Mempool has doubled in the last 8 hours

HashFace

full member

Activity: 406

Merit: 114

Quote from: scottykarate on November 21, 2017, 11:06:31 AM

I think the majority of folks on here on hodlers. Mempool doesn't matter to many and there's a multi faceted plan to make transactions faster.
Mining power can be moved and replaced and with all of the creative developers, some sort of plan is likely in the works.

I think we are in a "fox gardening the hen house" type situation here. Miners have to vote for changes, and miners are making a fortune off the very high fees that come from the congested network. Definetly a problem that Satoshi may not have envisioned.

Lancusters

sr. member

Activity: 630

Merit: 263

I have no problems with completing transactions. Maybe it's trying again to undermine the situation but I don't see any consequences. It seems to me that all the efforts of the miners will be in vain. Even if the price of bitcoin will begin to decline they reach the desired result. We have seen many such attacks.

iram1011

hero member

Activity: 896

Merit: 521

Nothing new!

This has became frequent now. Just some weeks back because of Jihan Wu BCH pump. Miners are heavily playing with the Bitcoin for their own selfish goal. All what they want is profit. Recently we saw many such attempts where mempool increased drastically all because of miners manipulation or shifting of hashrate. But sooner or later everything goes back to normal.

HasHe

hero member

Activity: 952

Merit: 500

Quote from: freightjoe on November 22, 2017, 03:12:53 AM

Quote from: hv_ on November 22, 2017, 03:09:12 AM

Quote from: freightjoe on November 22, 2017, 03:04:03 AM

Quote from: hv_ on November 22, 2017, 03:01:32 AM

Quote from: freightjoe on November 22, 2017, 02:57:59 AM

Quote from: hv_ on November 22, 2017, 02:55:45 AM

Quote from: Kakmakr on November 22, 2017, 02:50:29 AM

... We have reached consensus to use SegWit and now nobody wants to use it. ...

Do you know what consensus really is ?

I do not want SW as well Wink

And here we see exactly why the Bitcoin experiment was always doomed to fail. Once a lot of money gets involved too many people have different agendas and a consensus/democratic approach will always fail. There is a reason why successful companies such as Amazon, Microsoft, Apple, Tesla etc are not democracies but firmly run by a single individual who forces his vision upon the company.

there is open competition now - one single coin can fail

It is not competition. It is an internal civil war with people trying to promote whichever agenda they stand to profit the most from

Nobody gets killed - its hard competition.

It is not competition, it is destructive fragmentation which is at the core of Bitcoin

The miners and bitcoin antichrist Roger ver have tried their best to modify bitcoin as they wish which would best suit their interests,but poor guys they are not able to succeed completely and that's the uniqueness of bitcoin.Disappointment and frustration would be the end result for them.

TheQuin

hero member

Activity: 2576

Merit: 883

Freebitco.in Support https://bit.ly/2I9BVS2

Quote from: ?? on ??

Can you please enlighten me on the general plan to make transactions faster and cheaper? I've been looking out for it, but there isn't much.

Moving transactions off-chain with Lightning Network.
https://cointelegraph.com/explained/lightning-network-explained

Quote from: freightjoe on November 21, 2017, 07:51:11 AM

In just 8 hours this morning the mempool has doubled - seems we are agin heading towards the miners wanting to drastically increase prices.

Also we saw this pattern when there was the civil war with Bitcoin cash

Just to put that doubling of the mempool in perspective compared to what happens when a large amount of mining hashpower switches to mining BCH take a look at the chart of the mempool below. Now that BCH has changed its difficulty algorithm we will not get periods of 4 days or more, like we did the weekend before last, when BTC is on reduced hashpower. What happened this morning was just good old-fashioned variance of luck that has always been part of mining. A bit of bad luck just means a few hours with less than 6 blocks/hr, when the average is around 6 the mempool clears out.

Tadblt

member

Activity: 75

Merit: 10

Quote from: freightjoe on November 21, 2017, 07:51:11 AM

In just 8 hours this morning the mempool has doubled - seems we are agin heading towards the miners wanting to drastically increase prices.

Also we saw this pattern when there was the civil war with Bitcoin cash

There will be more attacks in the coming future, another fork another low amount transactions attacking the network.
Typical tyrant wanting to control the bitcoin, just relax and after the war all transactions will like go smoothly.
If there was an attack i always switch to Ether then get back as soon as the traffic fades.

Agostosmori

member

Activity: 112

Merit: 10

Quote from: scottykarate on November 21, 2017, 11:06:31 AM

I think the majority of folks on here on hodlers. Mempool doesn't matter to many and there's a multi faceted plan to make transactions faster.
Mining power can be moved and replaced and with all of the creative developers, some sort of plan is likely in the works.

Transaction spike is somehow a good sign that more and more people are trading bitcoin and will result to a higher price. It may be a result of people converting from one crypto to bitcoin or even from fiat to bitcoin that caused the transaction volume to go high.

Jet Cash

legendary

Activity: 2814

Merit: 2472

https://JetCash.com

Quote from: freightjoe on November 22, 2017, 01:36:29 AM

...right...unicorns and pixies will ride in to the rescue....

Unicorns are treacherous creatures created by man to lead free horses into captivity. We seem to have quite a few of those trying to destroy or take control of Bitcoin.

hv_

legendary

Activity: 2534

Merit: 1055

Clean Code and Scale

Quote from: freightjoe on November 22, 2017, 04:30:25 AM

Quote from: CryptosapienZA on November 22, 2017, 04:27:04 AM

Quote from: Kakmakr on November 22, 2017, 02:50:29 AM

You are not looking hard enough. Start using SegWit addresses and you will see a significant drop in the fees. We have reached consensus to use SegWit and now nobody wants to use it. The spammers are not focusing their sabotage on SegWit, because it is more expensive.

This will hopefully be a thing of the past, once the Lightning Network come into play. ^smile^

Lets let the numbers do the talking. Do the fees really drop? There has been instances where SEGWIT transactions have cost more

It is all a scam by the miners who know that now there are many small investors out there who have no choice but to accept their abuse of monopoly power

No proof?

In a payment network there are always spikes - related to different reasons. Price move, salary, black friday,..

Visa holds extra capacity for such events - bitcoin core ? No more !

Bottlenecks and high flow is called turbulence / chaos (known physics laws) and cannot be handled - sorry.

freightjoe

full member

Activity: 238

Merit: 109

Quote from: CryptosapienZA on November 22, 2017, 04:27:04 AM

Quote from: Kakmakr on November 22, 2017, 02:50:29 AM

You are not looking hard enough. Start using SegWit addresses and you will see a significant drop in the fees. We have reached consensus to use SegWit and now nobody wants to use it. The spammers are not focusing their sabotage on SegWit, because it is more expensive.

This will hopefully be a thing of the past, once the Lightning Network come into play. ^smile^

Lets let the numbers do the talking. Do the fees really drop? There has been instances where SEGWIT transactions have cost more

It is all a scam by the miners who know that now there are many small investors out there who have no choice but to accept their abuse of monopoly power

CryptosapienZA

full member

Activity: 378

Merit: 101

Quote from: Kakmakr on November 22, 2017, 02:50:29 AM

You are not looking hard enough. Start using SegWit addresses and you will see a significant drop in the fees. We have reached consensus to use SegWit and now nobody wants to use it. The spammers are not focusing their sabotage on SegWit, because it is more expensive.

This will hopefully be a thing of the past, once the Lightning Network come into play. ^smile^

Lets let the numbers do the talking. Do the fees really drop? There has been instances where SEGWIT transactions have cost more

freightjoe

full member

Activity: 238

Merit: 109

Quote from: Usine on November 22, 2017, 04:09:21 AM

Quote from: freightjoe on November 21, 2017, 07:51:11 AM

In just 8 hours this morning the mempool has doubled - seems we are agin heading towards the miners wanting to drastically increase prices.

Also we saw this pattern when there was the civil war with Bitcoin cash

When we saw the civil war with Bitcoin cash?

Yes

Usine

newbie

Activity: 28

Merit: 0

Quote from: freightjoe on November 21, 2017, 07:51:11 AM

In just 8 hours this morning the mempool has doubled - seems we are agin heading towards the miners wanting to drastically increase prices.

Also we saw this pattern when there was the civil war with Bitcoin cash

When we saw the civil war with Bitcoin cash?

hv_

legendary

Activity: 2534

Merit: 1055

Clean Code and Scale

Quote from: freightjoe on November 22, 2017, 03:12:53 AM

Quote from: hv_ on November 22, 2017, 03:09:12 AM

Quote from: freightjoe on November 22, 2017, 03:04:03 AM

Quote from: hv_ on November 22, 2017, 03:01:32 AM

Quote from: freightjoe on November 22, 2017, 02:57:59 AM

Quote from: hv_ on November 22, 2017, 02:55:45 AM

Quote from: Kakmakr on November 22, 2017, 02:50:29 AM

... We have reached consensus to use SegWit and now nobody wants to use it. ...

Do you know what consensus really is ?

I do not want SW as well Wink

And here we see exactly why the Bitcoin experiment was always doomed to fail. Once a lot of money gets involved too many people have different agendas and a consensus/democratic approach will always fail. There is a reason why successful companies such as Amazon, Microsoft, Apple, Tesla etc are not democracies but firmly run by a single individual who forces his vision upon the company.

there is open competition now - one single coin can fail

It is not competition. It is an internal civil war with people trying to promote whichever agenda they stand to profit the most from

Nobody gets killed - its hard competition.

It is not competition, it is destructive fragmentation which is at the core of Bitcoin

this ?

https://www.reddit.com/r/btc/comments/7eil12/evidence_that_the_mods_of_rbitcoin_may_have_been/

ArtPt

member

Activity: 61

Merit: 10

That's okay. It shows real usage of BTC by lots of people. Probably you should not expect to have very cheap dust transactions anyway if BTC is positioned as "Digital Gold". There are so many good projects to have Cash-like transactions (that's not about BCH, because it is same technology as BTC).

freightjoe

full member

Activity: 238

Merit: 109

Quote from: Minerjoe on November 22, 2017, 03:20:27 AM

We need a period of calm see for at least 6 months.

you do realize that the seas will not be calmer going forward, but instead the waves are getting higher?

Minerjoe

sr. member

Activity: 406

Merit: 250

It has decreased since, what s the problem now?

These peaks are an issue but I do not see that as something that drastic. Some form of scaling will be necessary, just not now. We need a period of calm see for at least 6 months.

freightjoe

full member

Activity: 238

Merit: 109

Quote from: hv_ on November 22, 2017, 03:09:12 AM

Quote from: freightjoe on November 22, 2017, 03:04:03 AM

Quote from: hv_ on November 22, 2017, 03:01:32 AM

Quote from: freightjoe on November 22, 2017, 02:57:59 AM

Quote from: hv_ on November 22, 2017, 02:55:45 AM

Quote from: Kakmakr on November 22, 2017, 02:50:29 AM

... We have reached consensus to use SegWit and now nobody wants to use it. ...

Do you know what consensus really is ?

I do not want SW as well Wink

And here we see exactly why the Bitcoin experiment was always doomed to fail. Once a lot of money gets involved too many people have different agendas and a consensus/democratic approach will always fail. There is a reason why successful companies such as Amazon, Microsoft, Apple, Tesla etc are not democracies but firmly run by a single individual who forces his vision upon the company.

there is open competition now - one single coin can fail

It is not competition. It is an internal civil war with people trying to promote whichever agenda they stand to profit the most from

Nobody gets killed - its hard competition.

It is not competition, it is destructive fragmentation which is at the core of Bitcoin

hv_

legendary

Activity: 2534

Merit: 1055

Clean Code and Scale

Quote from: freightjoe on November 22, 2017, 03:04:03 AM

Quote from: hv_ on November 22, 2017, 03:01:32 AM

Quote from: freightjoe on November 22, 2017, 02:57:59 AM

Quote from: hv_ on November 22, 2017, 02:55:45 AM

Quote from: Kakmakr on November 22, 2017, 02:50:29 AM

... We have reached consensus to use SegWit and now nobody wants to use it. ...

Do you know what consensus really is ?

I do not want SW as well Wink

And here we see exactly why the Bitcoin experiment was always doomed to fail. Once a lot of money gets involved too many people have different agendas and a consensus/democratic approach will always fail. There is a reason why successful companies such as Amazon, Microsoft, Apple, Tesla etc are not democracies but firmly run by a single individual who forces his vision upon the company.

there is open competition now - one single coin can fail

It is not competition. It is an internal civil war with people trying to promote whichever agenda they stand to profit the most from

Nobody gets killed - its hard competition.

freightjoe

full member

Activity: 238

Merit: 109

Quote from: hv_ on November 22, 2017, 03:01:32 AM

Quote from: freightjoe on November 22, 2017, 02:57:59 AM

Quote from: hv_ on November 22, 2017, 02:55:45 AM

Quote from: Kakmakr on November 22, 2017, 02:50:29 AM

... We have reached consensus to use SegWit and now nobody wants to use it. ...

Do you know what consensus really is ?

I do not want SW as well Wink

And here we see exactly why the Bitcoin experiment was always doomed to fail. Once a lot of money gets involved too many people have different agendas and a consensus/democratic approach will always fail. There is a reason why successful companies such as Amazon, Microsoft, Apple, Tesla etc are not democracies but firmly run by a single individual who forces his vision upon the company.

there is open competition now - one single coin can fail

It is not competition. It is an internal civil war with people trying to promote whichever agenda they stand to profit the most from

Topic: Mempool has doubled in the last 8 hours (Read 517 times)