Bitcoin reaches record high # of daily transactions - page 2.

stompix

legendary

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Blackjack.fun

Quote from: PrivacyG on April 30, 2023, 08:13:48 AM

This is why three letter agencies are scared too.

Reading this after reading hundreds of pages on users here claiming that a terrorist attack is happening on Bitcoin with jpg monkeys, that spam done by people minting memes on the chain is killing normal daily transactions and it's making the true purpose of Bitcoin unachievable, thinking those evil three letter agencies are scared of a protocol that can be killed by 10x10 pixels is kind of.... Grin

Quote from: nutildah on April 30, 2023, 07:32:25 AM

Possibly my favorite piece of terrorism is this chess game built from scratch, simply stunning that the entire thing is only about 12.1 kb:
https://ordinals.com/inscription/d412d1aa997583ec5c558bee031291bac78f9f9a8acb2edccd2b6e19df64c9bbi0

But, but..that's not what Satoshi planned! Roll Eyes

Btw, new 24h interval record, 566,441!

Little Mouse

legendary

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Marketing Campaign Manager |Telegram ID- @LT_Mouse

I recently have seen a lot of normal people are interested in Bitcoin Ordinal. Can it have something to do with the increases number of transactions? There are a lot of invest in altcoin but suddenly I can see an interest at Bitcoin ordinal on them.

Quote from: PrivacyG on April 30, 2023, 08:13:48 AM

Am I wrong by saying Lightning Network helps diminish the number of daily Transactions rather than help them increase?

You are right. If Lightning Network is in full action, bitcoin on chain transactions will be decreased. The transactions in Lightning Network has nothing to do with on chain. Only transactions, happening at the time of opening channel and closing channel, will have record in the bitcoin blockchain.

PrivacyG

hero member

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Crypto Swap Exchange

Quote from: hd49728 on April 30, 2023, 07:28:02 AM

Do you know what is it come from?

Increases in usage of Segwit and Lightning Network or just people are making smaller value transactions that can be contributed by small bitcoin users rather than Bitcoin whales.

Am I wrong by saying Lightning Network helps diminish the number of daily Transactions rather than help them increase? As far as I am concerned. You can make a number of Transactions on the Lightning Network and only output a few on the first Layer of the network. Not every single Lightning Network Transaction is registered in the Blockchain. This is why three letter agencies are scared too. They can not track down Lightning Network TX's as easily.

nutildah

legendary

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Yes I want to take a moment to thank all the mean cyber terrorists for helping bitcoin to break new records Cheesy

Its funny that people have created a new shittoken standard for Bitcoin using Ordinals, all the more power to them I suppose.

Possibly my favorite piece of terrorism is this chess game built from scratch, simply stunning that the entire thing is only about 12.1 kb:

https://ordinals.com/inscription/d412d1aa997583ec5c558bee031291bac78f9f9a8acb2edccd2b6e19df64c9bbi0

Its a fully-functioning chess game, all you have to do is double-click a piece and then double-click where you want to move it. Apparently the opponent is at around Level 800!

Quote from: hd49728 on April 30, 2023, 07:28:02 AM

Do you know what is it come from?

TBH I didn't analyze it but I suspect it has to do with what Stompix mentioned.

hd49728

legendary

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Not your keys, not your coins!

Quote from: nutildah on April 30, 2023, 07:11:06 AM

Congratulations to Bitcoin, which just reached a record-high 564,839 transactions in the last 24 hours. This means the world's most famous cryptocurrency is now being utilized more than ever

Do you know what is it come from?

Increases in usage of Segwit and Lightning Network or just people are making smaller value transactions that can be contributed by small bitcoin users rather than Bitcoin whales. An increasing adoption for Bitcoin is going an soon its blocks will be fulled by bigger demand.

In future I think Bitcoin developers will have to work and bring proposal to increase its block size like in 2017 with Segwit. Bitcoin community will vote to support that proposal and hopefully it won't be a mess like 2017 Segwit.

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Interesting is that the record is also happening with relatively normal block time, we don't have a record of blocks in the last 24 hours, just 148 so far from times when we even had over 160 for two or three days one after other.

As for why this is happening, not so many are going to like the reason, it's again "spam" or how did they call it, a "terrorist" attack on bitcoin!
https://unisat.io/brc20/meme Grin

nutildah

legendary

Activity: 3010

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Congratulations to Bitcoin, which just reached a record-high 564,839 transactions in the last 24 hours. This means the world's most famous cryptocurrency is now being utilized more than ever, as is also reflected on the following chart:

Hourly chart, weekly MA:

Fees as a % of block reward is also the highest its been since early March (almost 5% of total reward). Will be interesting to see if this is a trend or a one-off event.

Topic: Bitcoin reaches record high # of daily transactions - page 2. (Read 334 times)