnt really an option.

but if the ones that can do, this should indeed have a wonderful effect on the congestion. Grin

pawanjain

hero member

Activity: 2702

Merit: 716

Nothing lasts forever

Although the blackout as you call it is necessary but it is very tough to convince all the people to do so. The number of unconfirmed transactions are keeping on increasing day by day and it is rising the price of transaction fee drastically. The blockchain network needs time to confirm the pending transactions so that the network becomes stable. The blackout is necessary but it is difficult to let the people do it as they will most likely do the transactions if they need it to. So we must find a better way to do it than a regular blackout.

tigan_gangmei

member

Activity: 73

Merit: 11

My two transaction is not complete too... Guess the miners are super busy.

HabBear

hero member

Activity: 1106

Merit: 638

Quote from: Anti-Cen on December 23, 2017, 12:47:02 PM

Quote from: HabBear on December 23, 2017, 12:31:49 PM

Do you think we can clear 288,000 transactions in a mere 24 hours? I suppose it's 48 hours if you account for the time frame from the earliest timezone hitting Christmas Eve to the last timezone that completes that same day. There's are 24 time zones across the globe.

I am not good at maths so maybe you can help me

60 seconds in a min so that's 3,600 per hour and we times that by 24 to give a total of 86,400 seconds a day

Now it get complicated processing the transactions because we don't have any dead periods waiting for new orders
to arrive so instead of processing seven a second like the max speed is on BTC we will call it eight instead for the reason given.

86,4000 X 7 = 604,800 without me even having to cook the numbers so maybe you can help me
with my mistake b/cus i am useless when it comes to maths

Just think these miners will be sitting in the cold after about (top of head) eight hours because they use these
power hungry mining devices to heat the room they are working in and they won't have much work to do.

You're math is close.

3,600 seconds per hour, which also means 86,400 seconds per day. If we divide 86,400 by 7 we'll have the number of 7-second intervals = 12,342 "transaction processing intervals" within 24 hours. Now we need to see how many unconfirmed transactions need to be squeezed into each of these "transaction processing intervals".

288,000 unconfirmed transactions / 12,342 transaction processing intervals = 23 transactions that need to clear every 7 seconds for 24 hours straight to have gotten through all the unconfirmed transactions.

Now this DOESN'T take into account the number of miners or the fact that the period. I think this is doable. We need 23 miners online clearing nothing but the unconfirmed transactions to clear them all. We can do this!

Now, where is the tally of unconfirmed transactions? How can we measure success? IF it doesn't work for Christmas day we should ramp up the promotion and hype to occur on New Year's Day - which is more recognized across the entire world. No new transactions on New Year's Day!

pitiflin

hero member

Activity: 980

Merit: 507

Such is impossible, here's the reason: People are going to dump bitcoin on Christmas or new year's Eve and flee to some place where they can spend their weekend peacefully. Bitcoin blackout if in case it ever happens it'd be countered immediately by whales and traders. So why think of such a ridicule. But still just for the sole reason of not to degrade you, I wish you luck

.

Anti-Cen

member

Activity: 210

Merit: 26

High fees = low BTC price

Quote from: HabBear on December 23, 2017, 12:31:49 PM

So what's the purpose of this? If there are no new transactions going through then miners will chase down the unconfirmed transactions? Do you think we can clear 288,000 transactions in a mere 24 hours? I suppose it's 48 hours if you account for the time frame from the earliest timezone hitting Christmas Eve to the last timezone that completes that same day. There's are 24 time zones across the globe.

This is the first I've heard of this but I like the idea. Are you the sponsor? How's the promotion of this event going worldwide?

I am not good at maths so maybe you can help me

60 seconds in a min so that's 3,600 per hour and we times that by 24 to give a total of 86,400 seconds a day

Now it get complicated processing the transactions because we don't have any dead periods waiting for new orders
to arrive so instead of processing seven a second like the max speed is on BTC we will call it eight instead for the reason given.

86,4000 X 7 = 604,800 without me even having to cook the numbers so maybe you can help me
with my mistake b/cus i am useless when it comes to maths

Just think these miners will be sitting in the cold after about (top of head) eight hours because they use these
power hungry mining devices to heat the room they are working in and they won't have much work to do.

Anti-Cen

member

Activity: 210

Merit: 26

High fees = low BTC price

Quote from: Bob-Bit on December 23, 2017, 10:18:00 AM

trying to share with you all what I do to stay ahead of the game.

Indeed you are a smart man !

Hope you stack a little silver/gold like me and I hope BTC plays a part in pushing the price down even more
and I am sure you can work out why and those that mine it are real nice people and will even post it to my
door with transaction cost being free after stamping a nice little picture on the front of it.

HabBear

hero member

Activity: 1106

Merit: 638

Quote from: helpmywallet on December 21, 2017, 04:18:36 PM

Please kindly stop making Bitcoin Transactions for a day or two...The Blockchain needs to catchup!

Let's do a blackout for Bitcoin Transactions.

288000+ Unconfirmed Transactions.

So what's the purpose of this? If there are no new transactions going through then miners will chase down the unconfirmed transactions? Do you think we can clear 288,000 transactions in a mere 24 hours? I suppose it's 48 hours if you account for the time frame from the earliest timezone hitting Christmas Eve to the last timezone that completes that same day. There's are 24 time zones across the globe.

This is the first I've heard of this but I like the idea. Are you the sponsor? How's the promotion of this event going worldwide?

Anti-Cen

member

Activity: 210

Merit: 26

High fees = low BTC price

Quote from: ?? on ??

Easy Fix , Use Bitcoin Cash or Litecoin instead, not just for Christmas Eve but for all time.

old bitcoin is dead, it is just most people are too stupid to realize it.

Currently $55 to make a transaction and still wait days, RIP old BTC.

I hope it does not go quite as far as that because of the knock effect but today you are my hero because I thought
that i was the only one here that dares to call in to question the block-chain or Lightning but then I noticed your
advert in the footer that many addictive gamblers here tend to use to peddle their wares but in your case I
decided to click the Youtube link .

I would send you a $1 in BTC as a compliment if you pay the $40+ transaction fee for me
but if you have a BTG address then games a good one.

Sorliand

newbie

Activity: 50

Merit: 0

Quote from: helpmywallet on December 21, 2017, 04:18:36 PM

Update________________

Bitcoin Blackout - No transactions for 24 hours.

Christmas Eve this Sunday December 24th. 00:01 Eastern Standard Time.

Facebook Event: https://business.facebook.com/events/2035024043411449/
Facebook Post: https://www.facebook.com/HelpMyWallet/posts/922006654617992

Like and Share! No transactions on Christmas Eve. Bitcoins confirmed by Christmas Day!

Take back our Network!

#####################################

Please kindly stop making Bitcoin Transactions for a day or two...The Blockchain needs to catchup!

Let's do a blackout for Bitcoin Transactions.

288000+ Unconfirmed Transactions.

https://blockchain.info/unconfirmed-transactions

HelpMyWallet.com

This is my cry for help... Grin

if all be smart and stop using bitcoin will be better but all try to get some profit from correction and buy more.

number of Unconfirmed Transactions back less than 200,000 but still so high

Bob-Bit

jr. member

Activity: 241

Merit: 6

Quote from: Anti-Cen on December 23, 2017, 09:57:16 AM

Quote from: Bob-Bit on December 23, 2017, 09:43:58 AM

Alright, here's a suggestion that can help without cramping peoples style too much. If you move some money over to Coinbase or something like that, and have it linked to their visa card, you can spend as much as you want any time you want, and the transactions take place off the blockchain. They pay out Visa in big mass payments, which consolidates the transactions. I know people don't like the whole "soft" wallet thing, but think of it a different way, more like your buying prepaid Bitcoin Visa cards that can be recharged.

if you like high fees and poor exchange rates then use Coinbase but expect "Technical errors" if the price
of BTC is moving fast and to wait ten days using SEPA to move money from Coinbase and back to your own
bank account.

You also risk not being paid out on forks or having to wait to access the money because like
you say " transactions take place off the blockchain "

Did I tell you how they scammed me out of $10 ? Well never mind, many others are telling the same story

That's why I said to think of it as a "prepaid Bitcoin Visa card" not as a normal wallet, or a marketplace to buy or sell. Don't use it as an exchange, just a payment processor. I can use my Shift card anywhere Visa is accepted anytime I want. No minimum, no waiting for transactions, no fees on the transactions. I mine, so I just point my pool to pay out to the Coinbase account till there's $500 or so there, then point it back to my regular wallet when it's "charged". No fees. Did I mention NO FEES? I'm working on setting up a Bitpay card right now as well, (Visa also) but I'm not an expert on that yet. My idea is to have equal amounts on both the Shift and the Bitpay cards, and if I go to buy something, (larger purchase, not for an egg Mcmuffin and a coffee) I'll take a quick look at which one has the higher exchange rate at the moment, and use that one. Just trying to share with you all what I do to stay ahead of the game.

Jet Cash

legendary

Activity: 2814

Merit: 2472

https://JetCash.com

Easy solution - start a mining pool, and give members priority for their transactions.

Anti-Cen

member

Activity: 210

Merit: 26

High fees = low BTC price

Quote from: Bob-Bit on December 23, 2017, 09:43:58 AM

Alright, here's a suggestion that can help without cramping peoples style too much. If you move some money over to Coinbase or something like that, and have it linked to their visa card, you can spend as much as you want any time you want, and the transactions take place off the blockchain. They pay out Visa in big mass payments, which consolidates the transactions. I know people don't like the whole "soft" wallet thing, but think of it a different way, more like your buying prepaid Bitcoin Visa cards that can be recharged.

if you like high fees and poor exchange rates then use Coinbase but expect "Technical errors" if the price
of BTC is moving fast and to wait ten days using SEPA to move money from Coinbase and back to your own
bank account.

You also risk not being paid out on forks or having to wait to access the money because like
you say " transactions take place off the blockchain "

Did I tell you how they scammed me out of $10 ? Well never mind, many others are telling the same story

Anti-Cen

member

Activity: 210

Merit: 26

High fees = low BTC price

Yes i will join your boycott but yesterday I had to pay an extortion fee of $25 to move coins from
Coinbase to my Jaxx wallet to ensure that I get in on the Segwit2x fork on the 28th of December
that seems to be hidden in the news we get feed to us.

It might be a scam, well hot air but it would be good if the fork was real and the price of X2B
was going up when i looked so who knows.

Topic: Bitcoin Blackout - No transactions on Christmas Eve! - page 2. (Read 874 times)