No, the transaction volume is very modest, lower than usual.
Are you from another parallel universe or something ??
The mempool normally has less than 25k unconfirmed transactions at the normal times.
Right now there's more than 166k unconfirmed transactions with a crazy rate of 14.35 transactions per second !!!!!1
It's usually doesn't even reach 8/s.
https://blockchain.info/unconfirmed-transactionsThe blockchain.info is wrong. I monitor the mempool myself and the blockchain.info is in the parallel universe. Here is the correct today's evolution:
https://jochen-hoenicke.de/queue/#2dDuring typical day, the steady state rate of transaction is equal to the total blocks mined, about 140-150 MB/day. Today, the mempool increased by 37 MB but only 61 MB of blocks have been mined. The sum is less than normal.
This takes us back exactly to when the conversations about applying segwit2. What did they do back then force it ? Scam and jam the bitcoin network so hard in order to show that it sucks right now and needs to be changed.
When they got what they want, they stopped their attacks. But now after the fork got cancelled, they're doing everything in their power to prove it one more time to the public.
This is totally clear. And don't come and tell me that there's no such thing as attacks or whatever. The fees have been so stable through the past months AND that is when the price was soaring so hard with a lot of people interested in bitcoins.
Don't tell me that somehow magically a few days after the fork is cancelled and the price went down, more transactions occur ? Doesn't make much sense.
There is no increase in transactions. There might be some transactions that are waiting at sidelines. Probably most of the non-important (moving $20 dollars of bitcoins) stopped but the current clog is due to slowdown in mining, not the increase in transactions. Last 12h was particularly slow, it's like having an effective 0.35 MB blocks. There has probably never been such a slowdown in mining during the history of Bitcoin (except maybe Satoshi times).
The distribution of transactions likely changed. With very high fees, wallet reorganizations and minor transactions are not issued. So the clog might be not easy to clear once the fees start to go down but it will bet better as soon as mining picks up.
Edit: corrected numbers
