Topic: Mempool full? Long transaction times + fees x10! - page 4. (Read 1219 times)

Well it is obviously a solution but it is definitely not a practical solution if you just want to send a small tip to somebody. What would really solve this matter would be a bigger block size. If people forgot satoshi even specifically stated that the block size should be increased in the future!

Well, he wanted to use LN which is offchain. It wasn't my idea, it was his. I'm providing an actionable solution to an easily solvable problem. What you are offering is just more opinions and complaints which doesn't actually help solve anything.

That doesn't truly change the fact that it's ANNOYING, and the fees are more than what they were before Ordinals, doesn't it? I don't want to offend anyone who develops NFT projects, and/or collects/trades NFTs, but you told Artemis3 to move his transactions offchain. The same can be adviced for those dick pics and fart sounds in the blockchain, so in my personal opinion, move them offchain.

If you were just trying to receive a tip, you could have opened up a custodial LN wallet and then transferred it to yourself later.

There's always solutions to problems caused by "high fees." Seems like people would just rather complain than consider them.

The weirdest is when people believe their complaints actually have some sort of effect on the situation.

he says he's going to mint 5400 for series 3. i wonder if he's putting that on bitcoin or ethereum 

Yeah, I'm still waiting for the lightning channel; no tip for me today, thanks spammers.

Yeah, thanks god I'm free and no longer depend on a banker guy. Now I have to wait when a 15 yo acne-covered teen sitting in his parents basement gets tired of creating gazillions of monkey pics (or even worse, something like this: https://www.cryptodickbutts.com/) and lets me push my tx at only x10 the price I used to pay before this madness started! I guess I should be grateful! 

Whenever i do make out some transactions then i do always look at on mempool.space just like on what most members or posters on this thread which it is really just that right.You could really be able
to find out on what are the suggested fees (sat/byte) which you would use whether you do like it for it to be included on next block or into the next one or something like that.
Of course we cant really be able to know on how far it would goes considering that miners would be always prioritizing into those people who do put up huge fees compared
to those who had just put up 1sat/byte. 

I did a 14 sat/b tx to fund a lightning channel, that was hours ago just to receive some tip... So much for instant payments. Sure once opened it should work that way, but here is another real world example of letting spammers run rampant.

These days I noticed that there was a jump on the number of unconfirmed transactions in the mempool as well.
It catches my attention because it seems that after that sudden increase the number of transactions has done nothing but increase in a steady lineal pace.

Is there a chance some ill-intended actor is already spamming with network with the sole purpose of halting non-ordinal transactions?
Because, I feel it is quite unlikely this is a normal behavior.

I could be wrong, though.

Yes, a bit after that post, the spam increased:



Since the beginning we have been warning that leaving this abuse/exploit alone and do nothing can only lead to a repeat of 2018 or worse... But they don't listen. Worse, certain self proclaimed miner with an elite attitude ridicule us in the dev discussion thread.

Why? because they know spamming works, it makes them money, so they will push it. More spam, less and slower actual transactions, the spam must go on, they don't want bitcoin, but bitasset, and help promote their altcoin which the leading spam pool is spearheading, yadda yadda.

They simply found a sustainable way to damage Bitcoin and are executing it.
And of course, other spammers are joining, they want a cut of the pie too...

Yeah, I usually use mempool.space to figure out the best fee. and after reading your post it's crazy that you are using 1 sat/byte.

I always use above 15 sat/byte even tho Im using segwit address to make transactions. I hear there is Layer 2 on bitcoin network called stack and its hype right now. and bitcoin only 1 MB per block that drives the fee going crazy.

at the time i write there is 60K transaction unconfirmed


the best right now is using above 20sat to get fast confirmation or using Fee bumped if the transaction is already broadcasted.

There are many mempools and each of them can set their own (different) times to drop unconfirmed transactions. 14 days is likely a common default settings for mempools but not all of them use that parameter.

14 days is estimated from retarget algorithm of difficulty after each 2016 blocks. With average block time is 10 minutes, it takes about 14 days to have one difficult retarget.

Similar to trading as we can use default parameter for many indicators which give us default parameter at 14 but we can customize it if we want.

I think it depends on the configuration of the node which the transaction was broadcast to, if you check this webpage:

https://jochen-hoenicke.de/queue/#BTC,24h,weight

You can see that Bitcoin was two buttons or options, BTC and BTC(Default).
The default configuration of the Bitcoin client seems to admit a maximum size for the mempool of 300 MB, before it starts to purge transactions which have stayed unconfirmed around 14 days in the mempool limbo. 

If anyone has a better explanation, feel free to correct me. 

A censorship resistant,  borderless, permitionless and pseudo anonymous is still very cheap even when the mempool is full and the price is higher than 20/30 sat/vbyte.

Try to make a swift and wait for 4-5 business day after the bank authorization

Luckily most wallets would have the option to bump the fee and push the transaction through.

I'm surprised that yours hasn't been rejected after 6 days. Can anyone explain how/when low-fee transactions get rejected from the mempool? I don't suppose there's a fixed time, but probably more of new transactions pushing out the old ones when the mempool is full etc? Or will most wallets keep re-broadcasting it until it gets confirmed?

I have been "trying" to push through a small non-crucial transaction for 2$ at a fee rate of 1 sat/vbyte. I think it has been like 6 days already. 
I am already missing those nights I could send the cheapest as possible without having to worry about getting my stuff rejected. 
Alas, one truly does not know what one has, until one loses it.

Not gonna lie, I am feeling quite tempted to diversify my portfolio with some Litecoin in order to cope with this, until gets more bearable (assuming it won't get worse, though).

I fear it's actually much more than that. I've sent ~$70 earlier today and paid ~$1.30 in fees (10 or 11 sat/b I don't remember precisely) and guess what? The transaction hasn't been confirmed yet! I paid 1 sat/b for similar tx before the ordinals were launched. I feel like I'm actually sponsoring some teen creating zillions of monkey pics hoping to get rich quick. 

4 sat/b is currently the bottom for transactions and what used to take 1 now takes 10 just like the thread title says. And yeah there is a pool involved in the spam. Will others join the spam fest to make Bitcoin look bad and promote their tokens alt networks as the "solution"? Mine for spam?

another game at play is the mempool utility
by having these 4mb bloat tx. where it only requires 75 bloat tx in mempool to then push out normal tx from being stored in mempools of normal nodes.. thus pushing the fee up of the remaining tx that get allowed to stay in mempools

yep a mempool ends up having at extremes just 75 pending transactions of 4mb each

..
think about it this way

legacy tx of 1in 2out is ~226bytes
meaning a mempool can have ~1.3m tx waiting
vs the extreme of only 75 memes with no normal tx waiting..

but both instances being 300mb waiting

..
also due to the meme spam of a 4mb tx not counting the spam(witness) as premium fee
EG if filling 4mb (4000000bytes) they should pay 4000000sats(0.04btc($1k)) as a minimum of 1sat/byte
but they are not paying $1k minimums. they are paying alot less than 1sat/byte thus under $1k if it was 4mb

emphasis again:
due to the cludgy code of cores decision of how core wants to count bytes
these memes appear are premium to stay in mempools.. and so outclass normal transactions paying more then 1sat/byte.. but reality is they are paying less than 1 sat/byte

heres one example
while mempools are trimming transactions below 5sat/byte at the moment(mempools of 300mb limit)
heres a tx that is 0.5sat/byte
https://www.blockchain.com/explorer/transactions/btc/df1d11d12d703bc3187407843bd82db684182cdccf2b156c7ce3d29b492154cc
that has been sitting in the mempools(of higher storage) for 6 days (since the 8th of march)
and found its way into a block

meaning this one tx has been aiding in keeping out hundreds of thousands of normal tx from remaining in mempools of normal nodes

thus although real world the spammy memes pay less than 1sat per byte. they are kept in mempools and normal payments of more then 1sat per byte get trimmed out of mempools when mempools get full