Last time round when they did this I was not affected as I just used higher transactions fees. All transactions still went into the next 1 or 2 blocks so no delays were experienced.
I think the important thing to remember when this 'test' is happening is to check your transactions fees. Most wallets now, like Electrum, has a suggested fee which should be fine to still get your transaction through quickly enough. Problem comes when you enter very low fees. Your transaction is then bound to get stuck together with the 'spam' they plan to release.
Topic: CoinWallet says Bitcoin stress test in September will create 30-day backlog - page 7. (Read 6444 times)
August 20, 2015, 01:38:20 AM
August 20, 2015, 01:35:15 AM
i read this in ibtimes last day, i dont really understand about the backlog.will this affect our online wallets????it says,:
"UK-based mining service CoinWallet is gearing up to conduct a stress test of the Bitcoin network in early September, which it said will likely render most standard wallet software "worthless" and create "nearly a 30-day backlog".
"UK-based mining service CoinWallet is gearing up to conduct a stress test of the Bitcoin network in early September, which it said will likely render most standard wallet software "worthless" and create "nearly a 30-day backlog".
Interesting. Things are not as they seem, nor as they are claimed to be.
Hint: They are spending far too much money on it for this to be a "stress test." Figure out who profits. Figure out whether the profit is enough to justify the expense. Then you will understand what is really happening. "Mining service" my ass.
As to the claim that it will render most standard wallet software worthless? I know for sure that it won't bother wallets that run on full nodes. So-called SPV clients? I dunno, there's a bunch of them and I haven't reviewed all that code. Web wallets? There's no way of knowing at all; most don't even make it clear what code they're even running.
The effect on transactions will be to extort slightly higher fees out of the users. Pay a tiny increment in fees over what the backlog bids for block space, and your transactions will go through rapidly and get immediately into a block as usual.
August 20, 2015, 01:25:22 AM
i read this in ibtimes last day, i dont really understand about the backlog.will this affect our online wallets????it says,:
"UK-based mining service CoinWallet is gearing up to conduct a stress test of the Bitcoin network in early September, which it said will likely render most standard wallet software "worthless" and create "nearly a 30-day backlog".
"UK-based mining service CoinWallet is gearing up to conduct a stress test of the Bitcoin network in early September, which it said will likely render most standard wallet software "worthless" and create "nearly a 30-day backlog".
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