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Topic: Mempool Observer Topic - page 2. (Read 20218 times)

legendary
Activity: 4410
Merit: 4766
November 15, 2024, 06:49:27 PM
Personally, I don't like high fees too, but technically what could we actually do but wait for demand for block space to go down?

aww, the guy that joined the adoration of bloat brigade and the use subnetwork instead army, and supported his forum daddy in saying dont do anything about the bloat and let things pass unvalidated because high fees are a needed feature.., is now whinging that he has no clue what can be done to allow more transaction throughput, and to lower the fees, even though i been telling him for years exactly what can be done

so here is a gentle reminder:
1. make transactions leaner, where every byte counts and has a ruled purpose, with no validation bypasses to allow additional junk
2. change the landscape of whats allowed in a fully accessible 4mb block, instead of the 1mb:3mb wall segregation
3. SCALE(not leap) to a next size up of blockspace.. emphasis on SCALE not his forum daddy's story of leaping

if he wants to continue arguing that fee's are needed as a supplement to block rewards any time soon(next 20 years) then he really needs to look at what bitcoin is and realise even this week he is experiencing bitcoins deflationary nature which take care of the increasing costs of things like mining profitability, and many cycles(many 4 year periods) will continue this process for many cycles before fee's become significant need. and ontop of that having more transactions would allow block cumulative fee total to be substantial compared to limiting transaction counts so far to cause individual users to pay more

Personally, I don't like high fees too, but technically what could we actually do but wait for demand for block space to go down?

--Snip--


I forgot that what we could do is also FUD, gaslight, and spread disinformation to convince everyone who would listen that the Core Developers are deliberately keeping the blocks small because "reasons".

 Roll Eyes

What ALL users of BitcoinTalk should simply do is read your trust-rating. You tricked many plebs like me before, and you will never trick us again frankandbeans.

oh the fud/misinformation which gmax told you i was spreading..
you mean the factual information i started from 2016 about how core were introducing a cludgy, rushed new set of transaction formats(segwits new subset of opcodes and lack of rules) that miscounted bytes, ignored bytes and bypassed validating bytes, where by it would allow junk data and people to publish 4mb of anything like books or images to the blockchain.. and even till 2019 gmax said what i was saying was a lie and segwit was not a bug... yet we all see now that the ordinal meme junk is real and proves my point... but hey you dont actually care about bugs and fixes, you just want to act like a victim and pretend there is no way to solve problems, suggesting people should put up with it and wait(stop using bitcoin) or use another network.

still is funny how you call it mis information to defend cores action, when ordinals meme junk exists in public and is undeniable, yet you still pretend what i said would happen didnt happen.. maybe try to learn about bitcoin and not learn what a core dev wants you to be a loyal faithful follower of, even if that religion goes against bitcoin immutable data
copper member
Activity: 322
Merit: 21
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
November 15, 2024, 05:59:42 PM
     
  • fastestFee: 11 sat/vB
  • halfHourFee: 9 sat/vB
  • hourFee: 7 sat/vB
  • economyFee: 4 sat/vB
  • minimumFee: 2 sat/vB
legendary
Activity: 2898
Merit: 1823
November 15, 2024, 11:29:46 AM
Fees currently are 120 sat/vB.

  👀

It's probably nothing if it goes back to 5 sat/vB, but if it continues to be that high, we'll definitely see some complaints that Ordinals/Runes are exploits that should never happen in the Bitcoin blockchain because of "reasons". Personally, I don't like high fees too, but technically what could we actually do but wait for demand for block space to go down?
copper member
Activity: 322
Merit: 21
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
November 15, 2024, 10:00:02 AM
      Smiley
  • fastestFee: 5 sat/vB
  • halfHourFee: 5 sat/vB
  • hourFee: 5 sat/vB
  • economyFee: 2 sat/vB
  • minimumFee: 1 sat/vB
copper member
Activity: 322
Merit: 21
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
November 15, 2024, 01:59:41 AM
      Smiley
  • fastestFee: 7 sat/vB
  • halfHourFee: 6 sat/vB
  • hourFee: 6 sat/vB
  • economyFee: 4 sat/vB
  • minimumFee: 2 sat/vB
copper member
Activity: 322
Merit: 21
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
November 14, 2024, 05:59:42 PM
     
  • fastestFee: 19 sat/vB
  • halfHourFee: 18 sat/vB
  • hourFee: 17 sat/vB
  • economyFee: 4 sat/vB
  • minimumFee: 2 sat/vB
legendary
Activity: 2898
Merit: 1823
November 14, 2024, 11:45:42 AM
Wow, never seen fees so low while the price of BTC is so high.


The number of unconfirmed transactions is still normal around < 300,000 TXs so I think a lot of traders still think that the price of Bitcoin is still low enough to sell. Also there are no runes Mint nearby and few coinjoin transactions so the spam has not started yet.


Although, Runes trading in MagicEden have increased a little in units of Bitcoin. It's small, but it's still noticeable. Transaction fees are currently "OK" with an average fee of 15 sat/vB for the next block.

I believe the complaints will start coming if fees surge to 50 sat/vB when shitcoining in Bitcoin through Runes/Ordinals start to become more "popular" again. But its "popularity" will probably be short, a mere few weeks.
copper member
Activity: 322
Merit: 21
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
November 14, 2024, 09:59:41 AM
     
  • fastestFee: 17 sat/vB
  • halfHourFee: 15 sat/vB
  • hourFee: 13 sat/vB
  • economyFee: 4 sat/vB
  • minimumFee: 2 sat/vB
copper member
Activity: 322
Merit: 21
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
November 14, 2024, 01:59:42 AM
     
  • fastestFee: 14 sat/vB
  • halfHourFee: 12 sat/vB
  • hourFee: 10 sat/vB
  • economyFee: 4 sat/vB
  • minimumFee: 2 sat/vB
copper member
Activity: 322
Merit: 21
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
November 13, 2024, 05:59:42 PM
     
  • fastestFee: 31 sat/vB
  • halfHourFee: 27 sat/vB
  • hourFee: 23 sat/vB
  • economyFee: 4 sat/vB
  • minimumFee: 2 sat/vB
copper member
Activity: 322
Merit: 21
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
November 13, 2024, 09:59:42 AM
     
  • fastestFee: 15 sat/vB
  • halfHourFee: 13 sat/vB
  • hourFee: 11 sat/vB
  • economyFee: 4 sat/vB
  • minimumFee: 2 sat/vB
legendary
Activity: 2688
Merit: 3983
November 13, 2024, 02:27:11 AM
Wow, never seen fees so low while the price of BTC is so high.
The number of unconfirmed transactions is still normal around < 300,000 TXs so I think a lot of traders still think that the price of Bitcoin is still low enough to sell. Also there are no runes Mint nearby and few coinjoin transactions so the spam has not started yet.
copper member
Activity: 322
Merit: 21
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
November 13, 2024, 01:59:42 AM
      Smiley
  • fastestFee: 7 sat/vB
  • halfHourFee: 7 sat/vB
  • hourFee: 6 sat/vB
  • economyFee: 4 sat/vB
  • minimumFee: 2 sat/vB
legendary
Activity: 3010
Merit: 8114
November 12, 2024, 07:17:02 PM
Wow, never seen fees so low while the price of BTC is so high.

This is pretty much undeniable proof the core devs have collectively done a great job as custodians of the Bitcoin code base.

All the "woulda/coulda done this/that different" crowds should finally shut up now.
copper member
Activity: 322
Merit: 21
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
November 12, 2024, 05:59:42 PM
      Smiley
  • fastestFee: 3 sat/vB
  • halfHourFee: 3 sat/vB
  • hourFee: 3 sat/vB
  • economyFee: 3 sat/vB
  • minimumFee: 2 sat/vB
copper member
Activity: 322
Merit: 21
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
November 12, 2024, 10:00:43 AM
     
  • fastestFee: 20 sat/vB
  • halfHourFee: 19 sat/vB
  • hourFee: 17 sat/vB
  • economyFee: 4 sat/vB
  • minimumFee: 2 sat/vB
copper member
Activity: 322
Merit: 21
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
November 12, 2024, 02:00:43 AM
      Smiley
  • fastestFee: 6 sat/vB
  • halfHourFee: 5 sat/vB
  • hourFee: 5 sat/vB
  • economyFee: 4 sat/vB
  • minimumFee: 2 sat/vB
copper member
Activity: 322
Merit: 21
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
November 11, 2024, 05:59:42 PM
      Smiley
  • fastestFee: 9 sat/vB
  • halfHourFee: 8 sat/vB
  • hourFee: 7 sat/vB
  • economyFee: 4 sat/vB
  • minimumFee: 2 sat/vB
copper member
Activity: 322
Merit: 21
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
November 11, 2024, 09:59:43 AM
      Smiley
  • fastestFee: 6 sat/vB
  • halfHourFee: 6 sat/vB
  • hourFee: 6 sat/vB
  • economyFee: 4 sat/vB
  • minimumFee: 2 sat/vB
copper member
Activity: 322
Merit: 21
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
November 11, 2024, 01:59:43 AM
      Smiley
  • fastestFee: 7 sat/vB
  • halfHourFee: 7 sat/vB
  • hourFee: 6 sat/vB
  • economyFee: 2 sat/vB
  • minimumFee: 1 sat/vB
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