Is anyone else glad Bitcoin is calming down?

larry_vw_1955

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Quote from: Agbe on May 31, 2023, 09:17:17 AM

I think this days even campaign managers are hunting those participants that is using AI ChatGPT in their comments and posts. And this will also reduce the copy and post from internet.

yeah hopefully. hopefully they get their account deleted and their earnings deleted because they are cheating. are you listening cryptodude?

Quote

And concerning the topic of the discussion. When bitcoin price is down, those who want to buy will be very happy while for those who want to sell will not be happy. So in all time bitcoin price is a favour to users.

but figuring out when is the right time to buy and sell is not so easy. are we going up or down from here? no one knows.

Agbe

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Quote from: larry_vw_1955 on May 30, 2023, 10:05:18 PM

ChatGPT is not perfect. but isn't there a rule about people just spamming using AI? they really should enforce it if so because these AI comments stick out like a sore thumb and add nothing of value. his is a prime example. Shocked

I think this days even campaign managers are hunting those participants that is using AI ChatGPT in their comments and posts. And this will also reduce the copy and post from internet. And concerning the topic of the discussion. When bitcoin price is down, those who want to buy will be very happy while for those who want to sell will not be happy. So in all time bitcoin price is a favour to users.

larry_vw_1955

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Yes, many people are glad that Bitcoin is calming down. The extreme volatility and rapid price fluctuations of Bitcoin have caused uncertainty and unease among investors and the general public. The recent stabilization of Bitcoin's price and decreased volatility provide a sense of relief for those who prefer a more stable and predictable market. This calm period allows for a more rational evaluation of Bitcoin's value and potential, and it can contribute to a healthier and more sustainable growth of the cryptocurrency ecosystem.

so immediately after you join this bounty https://bitcointalksearch.org/topic/m.62303563

you start spamming AI comments using chatgpt. it's so obvious.

Quote from: Z-tight on May 30, 2023, 08:39:53 AM

Quote from: ?? on ??

Yes, many people are glad that Bitcoin is calming down. The extreme volatility and rapid price fluctuations of Bitcoin have caused uncertainty and unease among investors and the general public.

The op is talking about BTC transaction fees and not the price of BTC, read the op.

ChatGPT is not perfect. but isn't there a rule about people just spamming using AI? they really should enforce it if so because these AI comments stick out like a sore thumb and add nothing of value. his is a prime example. Shocked

Z-tight

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Quote from: ?? on ??

Yes, many people are glad that Bitcoin is calming down. The extreme volatility and rapid price fluctuations of Bitcoin have caused uncertainty and unease among investors and the general public.

The op is talking about BTC transaction fees and not the price of BTC, read the op.

Quote from: Z390 on May 29, 2023, 10:45:51 AM

Who told you that Bitcoin is calming down? We can make a transaction using 1$ today

It is not accurate to calculate BTC transaction fees or fee rate in any other currency but in sats/vByte, because it is the size of your transaction that will determine the exact fee you'll pay for a transaction.

Quote from: Z390 on May 29, 2023, 10:45:51 AM

the mess that ordinals and brc20 will create for Bitcoin will be unforgettable, I can bet this with anyone, the negative impact will be talk about for years to come.

The negative impact is only in tx fees, it does not pose any risk to the BTC network, i know that nobody likes to pay high tx fees, but it is certain in the BTC network, because there will be a time that transaction fees would be the only incentive for BTC miners, and the fees won't be cheap at that time.

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Who told you that Bitcoin is calming down? We can make a transaction using 1$ today but that's not the end to the mess, what if in the next bull market those BRC20 tokens do very well? There will be big problem, there chances of ordinals doing well before they face a painful end is very high because this mess was created in a bear market, this is the problem.

Every shits that's created in a bear market still pumps in a bull market unless they rugpull before a bull market happens, the mess that ordinals and brc20 will create for Bitcoin will be unforgettable, I can bet this with anyone, the negative impact will be talk about for years to come.

larry_vw_1955

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Quote from: philipma1957 on May 12, 2023, 07:34:26 PM

Miners cant afford that.

but large pools that do not share fees ie antpool can do it.

in fact they can do zero tx blocks slowing the network.

and not collect fees for others pointed to their pool

then point their own hash at viabtc as viabtc shares fees.

so they lose out on antpool blocks but whale on viabtc blocks.

since i don't know too much about mining pools and such maybe it's a dumb question but why would someone mine with antpool if they don't share fees with them ? what's the benefit of mining with antpool in that case? maybe i'm confused about what it means to "share fees" but i'm sure you know. Shocked

philipma1957

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Quote from: larry_vw_1955 on May 12, 2023, 07:15:46 PM

Quote from: Bitcoin_Arena on May 12, 2023, 06:27:22 PM

How do you suppose this could be done?

Having a block maxed out with a lot more transactions is an incentive to the miners, as they will earn some more Bitcoins from the transaction fees on top of block rewards.

i guess if a miner had a large share of the network and they wanted to cause damage to it they could refuse to include transactions and just fill up blocks with whatever they wanted to, if anything. but as you point out, it wouldnt be in their financial best interest it doesn't seem like. but say they had 30% of the hash rate then i guess they could mine 30% of the blocks so they could slow down the network by 30% if they just mined empty blocks.

Miners cant afford that.

but large pools that do not share fees ie antpool can do it.

in fact they can do zero tx blocks slowing the network.

and not collect fees for others pointed to their pool

then point their own hash at viabtc as viabtc shares fees.

so they lose out on antpool blocks but whale on viabtc blocks.

larry_vw_1955

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Quote from: Bitcoin_Arena on May 12, 2023, 06:27:22 PM

How do you suppose this could be done?

Having a block maxed out with a lot more transactions is an incentive to the miners, as they will earn some more Bitcoins from the transaction fees on top of block rewards.

i guess if a miner had a large share of the network and they wanted to cause damage to it they could refuse to include transactions and just fill up blocks with whatever they wanted to, if anything. but as you point out, it wouldnt be in their financial best interest it doesn't seem like. but say they had 30% of the hash rate then i guess they could mine 30% of the blocks so they could slow down the network by 30% if they just mined empty blocks.

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Quote from: larry_vw_1955 on May 08, 2023, 06:38:41 PM

couldn't a mining pool just create a block with only say 10 transactions which represented the highest fees of all the transactions in the mempool?

How do you suppose this could be done?

Having a block maxed out with a lot more transactions is an incentive to the miners, as they will earn some more Bitcoins from the transaction fees on top of block rewards.

Quote from: larry_vw_1955 on May 08, 2023, 06:38:41 PM

if they really wanted to mess bitcoin up just mine empty blocks then no one could get a transaction through... Shocked

With the current network hashrate? I believe empty blocks are rather something of luck and randomness?

Quote from: philipma1957 on May 08, 2023, 08:50:15 AM

Cause the fee system is flawed and they are attacking the flaws.

2 big pools that do not pay fees to miners is all you need to this attack.

And how long before those Big pools become small because different miners decided to move elsewhere, where they get paid? Grin

larry_vw_1955

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Quote from: bettercrypto on May 09, 2023, 06:28:33 PM

All the high fees that are happening now in bitcoin are actually due to ordinals. I just hope that everything will be fixed and back to normal soon, because if this is not remedied, the adoption of bitcoin will also be affected for sure.

https://www.forbes.com/sites/digital-assets/2023/05/08/bitcoin-nft-hype-creates-high-fees-as-unconfirmed-transactions-skyrocket/

with headlines like this, it's already being affected in the sense that no one in their right mind would become involved with bitcoin because they were looking for a way to "send money". they'll be saying " wow what a disaster ". Shocked

bettercrypto

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Quote from: OgNasty on April 29, 2023, 03:58:17 PM

I think the mempool was mostly getting full because of Ordinals, right? I suspect the initial excitement has died down and people trading Ordinals aren’t consuming as much block space as they were when it was new and exciting. That leaves more space for other transactions which allows the mempool to clear and the cost of transacting to go down.

All the high fees that are happening now in bitcoin are actually due to ordinals. I just hope that everything will be fixed and back to normal soon, because if this is not remedied, the adoption of bitcoin will also be affected for sure.

And with each passing day, each fee that is deducted from its bitcoin transaction becomes more and more inhumane and unfair.
Hopefully the time will come when bitcoin holders will also be reduced just because of this matter which is only a problem with high fees.

larry_vw_1955

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Quote from: philipma1957 on May 08, 2023, 08:50:15 AM

Cause the fee system is flawed and they are attacking the flaws.

2 big pools that do not pay fees to miners is all you need to this attack. They do not need the ordinals BRC20 shit to do it.

Simply send 0.0000050 enough and pay 1 sat per byte since you control your pool take those first you can
greenlight 1 sat per byte. Fill 60% of every block. The remain 20% people pay big fees

500sats 400 sats 300sats.

So 40% of 500 = 200 sats.

60 percent of 1 = .6 sats

the block averages to 200.6 sat fee

you and the other big pool earn 50% of the blocks

you get ½ your fees you paid back

but you get ½ of the high fees back

= big money manipulation and profits.

also it will drive btc price downwards as who wants to pay 500 sats a byte.

couldn't a mining pool just create a block with only say 10 transactions which represented the highest fees of all the transactions in the mempool? thus having an effect of slowing down the network. why would they need to include any of their own transactions? or if they really wanted to mess bitcoin up just mine empty blocks then no one could get a transaction through... Shocked

bettercrypto

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Quote from: philipma1957 on May 08, 2023, 09:55:45 AM

Quote from: tjtonmoy on May 08, 2023, 08:54:18 AM

Quote from: bettercrypto on May 07, 2023, 04:55:58 PM

As for me, last 4 days ago I also made a Bitcoin transaction like you, the charge for what I did was also 5$, I also thought of reducing the fees, but I immediately thought that the transaction I would make might not go well so I let it go the fees are only 5$ instead of bothering me because that's exactly what happens at those times because of the nft ordinals in blockhain.

I also found out that most of the people who tried to reduce the fees did not succeed, but instead waited for a long time before they were able to make a transaction again with high fees. That means there is no use even if the fees are reduced or adjusted.

It also took me 4 days to be able to make another transaction with higher fees. I don't use a wallet, which supports RBF service. So I had to wait till the transaction was dropped out from the mempool. Then I was in need of some money, so I had to use the high priority at that moment. Cost me more than $6.
It is getting crazy day by day. Does anyone know when this will cool down? Today's high priority transactions will cost more than 618 sat/vB.

Well it is driving price of btc downwards. we are under 28k

I have to think they want to see how far they can drive price downwards. So this will last at least a week or 2.

Do you mean that the more the value of Bitcoin decreases, the more the fees that will be charged to us will increase if we make a transaction using Bitcoin? is that right? And when its value increases, is there a chance that its fees will decrease?

Because in what is happening now, what I see the most that will lose here are those who make a transaction that is only a small amount, it seems that even if you withdraw a large amount, there will still be some left over, but if the amount is only about 40$ the amount will be deducted then a little can only be obtained or reach your wallet.

sha420hashcollision

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Quote from: philipma1957 on May 08, 2023, 09:55:45 AM

Quote from: tjtonmoy on May 08, 2023, 08:54:18 AM

Quote from: bettercrypto on May 07, 2023, 04:55:58 PM

As for me, last 4 days ago I also made a Bitcoin transaction like you, the charge for what I did was also 5$, I also thought of reducing the fees, but I immediately thought that the transaction I would make might not go well so I let it go the fees are only 5$ instead of bothering me because that's exactly what happens at those times because of the nft ordinals in blockhain.

I also found out that most of the people who tried to reduce the fees did not succeed, but instead waited for a long time before they were able to make a transaction again with high fees. That means there is no use even if the fees are reduced or adjusted.

It also took me 4 days to be able to make another transaction with higher fees. I don't use a wallet, which supports RBF service. So I had to wait till the transaction was dropped out from the mempool. Then I was in need of some money, so I had to use the high priority at that moment. Cost me more than $6.
It is getting crazy day by day. Does anyone know when this will cool down? Today's high priority transactions will cost more than 618 sat/vB.

Well it is driving price of btc downwards. we are under 28k

I have to think they want to see how far they can drive price downwards. So this will last at least a week or 2.

As a small fish I will be apeing any paper handed selling into the attack, however i want to again implore people to disrespect the inscription spam with ordisrespector https://minibolt.info/guide/bonus/bitcoin/ordisrespector.html#build-it-from-the-source-code

sha420hashcollision

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philipma1957

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Quote from: tjtonmoy on May 08, 2023, 08:54:18 AM

Quote from: bettercrypto on May 07, 2023, 04:55:58 PM

As for me, last 4 days ago I also made a Bitcoin transaction like you, the charge for what I did was also 5$, I also thought of reducing the fees, but I immediately thought that the transaction I would make might not go well so I let it go the fees are only 5$ instead of bothering me because that's exactly what happens at those times because of the nft ordinals in blockhain.

I also found out that most of the people who tried to reduce the fees did not succeed, but instead waited for a long time before they were able to make a transaction again with high fees. That means there is no use even if the fees are reduced or adjusted.

It also took me 4 days to be able to make another transaction with higher fees. I don't use a wallet, which supports RBF service. So I had to wait till the transaction was dropped out from the mempool. Then I was in need of some money, so I had to use the high priority at that moment. Cost me more than $6.
It is getting crazy day by day. Does anyone know when this will cool down? Today's high priority transactions will cost more than 618 sat/vB.

Well it is driving price of btc downwards. we are under 28k

I have to think they want to see how far they can drive price downwards. So this will last at least a week or 2.

tjtonmoy

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Quote from: bettercrypto on May 07, 2023, 04:55:58 PM

As for me, last 4 days ago I also made a Bitcoin transaction like you, the charge for what I did was also 5$, I also thought of reducing the fees, but I immediately thought that the transaction I would make might not go well so I let it go the fees are only 5$ instead of bothering me because that's exactly what happens at those times because of the nft ordinals in blockhain.

I also found out that most of the people who tried to reduce the fees did not succeed, but instead waited for a long time before they were able to make a transaction again with high fees. That means there is no use even if the fees are reduced or adjusted.

It also took me 4 days to be able to make another transaction with higher fees. I don't use a wallet, which supports RBF service. So I had to wait till the transaction was dropped out from the mempool. Then I was in need of some money, so I had to use the high priority at that moment. Cost me more than $6.
It is getting crazy day by day. Does anyone know when this will cool down? Today's high priority transactions will cost more than 618 sat/vB.

philipma1957

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Quote from: NotFuzzyWarm on May 08, 2023, 08:26:32 AM

Quote from: Coose365 on May 07, 2023, 10:31:50 PM

...
yes. but being able to push more through a block would just be beneficial for everyone even the monkey tards. Lets be honest the 1MB block limit is holding BTC back, we can store alot more data now for dirt cheap.

And folks will be bitching even more about the storage required for a full node to hold the entire chain... BTC was never intended to be used for general storage of data. I've no idea why the hoards of idjits are doing it but increasing block size just to accommodate them is a horrible idea.

Cause the fee system is flawed and they are attacking the flaws.

2 big pools that do not pay fees to miners is all you need to this attack. They do not need the ordinals BRC20 shit to do it.

Simply send 0.0000050 enough and pay 1 sat per byte since you control your pool take those first you can
greenlight 1 sat per byte. Fill 60% of every block. The remain 20% people pay big fees

500sats 400 sats 300sats.

So 40% of 500 = 200 sats.

60 percent of 1 = .6 sats

the block averages to 200.6 sat fee

you and the other big pool earn 50% of the blocks

you get ½ your fees you paid back

but you get ½ of the high fees back

= big money manipulation and profits.

also it will drive btc price downwards as who wants to pay 500 sats a byte.

NotFuzzyWarm

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Quote from: Coose365 on May 07, 2023, 10:31:50 PM

...
yes. but being able to push more through a block would just be beneficial for everyone even the monkey tards. Lets be honest the 1MB block limit is holding BTC back, we can store alot more data now for dirt cheap.

And folks will be bitching even more about the storage required for a full node to hold the entire chain... BTC was never intended to be used for general storage of data. I've no idea why the hoards of idjits are doing it but increasing block size just to accommodate them is a horrible idea.

larry_vw_1955

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Quote from: Coose365 on May 07, 2023, 10:31:50 PM

yes. but being able to push more through a block would just be beneficial for everyone even the monkey tards.

all other things being equal it would lower transaction fees somewhat you would expect. but it wouldn't affect miners income since there would be more transaction volume.

Quote

Lets be honest the 1MB block limit is holding BTC back, we can store alot more data now for dirt cheap.

so what's the argument against having a larger block size. if storage is dirt cheap then why not bump it up to 10MB or even 100?

let me guess, people with tiny 1TB hard drives would complain that they don't want that because they're not good for another 5 years now? Shocked

Topic: Is anyone else glad Bitcoin is calming down? (Read 482 times)