Topic: Is the Mempool under a DOS attack? (Read 290 times)

I am putting my money on the theory that it has something to do with the "Ordinals" hype that are currently trending. 

My other conspiracy theory are that a competitor shitcoin are using their proceeds from pre-mined "free tokens" to attack Bitcoin, in the hope that people would buy more shitcoins, when they see that Bitcoin is struggling. 

I think most people have realized that the Lightning Network is the "currency" network of Bitcoin, so flooding the Bitcoin Blockchain actually has no impact on that.... so it's is money being burnt for nothing. 

They could have opened a LN channel when fees were lower, or switch to custodial LN. As much as I hate blockchain spam, on-chain Bitcoin can't be used on a large-scale for many small transactions.

If Bitcoin transaction fees can ruin your life, you have bigger problems.

Denial of service must be getting a new meaning these days, for a poor old 90s child like me to understand...


And then there are also people like you claiming all of this but probably doing nothing of the sort. If you're guilty of spamming the forum then you should be all right with network spammers.

How do you "receive" btc when you're the one making the transaction and paying a higher fee? Explain yourself, show your transaction, and sign the address and I will take back everything I say about you and posters like you. Promise.

That's right. The poor people will ve forced to set the fee much higher and the amount that they had will decrease just because of the fee. I also have this problem where I received less BTC because I had to make the transaction much faster getting confirmed. I experienced delayed of my BTC almost 1 week before when the fee had increased.

Beginning this month, i made two transactions. Wallet was set to 10mb (mempool distance) and it automatically set the tx fee, one 9 sat/b, the other 9.5 sat/b. The first one is still waiting, the second one took 1 day.

I wish it was from traffic of people using Bitcoin for actual bitcoin transactions worldwide and not pool sponsored spam.

Thanks spammers and those who defend it, laugh at the people who can't afford 2 dollars for a 5 dollar transaction or put a bunch of money upfront to open a lightning channel (which also needs to fight the spammers to open and severely limits you the amounts you can transact).

You are ruining people's lifes but you don't care because you earn in the tens thousands per month, so of course you laugh at the poor...

There was an NFT hype. I doubt that it was a planned DOS attack, but the problem is that blockchain mechanism is vulnerable to such things despite being well-protected due to its decentralised nature. So it requires some effort to improve protocols...

A simple look on the blockchain shows that the entity that spams the blockchain receives/withdraws funds from Binance, so Binance know who that is.

first transaction coming from bc1qm34lsc65zpw79lxes69zkqmk6ee3ewf0j77s3h which the binance hot wallet

The rest is spam - https://mempool.space/address/bc1pmgchlfu9jt3k5a2nh2a0nwygvv9dj30az8ystz404franf4fad4sjsnt9v

This is just one example, there are many other addresses that look and do the same.

It is more like dust attacks than a DDOS which is not new to bitcoin network, since then the network getting attacked for whatever reasons they have. The attack may cause bitcoin unattractive due to higher fees but the price wont go down just because of the effect and of such attack.

This was true for the first Ordinals wave in March/early April. However, unfortunately, the BRC-20 fad has another character. They are relatively small transactions of 300-400 bytes each, but there are a LOT of them.

So even if the devs did what you (and other Ordinals critics, and IMO you do have a point with that) proposed and limited the Taproot script size, the BRC-20 transactions would not be affected.

By the way, BRC-20 is the most idiotic token protocol I saw on the blockchain (more on that here). There are already around 20 token protocols for Bitcoin, starting with coloured coins like EPOBC in ~2012, and Counterparty and Omni (home of the original Tether) being the most popular.

BRC-20 stores a small JSON text in cleartext(!) on the blockchain, and even due the way Ordinals work they need two transactions to create a token! So there's a lot of overhead and they're actually wasting a lot of money with the only reason being to use a "ordinals-based" protocol.

If they were simply using Counterparty or Omni, or even better, RGB or Taro (which are beta still, afaik) then they would waste much less space and fees.

So this is what I think about BRC-20:



I don't know if even a double facepalm is enough ...

Here’s a conspiracy theory for you… What if Pepecoin was a way to raise a ton of money to fund an attack against Bitcoin while simultaneously attempting to replace it with a rising memecoin? Possible? Probably not, but for conspiracy theorists it might be fun to think about. Funding attacks with the promise of shared riches could lead to interesting consequences.

In short: spammers found a way to put data not strictly related to the actual transaction in a transaction. It wouldn't be a problem if it were only a few bytes like the famous Satoshi message in the first block, but no, these guys have a profit incentive like spam has always had, at the expense of flooding their attacked service with noise (Which is where the modern definition of spam comes from. illustrated by that Monthy Python sketch...).

So yes, it is. And clearly shown here:



This graph is showing that transactions under 20 sats/b are getting dropped, and the current peak is paying 200. You can check there what it was like until February. But this is not the end of it, as more and more spammers join thinking this is the new Ethereum, things are only going to get worse...

According to some comments elsewhere, this is due to the relaxing of the consensus rules in the Bitcoin protocol that has been ongoing in the late years. Finally someone found a way to abuse it, performed a public demonstration that showed the way to the rest of the spammers who not only don't care if bitcoin fails, but might actually have incentives to make it fail while also get some side cash selling this spam in the process.

While PoW makes it increasingly expensive to attack Bitcoin, because this spam is making them money, they found a sustainable way to keep increasing the attack. It is seriously wrong to ignore it and you should be wary of people saying nothing is wrong, for they must have an agenda against Bitcoin by siding with the spam. Perhaps they just want their altcoin/sidechain to be more used, or could be State/Banks infiltration...

Just not sure why anyone wondering about mempool and uses Google doesn't find out what's behind it all heh.

It's the latest fad, we all gotta bear it, unfortunately.


A handful of people think it's worth something, indeed. And it doesn't even matter how the tech works, doesn't matter people are attaching arbitrary value to perceived rarity, people recognise it's a ponzi and they're jumping on it.

Just like all other ponzis, the early entrants are making money, and that's what's fueling newer entrants.

Actually surprised it took so long for these schemes to latch on to Bitcoin.

Bitcoin network can not be DDos attacked. You can make 51% attack but it requires to own 51%+ hashrate to do it. It is impossible.

Dust attacks are not strange and it happens many times on the network. Attackers do that to mislead bad fee rate estimators and force people to pay very expensive fee rate for their transactions. It is very bad if they don't know methodology to check fee rate and pick a good one. Or if they rely on estimators which are bad in formulas and give a overpaid suggested fee rate. Or if they use exchange wallet, they will have to accept withdrawal fee of exchange that is expensive.

You can prevent dust attacks to your wallet (non custodial).
Dust Attack, what it is, why it is dangerous and how to prevent falling to it

BRC20 tokens rely on Ordinals and Inscriptions is all that I know about this. And likely the reason for the increased fee? I mean both ordinals NFT and BRC20 tokens which are fungible tokens.

Thank you, that explains it all.

Not sure why anyone would want to make a token on the BTC blockchain however. The ETH blockchain is much better suited to that, no?

That's not true. BRC-20 doesn't exist on the Bitcoin blockchain. All it does on-chain is create dust spam, and someone else says it's worth something. It's basically the next step after anything from ICOs and Forks to DeFi and NFTs: how to use gullible people's greed to get them to hand over their money.
I can already tell you many people are going to lose their money, and a few people will get very rich. Until it busts, after which they'll make up the next pump and dump scheme.

it's easy you can just use this website to check it https://brc-20.io/, I just check all the transactions that you shared on 1st page and I believe all of that transactions for Brc-20 tokens
 
https://mempool.space/tx/d0cc7f159d4be77b01954830ac02dd3717044fc63be5f0248fce822313c6ce86
https://scan.brc-20.io/index?address=bc1pdgzjfwlm52ghylpqd0am384k4uf75v002gfrhfkcnjcd0r0z79nqsp3t66


https://mempool.space/tx/47c44058bd770508f6f93864342020caeecc804f6f06204944a58ae9cab13cb6
https://scan.brc-20.io/index?address=bc1psyagz7lgr7zraac4ck8n0xrfejxka59262mfs9745dcgfkxjxz5st4f829


https://mempool.space/tx/7d2c3577250b452deb8c38f6881e8dd4dc9705c06d94370d5d11bdf8d43e3abc
https://scan.brc-20.io/index?address=bc1p0h74a5yq5v33x4det366jxvs5afvkzw592maeqdrpneld9h0amfs4la4wa


if you want to check another address then just use this https://brc-20.io/ or this one https://unisat.io/brc20

Is there an explorer that would show that the linked transactions are indeed linked to BRC-20?

I think it's because of BRC-20 that was created on the bitcoin blockchain even the total market cap for all brc-20 tokens has increased 2x/3x from last week when I visit that website.
i read in this article that the total transaction on May 1 are already over 2m with generating over 109 btc in transaction fees https://azcoinnews.com/brc-20-transactions-reach-new-ath-on-bitcoin-network.html

Have you had a look at the transactions I linked? They are only ~330 bytes in size, so I don't see how they have anything to do with inscriptions.