Topic: The only acheivement of spam attack is prevention of scalability! (Read 381 times)

more than a spam attack this seems a rally on who want his transaction to get confirmed first, that's why the fee are so high, everyone is jumping on adding an higher fee to be in the mempool or better to be confirmed before any other

if paying more fee help your transaction confirmed faster, it's obvious that this will start a game that will only lead to bigger fee

i'm wondering if miners ever care about adoption, seeing how they have their profit with this value and they know that bitcoin will not die anymore even without the fix of scalability

just to be clear, i fully agree with this. the 12.5BTC the miners get is more than enough even when price was still at $600-$700 range. and now it is pure profit with the current $1200+ price which is continuously rising.

all i am saying is that they are extra happy with the additional 1BTC ($1200+) (1.5 current total fee - 0.5 previous total fee) profit they are getting because of the spam attack and this additional profit is rising out of control and soon will be 1.5-2BTC additional profit more than they deserve.
and these numbers are just for one block, multiply it by the total number of blocks these pools mine each day, it accumulates fast.

and that can be enough reason for them not to adopt any of the solutions because it leads to spam attack to stop, fees going back to normal and their bonus to disappear.

no point speculating about the year 2140. even your grandkids will be too old to care about a future they wont be part of

This is very interesting info.
So you think that miners stand behind the spam attacks which push the transaction fees up and increase their profit.
I`ve never thought about this.
What will happen after bitcoin reaches 21M and the mining stops?Maybe those spam attacks will stop and
the transaction fees will decrease.

addressing the FUD that spam is related to pools wanting income:
pools do not care about fee's as a NEEDED INCOME. to them its just a bonus. and will continue to be a bonus for a couple decades.
the block reward will be sufficient enough to cover real costs.

those pushing the fee war are not actually the pools. but blockstream devs that have
1. tweaked the code to make the old priority formulae near useless (infact 0.14 is removing priority formula completely)
2. removed reactive fee's and replaced it with AVERAGE fee's
3. added fee filters and relay filters

all of which are biasedly making tx fee's rise even in times of low demand.

what is needed is to reintroduce a REAL and NEW 'priority formulae' mechanism that makes the infrequent LEAN tx users get cheap tx and those that want to spam by respending every block pay more. and those that want to bloat a block pay more.

that way it becomes fairer for everyone, rather than just 'everyone pay more' banker economics

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here is one example
imagine that we decided its acceptable that people should have a way to get priority if they have a lean tx and signal that they only want to spend funds once a day. where if they want to spend more often costs rise, if they want bloated tx, costs rise.. which then allows those that just pay their rent once a month or buys groceries every couple days to be ok using onchain bitcoin.. and where the costs of trying to spam the network (every block) becomes expensive where by they would be better off using LN. (for things like faucet raiding every 5-10 minutes)

so lets think about a priority fee thats not about rich vs poor but about respend spam and bloat.

lets imagine we actually use the tx age combined with CLTV to signal the network that a user is willing to add some maturity time if their tx age is under a day, to signal they want it confirmed but allowing themselves to be locked out of spending for an average of 24 hours.

and where the bloat of the tx vs the blocksize has some impact too... rather than the old formulae with was more about the value of the tx


as you can see its not about tx value. its about bloat and age.
this way
those not wanting to spend more than once a day and dont bloat the blocks get preferential treatment onchain.
if you are willing to wait a day but your taking up 1% of the blockspace. you pay more
if you want to be a spammer spending every block. you pay the price
and if you want to be a total ass-hat and be both bloated and respending often you pay the ultimate price

Like any business, if you jack up the prices too far too fast, you soon will have no customers.
Bitcoin is not the only cryptocurrency in town.   So if a miner is in it for the long term, they
will want to adopt a scaling solution so that bitcoin stays competitive.

This is just my conclusion based on observation.

people always speculate about who and why this spam attack is happening.
some say it is political to force a proposal.
some say it is miners
...

what i am more interested in is the results of this spam attack!

think about this, as a miner the only thing you care about is money and how to make more of it.
after the halving the amount you earned was halved, still profitable but half.
you were getting paid 0.2-0.5BTC  ($120-$300 approximately) as fees per block in addition to the block reward (12.5BTC).

now thanks to the price rise and more importantly the spam attack the amount of fees has gone up to 220 satoshi/byte and you are getting paid 1.4-1.5BTC ($1770-$1900 approximately) as fees per block in addition to the block reward (12.5BTC). and that is a 530% increase in USD profit! and 200% increase if you think of it as bitcoin profit.
and this additional profit is increasing every day.

would you adopt any of the scaling solutions if you were a miner?