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Topic: Mempool Observer Topic - page 76. (Read 23858 times)

legendary
Activity: 2912
Merit: 6403
Blackjack.fun
February 01, 2024, 11:13:11 AM
There is no post of him that explicitly says so
Many scammers tried to push on this narrative,  which is false, as far as I know.

You're falling in the same trap when you will deny any change just because it was previously supported by an individual you don't like.
The math is pretty clear, the outcome is also, you will never be able to have adoption and cheap transfers this way, and for LN to actually be used en masse, well you will still need bigger blocks unless you want fake decentralization with custodial wallets.
Oh, and last day fees were 8123 4TB ssd, that means users spent that much on fees a day while nodes (which are also run by users) won't be able to spend that ..in two years...cause cost!  Wink

But is there any technical limitation that would prevent an upgrade to 8 mb? I think there is none but i honestly dont know

Yeah, it's called periaqueductal gray synapse meltdown, or in layman terms, die hard bitcoiners letting go of their ego.
Won't happen!
hero member
Activity: 1064
Merit: 645
Magic
February 01, 2024, 10:49:31 AM
Read this thread and you will see that it is not the invention of some "faketoshi" https://bitcointalksearch.org/topic/patch-increase-block-size-limit-1347

I dont support any bitcoin sidechain movement, but the discussion for bigger blocksizes should be there. I mean it is quiete obvius where bitcoin is heading and the 4 mb will definatly be enough forever.
legendary
Activity: 2352
Merit: 6089
bitcoindata.science
February 01, 2024, 10:41:36 AM
If i remember correctly then it was the intend of satoshi to increase block size when bitcoin becomes more popular.

That is explicitly Faketoshi's intent, not Satoshi's.

What do you mean with that? I am pretty shure that he did a post about that here on the forum.

There is no post of him that explicitly says so
Many scammers tried to push on this narrative,  which is false, as far as I know.

They even created bitcoin cash and bitcoin sv, and made billions . But those coins are scam.
hero member
Activity: 1064
Merit: 645
Magic
February 01, 2024, 08:59:00 AM
If i remember correctly then it was the intend of satoshi to increase block size when bitcoin becomes more popular.

That is explicitly Faketoshi's intent, not Satoshi's.

What do you mean with that? I am pretty shure that he did a post about that here on the forum.

If i remember correctly then it was the intend of satoshi to increase block size when bitcoin becomes more popular. Since he had to disappear before bitcoin became popular enough for problematic high fees there was never an adjustment. Now we are stuck with a lobby of miners that always say that everything is still "so cheap compared to a visa card" that we will probabyl have to live with those fees forever.

There have been a couple of block size increases: first from 500 kb to 1 mb, and with Segwit it is now at a maximum of 4 mb.

https://en.bitcoin.it/wiki/Scalability_FAQ#What_is_the_short_history_of_the_block_size_limit.3F


That is a good observation. But is there any technical limitation that would prevent an upgrade to 8 mb? I think there is none but i honestly dont know
legendary
Activity: 3010
Merit: 8114
February 01, 2024, 07:26:20 AM
If i remember correctly then it was the intend of satoshi to increase block size when bitcoin becomes more popular. Since he had to disappear before bitcoin became popular enough for problematic high fees there was never an adjustment. Now we are stuck with a lobby of miners that always say that everything is still "so cheap compared to a visa card" that we will probabyl have to live with those fees forever.

There have been a couple of block size increases: first from 500 kb to 1 mb, and with Segwit it is now at a maximum of 4 mb.

https://en.bitcoin.it/wiki/Scalability_FAQ#What_is_the_short_history_of_the_block_size_limit.3F

Oh and before I foget it, yes bitcoin is a store of wealth how can I forget it. Nobody ever said that transactions should be cheap  Roll Eyes

Its a relative term, but I consider anything under $3 for a tx fee to be "cheap."
legendary
Activity: 2352
Merit: 6089
bitcoindata.science
February 01, 2024, 07:14:10 AM
If i remember correctly then it was the intend of satoshi to increase block size when bitcoin becomes more popular.

That is explicitly Faketoshi's intent, not Satoshi's.
hero member
Activity: 1064
Merit: 645
Magic
February 01, 2024, 06:39:57 AM
If i remember correctly then it was the intend of satoshi to increase block size when bitcoin becomes more popular. Since he had to disappear before bitcoin became popular enough for problematic high fees there was never an adjustment. Now we are stuck with a lobby of miners that always say that everything is still "so cheap compared to a visa card" that we will probabyl have to live with those fees forever.

Oh and before I foget it, yes bitcoin is a store of wealth how can I forget it. Nobody ever said that transactions should be cheap  Roll Eyes
copper member
Activity: 406
Merit: 22
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
February 01, 2024, 06:00:03 AM
     
  • fastestFee: 24 sat/vB
  • halfHourFee: 24 sat/vB
  • hourFee: 24 sat/vB
  • economyFee: 24 sat/vB
  • minimumFee: 24 sat/vB
legendary
Activity: 2352
Merit: 6089
bitcoindata.science
February 01, 2024, 04:46:30 AM

I have been spending about 2 utxos at a time, and I think that helps.

I always try to fully spend 2-4 UTXO at a time. As I have so many utxo (much more than 70) it is easy to find the exactly amount that I need. Fully spending makes the transaction a little smaller (and cheaper) too.

However,  I should have consolidate more at 1 sat vB. I will try to do so when the times comes again. I will watch LoyceV topic too Smiley
legendary
Activity: 1568
Merit: 6660
bitcoincleanup.com / bitmixlist.org
February 01, 2024, 02:22:59 AM
Most people here have too many utxo because we received recorring small payments for a long time...

Adoption also means that.

My UTXO set is bloated, I think I have about 60 to 70 of them so if I ever have to sweep my funds to another wallet, it's going to be quite expensive to do so, even at 30 sats/vbyte. But so is not securing your wallet properly, 'eh?

Fees are not important when your money is on the line, for whatever reason.

I have been spending about 2 utxos at a time, and I think that helps.
copper member
Activity: 406
Merit: 22
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
February 01, 2024, 12:00:01 AM
     
  • fastestFee: 39 sat/vB
  • halfHourFee: 34 sat/vB
  • hourFee: 29 sat/vB
  • economyFee: 29 sat/vB
  • minimumFee: 22 sat/vB
copper member
Activity: 406
Merit: 22
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
January 31, 2024, 06:00:01 PM
     
  • fastestFee: 35 sat/vB
  • halfHourFee: 33 sat/vB
  • hourFee: 31 sat/vB
  • economyFee: 31 sat/vB
  • minimumFee: 24 sat/vB
copper member
Activity: 406
Merit: 22
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
January 31, 2024, 12:00:00 PM
     
  • fastestFee: 43 sat/vB
  • halfHourFee: 37 sat/vB
  • hourFee: 33 sat/vB
  • economyFee: 33 sat/vB
  • minimumFee: 23 sat/vB
copper member
Activity: 406
Merit: 22
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
January 31, 2024, 06:00:01 AM
     
  • fastestFee: 39 sat/vB
  • halfHourFee: 38 sat/vB
  • hourFee: 36 sat/vB
  • economyFee: 36 sat/vB
  • minimumFee: 24 sat/vB
copper member
Activity: 406
Merit: 22
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
January 31, 2024, 12:00:01 AM
     
  • fastestFee: 31 sat/vB
  • halfHourFee: 29 sat/vB
  • hourFee: 27 sat/vB
  • economyFee: 27 sat/vB
  • minimumFee: 23 sat/vB
copper member
Activity: 406
Merit: 22
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
January 30, 2024, 06:00:01 PM
     
  • fastestFee: 26 sat/vB
  • halfHourFee: 26 sat/vB
  • hourFee: 26 sat/vB
  • economyFee: 26 sat/vB
  • minimumFee: 24 sat/vB
copper member
Activity: 406
Merit: 22
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
January 30, 2024, 12:00:01 PM
     
  • fastestFee: 36 sat/vB
  • halfHourFee: 34 sat/vB
  • hourFee: 32 sat/vB
  • economyFee: 32 sat/vB
  • minimumFee: 25 sat/vB
copper member
Activity: 406
Merit: 22
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
January 30, 2024, 06:00:01 AM
     
  • fastestFee: 28 sat/vB
  • halfHourFee: 27 sat/vB
  • hourFee: 27 sat/vB
  • economyFee: 27 sat/vB
  • minimumFee: 21 sat/vB
copper member
Activity: 406
Merit: 22
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
January 30, 2024, 12:00:00 AM
     
  • fastestFee: 26 sat/vB
  • halfHourFee: 26 sat/vB
  • hourFee: 26 sat/vB
  • economyFee: 26 sat/vB
  • minimumFee: 23 sat/vB
copper member
Activity: 406
Merit: 22
bc1qvq66kccea2fdqft6kss2zyn8y32z8xyy9rzhp0
January 29, 2024, 06:00:02 PM
     
  • fastestFee: 27 sat/vB
  • halfHourFee: 27 sat/vB
  • hourFee: 27 sat/vB
  • economyFee: 27 sat/vB
  • minimumFee: 23 sat/vB
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