Pages:
Author

Topic: Mempool Observer Topic - page 63. (Read 16434 times)

legendary
Activity: 2898
Merit: 1823
January 02, 2024, 06:12:35 AM

But isn't there a non-zero chance that it would also open more opportunities for some entities to send larger payloads of "spam" per block and store them in the Bitcoin blockchain?


That's exactly the reason we need to decrease the blocksize to 100 kb to kill all possible spam!  Wink


But what assurances would a block size increase truly give the network that it wouldn't suffer the same kind of congestion that it's currently experiencing? What it might do is encourage Ordinals users/developers to embed larger data sizes in the Bitcoin blockchain.


Plus Dogecoin and every other major altcoin don't give the same security assurances as Bitcoin. Solana I believe, during the last bull cycle, stopped producing blocks for hours because of network congestion. That should never happen to Bitcoin.


It happens more often than you think, just a quick heads-up since this is mainly a topic about the state of the mempool, block 823575 was 34 minutes late:



Happy 2024 oh wait 374sat/vb!


No what happened to Solana was different, Bitcoin never stopped producing blocks.

Furthermore, I know the high fees are annoying, but it's how the network was designed with the regulated block sizes and the fee market.
legendary
Activity: 4270
Merit: 4534
January 01, 2024, 09:01:44 AM
in crypto
full nodes offer full services.. emphasis on the word full

other nodes with certain services disabled, switched off are not full.. but if you want to use the pronunciation word to describe pruned nodes. call the fool nodes
legendary
Activity: 3010
Merit: 8114
January 01, 2024, 07:32:42 AM
Even if faketoshi stepped out now, it's far too late since the damage has been done. And Etheruem would be somewhat better example since it has 16.5TB storage usage[1], but with 7.3K node running[2]. Although node number is rather high since Ethereum use PoS.

For Ethereum, full nodes and archive nodes are distinct kinds of nodes. Full nodes are heavily pruned and only require the last 128 blocks of data to be stored. They represent the overwhelming majority of nodes counted on the Etherscan nodetracker page. Archival nodes, as the name implies, comprise the entire historical chain state and number between 4 and 12 in total.

Its actually not a problem if the archive node count dropped to zero; the entire chain state history could be extrapolated from the last 128 blocks of data, which is about 308 GB, and a new archival node spun up. Apparently this takes at least a month to accomplish, however.

https://www.alchemy.com/overviews/archive-nodes
legendary
Activity: 2870
Merit: 7490
Crypto Swap Exchange
January 01, 2024, 05:26:02 AM
BSV is poor example of big block size. It's doomed to failed since it's associated with faketoshi, don't care about cost/difficulty of running full node[1] where many decide to drop support[2] and even implement confiscation stealing mechanism[4].
All the Faketoshi stuff aside, its blockchain is approaching 10 terabytes and is supported by less than 100 nodes. One mining pool dominates with 54% of the hash rate. There couldn't be a clearer picture of why large blockchains leads to centralization. You can say, "ah but nobody wants to run a coin led by Faketoshi," and you'd be right, but even if he stepped out of the picture completely, I sincerely doubt things would be any different.

Even if faketoshi stepped out now, it's far too late since the damage has been done. And Etheruem would be somewhat better example since it has 16.5TB storage usage[1], but with 7.3K node running[2]. Although node number is rather high since Ethereum use PoS.

[1] https://etherscan.io/chartsync/chainarchive
[2] https://goto.etherscan.com/nodetracker
hero member
Activity: 462
Merit: 767
Instant cryptocurrency exchange with own reserves!
January 01, 2024, 04:23:42 AM
That's a perfect idea. If @bitmover wants, he can create this account, otherwise I could make a new account and set a cronjob to just post with this API once per hour.

Actually, the Idea came from the OP where Stompix already said;
Maybe we can get one of the AI here with all their tricks and coding skillzzz to make a fee buddy!  Grin Grin
So, till then let's start:

I thought it was for fun. I didn't remember about bitmover's bitcoindata.science until he posted the "fee" image. So, I thought, why not? So, the Thanks should go to stompix.

Where would I post it? Here or in wo?

I also suggest posting it here Smiley

And we're going to have the few miner around here cheering every time Feebudy goes up and disgustingly licking our fingers full of fudge thinking of those fees!  Grin
This probably was my dream before I realized I have not a single input worth $300 in my spending wallet so I'm going to use....

Well, I don't know many miners except phillipma. We might see him around. Imagine this thread becomes a mega thread, and you have to create a self-moderated thread because of spammers! The signature campaign will exclude this thread from posting. LOL. I can see the future already.
legendary
Activity: 2352
Merit: 6089
bitcoindata.science
December 31, 2023, 04:13:15 PM
Where would I post it? Here or in wo?

~
Just add the parameter bold to any of my api to show in bold font

You can also change colors. Just take a look at documentation
https://bitcoindata.science/bitcointalk-api.html

Nice.

I don't think WO people are interested in fees, most of them have huge stashes anyway, so probably here.

I think I will need to create an api to show fees not in real time, but in the time it was posted.

Otherwise it won't make sense to post every hour...
legendary
Activity: 1568
Merit: 6660
bitcoincleanup.com / bitmixlist.org
December 31, 2023, 10:53:07 AM
Where would I post it? Here or in wo?

~
Just add the parameter bold to any of my api to show in bold font

You can also change colors. Just take a look at documentation
https://bitcoindata.science/bitcointalk-api.html

Nice.

I don't think WO people are interested in fees, most of them have huge stashes anyway, so probably here.
legendary
Activity: 2912
Merit: 6403
Blackjack.fun
December 31, 2023, 10:09:28 AM
I get the character of the topic, and I really like your sarcasm.

Well, appreciated, most around don't feel like that, they take it like a declaration of war!


I'm unable to connect to my server right now so I'm not able to get any data from my node, question to the guys running one a default 300MB, is the number accurate? I changed that months ago and I know it broke though over 1GB weeks ago but that much in purging?
A little late, but this is mempool from my end: https://talkimg.com/images/2023/12/31/IWaRv.png.

I managed to get ahold of mine somewhere around 4 or 5 am, god knows what time was it, switched back to the default and after half an hour it was purging around 40sat/b probably only to get worse as it was connecting to more and more , I just switched back to x10 the value and shows 1.45GB, just lol!

What the f*** is wrong with some, it's 31st for god's sake!

How about creating an account named Fee Buddy and posting it once an hour just like ChartBuddy? and then someone like phillipma will join the thread to stay above FeeBuddy!

And we're going to have the few miner around here cheering every time Feebudy goes up and disgustingly licking our fingers full of fudge thinking of those fees!  Grin
This probably was my dream before I realized I have not a single input worth $300 in my spending wallet so I'm going to use....visa....to pay my bill.

Yesterday I was trying to move some BTC from my Electrum wallet to an exchange and Noticed that I could not even make the transaction with 50 sat/vB. I understand the fee is too high. But, there was a time when we were able to make 1 sat/vB transaction even though the recommended fee was over 10 sat/vB. Now, Electrum doesn't even allow us to make the transaction. Currently, the mempool purging transactions of <74 sat/vB. What a fucking day we are heading into.

Change your servers in the configuration, there are still plenty who use larger mempools and still accept 20sat/b, not that it would ever get confirmed but after that you have a shot with Viabtc.

LE at 6 pm, so my last look at the mempool for the year and this is how it looks:
Perfect natural organic traffic

and...I don't even know how to call shit bs

legendary
Activity: 2352
Merit: 6089
bitcoindata.science
December 31, 2023, 08:14:10 AM
How about creating an account named Fee Buddy and posting it once an hour just like ChartBuddy? and then someone like phillipma will join the thread to stay above FeeBuddy! Even though it's a funny idea, but it won't be bad.

That's a perfect idea. If @bitmover wants, he can create this account, otherwise I could make a new account and set a cronjob to just post with this API once per hour.

However, the font is difficult to read. It would be better if it used a bold font or was a bit larger.

Where would I post it? Here or in wo?

Here you go  bigger and in bold




Just add the parameter bold to any of my api to show in bold font

You can also change colors. Just take a look at documentation
https://bitcoindata.science/bitcointalk-api.html
legendary
Activity: 1568
Merit: 6660
bitcoincleanup.com / bitmixlist.org
December 31, 2023, 05:18:35 AM
I made this api some time ago, which always shows recommended fees.
Data from mempool.space



It will fit  this topic about high fees Cheesy

How about creating an account named Fee Buddy and posting it once an hour just like ChartBuddy? and then someone like phillipma will join the thread to stay above FeeBuddy! Even though it's a funny idea, but it won't be bad.

That's a perfect idea. If @bitmover wants, he can create this account, otherwise I could make a new account and set a cronjob to just post with this API once per hour.

However, the font is difficult to read. It would be better if it used a bold font or was a bit larger.
hero member
Activity: 462
Merit: 767
Instant cryptocurrency exchange with own reserves!
December 31, 2023, 04:37:55 AM
I made this api some time ago, which always shows recommended fees.
Data from mempool.space



It will fit  this topic about high fees Cheesy

How about creating an account named Fee Buddy and posting it once an hour just like ChartBuddy? and then someone like phillipma will join the thread to stay above FeeBuddy! Even though it's a funny idea, but it won't be bad.

Yesterday I was trying to move some BTC from my Electrum wallet to an exchange and Noticed that I could not even make the transaction with 50 sat/vB. I understand the fee is too high. But, there was a time when we were able to make 1 sat/vB transaction even though the recommended fee was over 10 sat/vB. Now, Electrum doesn't even allow us to make the transaction. Currently, the mempool purging transactions of <74 sat/vB. What a fucking day we are heading into.
legendary
Activity: 1512
Merit: 7340
Farewell, Leo
December 31, 2023, 04:29:00 AM
That's exactly the reason we need to decrease the blocksize to 100 kb to kill all possible spam!
I get the character of the topic, and I really like your sarcasm. But, no. Irony is not persuasive for change either.

I'm unable to connect to my server right now so I'm not able to get any data from my node, question to the guys running one a default 300MB, is the number accurate? I changed that months ago and I know it broke though over 1GB weeks ago but that much in purging?
A little late, but this is mempool from my end: https://talkimg.com/images/2023/12/31/IWaRv.png.

I am ONLY opposing the "If you don't like how things are with BTC, go use xyz" I am only against this particular stupid statement, why? because I think it's stupid
Why is it stupid? Because you don't want to trade your precious satoshis, that's why! An internal voice advises against trading your bitcoin for an altcoin. You know its utility isn't defined by the on-chain volume, but by the consensus of that scale. You know that intelligent individuals actively contribute to and research Bitcoin. You're doubting you can find this elsewhere.

You can however find high on-chain volume. If that's how you perceive utility, you should have migrated years now.
legendary
Activity: 4270
Merit: 4534
December 31, 2023, 12:58:36 AM
BSV is poor example of big block size. It's doomed to failed since it's associated with faketoshi, don't care about cost/difficulty of running full node[1] where many decide to drop support[2] and even implement confiscation stealing mechanism[4].

All the Faketoshi stuff aside, its blockchain is approaching 10 terabytes and is supported by less than 100 nodes. One mining pool dominates with 54% of the hash rate. There couldn't be a clearer picture of why large blockchains leads to centralization. You can say, "ah but nobody wants to run a coin led by Faketoshi," and you'd be right, but even if he stepped out of the picture completely, I sincerely doubt things would be any different.

as ETFbitcoin said using bsv as an example is a poor attempt..
first bsv has never been a viable real world use coin.. so users/nodes/mining were centralised from the start even before the data bloat

if you had an inbred offspring with disabilities. and then that offspring had an inbred offspring with further disabilities
you would then use the inbred malformaties to decide the future of your lineage. rather then learn from it and stop inbreding to cause disabled offspring. and instead fix the problem(inbreding/centralisation) to have healthy future lineage to carry on your legacy without junk dna in your bloodline

secondly the reason BSV is not a good example because its only 5 years old with 10tb meaning 2tb a year
no one on the entire planet is proposing blocks that result in 2tb a year. no discussion over the last 14 years have ever proposed bitcoin leap to 2tb a year growth
that strawman of "gigabyte blocks asap" is the empty argument of dev politics empty rebuttle to say "2gb a year LEAPS wont help so lets not even discuss SCALING at smaller adjustment"

the only reason dev politics want everyone to leave bitcoin and use subnetworks is for middle men fee's that the dev sponsors will earn to get ROI for sponsoring devs to create gateways to subnetworks

you sound like a scripted snake oil salesman. not someone that cares to make bitcoin useful for bitcoiners

the funny thing is because subnetworks have no blockchain nor network wide auditing/policy. those subnetworks could have designed their systems privately/independently in a multitude of ways that fit a niche utility/feature promise and still communicate with bitcoin.. they actually had alot more freedom to develop anything without needing to consider consensus/network readiness. because their subnetwork doesnt need such.. . yet the sponsored deals and arm twisting occured to change bitcoin, purely to promote a buggy subnetwork. rather then make a subnetwork that meets its niche promise to promote itself.. while leaving bitcoin devs to just concentrate on bitcoin features that benefit bitcoiner that want to use bitcoin

these buggy subnetworks are not the solution because they are buggy from the start and failed to fix issues over the last 6 years
yes new(yet to be made) subnetworks can facilitate niches for certain utility.. but promoting the current failed line up is a fools errand

lastly i do find it funny how in one sentence you pretend to be against bloat.. but in other sentences/posts you dont want the nonsense junk bloat to stop, and instead you want bitcoiners to stop being bitcoiners.. you are trying to censor bitcoiners off the network whilst defending the bloat junk

you prefer the junk to run on bitcoin and for bitcoiners to become subnetworkers (facepalm)
again you sound like a failed door to door salesman selling snake oil

you are not making any comments to preserve bitcoins utility. you sound like a subnetwork salesman that doesnt want bitcoin to be for bitcoiners

and dont bother even replying with the empty statement of "censorship" until you have done your research of core accepted buzzwords like
"drop" "eviction" "prune" "reject" "ban"...  and realise bitcoin DID have code to decide whats fit for the network and those rules WERE respected as it was good for the network... . and CORE did relax the rules to allow the junk exploit but now refuse to fix their error..
sr. member
Activity: 1022
Merit: 280
December 31, 2023, 12:45:54 AM
Yeah, the miners are getting huge rewards in the form of those high fees and they definitely should be loving to see those high fees, but they deserve to have those fees for their contribution in running of the Bitcoin network.


There are a handful of miners as compared to the users of Bitcoin who are suffering from these high fees at the moment. Today is Sunday and usually, the mempool should not be congested during the weekends but still, the mempool fee is around 200 vbyte/sat, which is on the higher side.

Most of the retailers and ordinary users are waiting for this high fee issue to be resolved and we can do our transactions at cheaper fees.
legendary
Activity: 3010
Merit: 8114
December 31, 2023, 12:09:51 AM
Quote
the point is, even bigger blocks isn't a good solution.

Really? Then why segwit? Why did blocks go from 1MB to 4MB if bigger blocks are a bad solution?

SegWit was necessary to make L2 solutions more viable, that's why. L2 is where the future of regular user transactions are headed, like it or not.

BSV is poor example of big block size. It's doomed to failed since it's associated with faketoshi, don't care about cost/difficulty of running full node[1] where many decide to drop support[2] and even implement confiscation stealing mechanism[4].

All the Faketoshi stuff aside, its blockchain is approaching 10 terabytes and is supported by less than 100 nodes. One mining pool dominates with 54% of the hash rate. There couldn't be a clearer picture of why large blockchains leads to centralization. You can say, "ah but nobody wants to run a coin led by Faketoshi," and you'd be right, but even if he stepped out of the picture completely, I sincerely doubt things would be any different.

This conversation is so extensively discussed over the years, that it has lost its intellectual spirit. Now more it is just utter complaining. Complaining about what the developers should have done; what they should be writing. People have to move on. Tomorrow, it'll be 2024 and we are talking as if it's still 2017.

Agreed. The conversation has been played out from every angle imaginable 10 times each since 2017.
sr. member
Activity: 1666
Merit: 310
December 30, 2023, 09:25:30 PM
To sum it up:

BTC core devs have zero power to enforce their opinion/vision, EVEN if that includes larger blocks. So the argument "you're gonna support BTC with bigger blocks if BTC core devs decide it" holds no water.

BTC mining pools (the first 5 have almost 85% of the hashrate, Pareto Principle 101) have the power to change things (since they secure the network), BUT they have zero inclination to increase the block size and therefore destroy the lucrative fee market.

Am I missing something?
legendary
Activity: 2338
Merit: 6509
be constructive or S.T.F.U
December 30, 2023, 06:13:14 PM
Again, sad interpretation. Rather, if you dislike how things operate, you have two choices:

So now it's two choices, we are getting to something, yes, I have always said the same thing, if you don't like how things are, start doing something, run your own client, email mining pools, and exchanges, don't just sit here and complain, it's the same thing I say to those who want larger blocks and those who are today nagging about Ordinals and demanding core devs to change the protocol just to ban ordinals.

I hope that the two of us are talking about the exact same point here, I am ONLY opposing the "If you don't like how things are with BTC, go use xyz" I am only against this particular stupid statement, why? because I think it's stupid, but any other rational argument against those who want to change the protocol is always welcomed.

Now in this context let me quote DooMAD reply to mine



If you don't like what's in the current code, create your own client.  Create an account on GitHub, select the option to fork the codebase, make whatever changes you like.  Then release it.  Share it around.  That way, you start to get a sense of what support a given proposal truly has.

And if you don't know how to code, you can pay a coder to write code.  You could pay a whole bunch of them.  Fund an entire dev team.  If you don't have money, you can crowdsource.  But no, people just want to complain and do nothing constructive to even try to change the situation.  And that's why the status quo remains.

In another topic discussion block size, I said



Every argument and counter-argument is valid depending on how you view them. Many people avoid getting into these discussions because many in the crypto community are narcissists and want BTC to be what they want it to be. If you speak for larger blocks, they accuse you of being CW's puppet; if you advocate for smaller blocks, you are now Core's pawn.

So now you need to be realistic with yourself and ask: Why would this change?

Miners are content with people competing to get into the block.
Exchanges are satisfied because there's more incentive to keep your BTC in their custody for cheap internal exchange and transfers, or to exchange your BTC for other coins when making smaller payments.
Most users don't seem bothered; we see people paying 8000 sat/Vbyte when potential fees are 300 sats/Vbyte.
People pay millions to mint some ugly JPEGs, and those who call themselves 'normal users' pay even higher fees than them to transact.
If you think BTC isn't working, then you need some fact-checking. It is working, it's in high demand, and the world doesn't give a damn about the 100 folks who want to set their fees at 1 sat/Vbyte to get into the next block. Sad fact? Indeed. Will it change anything? Hell no.

So, given the above and considering the risks involved in the transition, and the fact that people didn't give up on BTC despite high fees, it would be foolish for anyone to think that a block increase is going to happen anytime soon.


legendary
Activity: 4270
Merit: 4534
December 30, 2023, 01:52:49 PM
I made this api some time ago, which always shows recommended fees.
Data from mempool.space



It will fit  this topic about high fees Cheesy
if thats live data API it might be worth stompix putting it into the OP post so new readers can see live data in top post rather then old data

obviously stompix can then archive daily data in subsequent posts
legendary
Activity: 2352
Merit: 6089
bitcoindata.science
December 30, 2023, 01:35:09 PM
I made this api some time ago, which always shows recommended fees.
Data from mempool.space



It will fit  this topic about high fees Cheesy
legendary
Activity: 2912
Merit: 6403
Blackjack.fun
December 30, 2023, 01:31:41 PM
But isn't there a non-zero chance that it would also open more opportunities for some entities to send larger payloads of "spam" per block and store them in the Bitcoin blockchain?

That's exactly the reason we need to decrease the blocksize to 100 kb to kill all possible spam!  Wink

Plus Dogecoin and every other major altcoin don't give the same security assurances as Bitcoin. Solana I believe, during the last bull cycle, stopped producing blocks for hours because of network congestion. That should ever happen to Bitcoin.

It happens more often than you think, just a quick heads-up since this is mainly a topic about the state of the mempool, block 823575 was 34 minutes late:



Happy 2024 oh wait 374sat/vb!

I would trust stompix over Luke every day of the week, because despite the former not being a part of the core team, he does not propose censorship and writes a bunch of b.s on thier pool page, or tell people it is not okay to store arbitrary data on the blockchain when he himself stores his catholic prayers on the blockchain. Cheesy

Oh god no, I'm protestant! Grin

LE:


I'm unable to connect to my server right now so I'm not able to get any data from my node, question to the guys running one a default 300MB, is the number accurate? I changed that months ago and I know it broke though over 1GB weeks ago but that much in purging?

LLE:
Thanks bitmover, and I need to grab another mouse since my current one committed suicide while meriting franky1
Pages:
Jump to: