Today's attack on Bitcoin - page 4. | Bitcointalksearch.org

burnedbyfees

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Quote from: Variogam on November 12, 2017, 12:28:36 PM

Quote from: burnedbyfees on November 12, 2017, 12:02:37 PM

Not sure anyone can really do anything about people maliciously spamming the network can they? Genuinely asking.

If somebody is willing to pay the fees it hardly can be described as a spam. Bitcoin weakness is its limited blocksize, thats why its not hard to overload the system when many try to use Bitcoin at once. Only about 300,000 Bitcoin transactions can be confirmed daily and there are estimated about 10 million Bitcoiners - but Bitcoin can still work as speculative investment only if people send Bitcoin to the exchange once in while only.

https://bravenewcoin.com/news/bitcoin-spam-attack-stressed-network-for-at-least-18-months-claims-software-developer/

Variogam

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Quote from: burnedbyfees on November 12, 2017, 12:02:37 PM

Not sure anyone can really do anything about people maliciously spamming the network can they? Genuinely asking.

If somebody is willing to pay the fees it hardly can be described as a spam. Bitcoin weakness is its limited blocksize, thats why its not hard to overload the system when many try to use Bitcoin at once. Only about 300,000 Bitcoin transactions can be confirmed daily and there are estimated about 10 million Bitcoiners - but Bitcoin can still work as speculative investment only if people send Bitcoin to the exchange once in while only.

burnedbyfees

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Quote from: cryptolerant on November 12, 2017, 12:12:23 PM

Quote from: burnedbyfees on November 12, 2017, 10:16:22 AM

Quote from: Anarc Senior on November 12, 2017, 10:13:47 AM

Quote from: burnedbyfees on November 12, 2017, 09:59:23 AM

This is a real coordinated attack.

Roger Vermin moved 25k BTC to Bitfinex to put on a public show.

Some mining pools have ceased mining BTC and there's services asking for Bitcoin cash to confirm transaction in the case of https://pushtx.btc.com/ (try it for yourself).

$700m worth of stuck BTC in unconfirmed transactions (including $900+ of mine Angry

).

https://www.cryptocoinsnews.com/700-million-stuck-115000-unconfirmed-bitcoin-transactions/

Legions of dump btc and buy bitcoin cash comments everywhere online.

And they keep trying to pump Bitcoin Cash but the market keeps telling them to "fuck off", each peak lower than before, It took me 7 tries to dump the Bitcoin Cash I'd been holding on Bittrex, so I think they may be in on it too. This is not organic it all, it's a planned coup. A few people will be like "yeah, no shit Sherlock" but many people still don't know about it.

Your comments gentleman, is there something I've missed?

The good news is the mining difficulty of Bitcoin cash will soon rise massively so they cannot sustain it for long.

Were you finally able to sell your BCC on Bittrex ? I tried to move my Eth to BTC but it took me awhile too, the funds kept getting stuck in "reserved". Yeah something may be fishy with Bittrex, but it could very well be the network got jammed with Korean's orders...

Yes eventually, it took many tries and many error messages.

I've been using Bittrex since early June, done hundreds (if not thousands) of trades and never seen this before.

Same here, I've done even maybe thousands of transactions using Bittrex, never had experienced anything like this. Hard to understand what is going on behind the scenes.

Glad to see I've not gone nuts, I think if you're Bittrex and very rich and powerful people say "I want your help pumping BCH" you make it happen, that's just my gut feeling. There's no way to prove it so I'm not gonna say for sure they're in on it, it's just highly suspicious to me that now is the only time I have this problem where I can't dump a coin for BTC.

Snub

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there are so many transactions in hold because there are too many transactions since BTC started to decrease, people are getting panic, and want to sell it higher and buy lower

12asphilip

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If you check Bittrex earlier, it is very evident that the rise of BCH was merely staged and coordinated. Nothing was natural, all of it were just made for the money and not to actually support BCH. Charts would tell you that.

cryptolerant

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Quote from: burnedbyfees on November 12, 2017, 10:16:22 AM

Quote from: Anarc Senior on November 12, 2017, 10:13:47 AM

Quote from: burnedbyfees on November 12, 2017, 09:59:23 AM

This is a real coordinated attack.

Roger Vermin moved 25k BTC to Bitfinex to put on a public show.

Some mining pools have ceased mining BTC and there's services asking for Bitcoin cash to confirm transaction in the case of https://pushtx.btc.com/ (try it for yourself).

$700m worth of stuck BTC in unconfirmed transactions (including $900+ of mine Angry

).

https://www.cryptocoinsnews.com/700-million-stuck-115000-unconfirmed-bitcoin-transactions/

Legions of dump btc and buy bitcoin cash comments everywhere online.

And they keep trying to pump Bitcoin Cash but the market keeps telling them to "fuck off", each peak lower than before, It took me 7 tries to dump the Bitcoin Cash I'd been holding on Bittrex, so I think they may be in on it too. This is not organic it all, it's a planned coup. A few people will be like "yeah, no shit Sherlock" but many people still don't know about it.

Your comments gentleman, is there something I've missed?

The good news is the mining difficulty of Bitcoin cash will soon rise massively so they cannot sustain it for long.

Were you finally able to sell your BCC on Bittrex ? I tried to move my Eth to BTC but it took me awhile too, the funds kept getting stuck in "reserved". Yeah something may be fishy with Bittrex, but it could very well be the network got jammed with Korean's orders...

Yes eventually, it took many tries and many error messages.

I've been using Bittrex since early June, done hundreds (if not thousands) of trades and never seen this before.

Same here, I've done even maybe thousands of transactions using Bittrex, never had experienced anything like this. Hard to understand what is going on behind the scenes.

burnedbyfees

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Quote from: Rinaze on November 12, 2017, 11:55:49 AM

Shouldn't BTC be taking some emergency measure and decrease mining difficulty significantly temporarily for a start?

Not really, since BCH will go up 400% tonight no need. But it also looks like BCH has now failed in it's takeover bid anyway.

But people who own mining pools who are not arseholes could probably up their game to clear transactions maybe.

Not sure anyone can really do anything about people maliciously spamming the network can they? Genuinely asking.

Rinaze

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Shouldn't BTC be taking some emergency measure and decrease mining difficulty significantly temporarily for a start?

Murloc

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This whole issue once again shows that there is nothing more than a bunch of douchebags staying behind bitcoin cash. This behaviour can be easily classify as a pure scam.

Quote from: BrewMaster on November 12, 2017, 11:42:37 AM

it is a free market, yeah. it is also a free world but is it ok if i buy a house next to you and start burning tires in my backyard next to your window all day long?

Your understanding of definition of the free market is wrong and it is based on statism.

burnedbyfees

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Quote from: BrewMaster on November 12, 2017, 11:42:37 AM

Quote from: collapse on November 12, 2017, 11:17:19 AM

Attack? Really ?

Quote

In a free market, free result,...

Bitcoin has a big problem with transaction fees now, the future is now. If another coin, BCH, NTRN (20 Mb block size, and 79 seconds block), BTG, AMC, ELC, BET, OTHERALTCOIN,..., solves this problem that "Core" refuses to solve, BTC will return to his value, 0.
Most of Altcoins value is near to 0, this altcoins have no use, have no liquidity = no value.

you are only half correct. i agree with the second part i didn't quote, the value of bitcoin is coming from being a "medium of exchange" and i hate it when people say bitcoin is just store of value.

but none of it change the fact that bitcoin cash is an attack on bitcoin. all those other altcoins you named and all the rest you didn't don't do anything to bitcoin and how it works. if some arbitrary coin goes to $1 trillion dollar per coin or drops to 1 cent per coin nothing about bitcoin will change.

but when bitcoin cash goes from (pumped) $600 to $1800 and has a low difficulty (aka easy mining) that takes bitcoin's hashrate and causes the rise of fees. everything were perfectly fine with bitcoin and i was paying 1 satoshi for fee before they pumped bitcoin cash. and that is an attack.

it is a free market, yeah. it is also a free world but is it ok if i buy a house next to you and start burning tires in my backyard next to your window all day long?

We have a winner, you get it.

If it was organic and people just wanted BCH to be top dog you wouldn't hear a peep from me, but it's manipulation, probably illegal if there were prosecutors who could make sense of it (insider trading?) and malicious.

It's the opposite of the free market, it's a few powerful people trying to control the market. And I'm very glad the actual free market is telling them to get stuffed.

BrewMaster

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There is trouble abrewing

Quote from: collapse on November 12, 2017, 11:17:19 AM

Attack? Really ?

Quote

In a free market, free result,...

Bitcoin has a big problem with transaction fees now, the future is now. If another coin, BCH, NTRN (20 Mb block size, and 79 seconds block), BTG, AMC, ELC, BET, OTHERALTCOIN,..., solves this problem that "Core" refuses to solve, BTC will return to his value, 0.
Most of Altcoins value is near to 0, this altcoins have no use, have no liquidity = no value.

you are only half correct. i agree with the second part i didn't quote, the value of bitcoin is coming from being a "medium of exchange" and i hate it when people say bitcoin is just store of value.

but none of it change the fact that bitcoin cash is an attack on bitcoin. all those other altcoins you named and all the rest you didn't don't do anything to bitcoin and how it works. if some arbitrary coin goes to $1 trillion dollar per coin or drops to 1 cent per coin nothing about bitcoin will change.

but when bitcoin cash goes from (pumped) $600 to $1800 and has a low difficulty (aka easy mining) that takes bitcoin's hashrate and causes the rise of fees. everything were perfectly fine with bitcoin and i was paying 1 satoshi for fee before they pumped bitcoin cash. and that is an attack.

it is a free market, yeah. it is also a free world but is it ok if i buy a house next to you and start burning tires in my backyard next to your window all day long?

immunity

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That will not run for long. Also the bitcoin price is quite low at this point and I believe we will get back a lot of investment in bitcoin because it's an opportunity for the people to buy bitcoin at a lower price.

MisterLG

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Very unfortunate now one of my favorite alt coins is at a low price. I do not think that this will take for long though. it will probably done within in the next 12 hours but I am curious what will happen in the next 24 hours though! how much will it go down and how many FUD's will sell. Time will tell I guess.

burnedbyfees

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Hey, we've probably got the whole thing to look forward to again when they try it with Bitcoin Gold... Roll Eyes

It will definitely happen again and again...

People like to control shit, and when segwit2x BTFO they switched tactics.

Basmic

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Quote from: thesmallgod on November 12, 2017, 10:36:53 AM

I know from the begining that this bitcoin cash pumping up is being orchestrated. well everything have both the advantage and disadvantages i hope to see what happen to mining pool and also maybe this will dethroned bitcoin as it was been discuss by some people. I think this is most difficult period for coin investors and i believe it will be better to keep fiat and see what happen for the next 4 weeks. will bitcoin go back below $4000?

Bitcoin gets home. Its price will soon go up. Anyone who thinks that bitcoin will fall to $ 4,000 now sell your coins. That's good. The coins will remain only those who believe in bitcoin. They will not give in on provocation of speculators and the price of bitcoin will become more stable. Those who rushed to buy now, BCH will be punished for treason.

Shendy23

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Ooh! Im trying my best here to have EXTN coins and convert it in BTC. I hope someone should do something about this. So that, this will not happen gain. Next week I will try my luck for my Earned EXTN to convertin EXTN. Hope it will be process quick.

collapse

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step forward

Attack? Really ?

Quote

In a free market, free result,...

Bitcoin has a big problem with transaction fees now, the future is now. If another coin, BCH, NTRN (20 Mb block size, and 79 seconds block), BTG, AMC, ELC, BET, OTHERALTCOIN,..., solves this problem that "Core" refuses to solve, BTC will return to his value, 0.
Most of Altcoins value is near to 0, this altcoins have no use, have no liquidity = no value.

The "Digital Gold" song is pure shit. Gold can not be digital,...

The only value of Bitcoin is as medium of exchange in the Internet. With high fees, this value disappears,...
In MONEY, storage of value and unit of account are derived from medium of exchange characteristic. In the majority of cases supported as medium of exchange by the State.

The value of Bitcoin NOW resides in his high liquidity (~community) compared with other "altcoins".

Money: https://www.ecb.europa.eu/explainers/tell-me-more/html/what_is_money.en.html

burnedbyfees

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Quote from: mk4 on November 12, 2017, 10:29:06 AM

I'm not actually trying to defend Roger Ver. But do you have any proof that he indeed moved 25k BTC to bitfinex? Also, how is moving 25k btc to an exchange "putting on a show" and or a "coordinated attack"? And how did you come to the conclusion that it's because of that transaction that bitcoin's unconfirmed transactions skyrocketed?

Let's be reasonable here and not just follow/hate blindly.

https://www.reddit.com/r/Bitcoin/comments/7cefom/roger_ver_just_sent_25k_btc_to_bitfinex/

He's been a vocal promoter of BCH and it looks to me (and many others) like a signal to dump large amounts of BTC. I'm not hating him blindly my dude, I didn't just pull this stuff out of my ass but, hey I respect your opinion.

With his connections and knowledge he could have definitely done it quietly if he was really intent on selling and wanted a good price.

leonix007

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Grow with community

Quote from: mk4 on November 12, 2017, 10:29:06 AM

I'm not actually trying to defend Roger Ver. But do you have any proof that he indeed moved 25k BTC to bitfinex?

I'd just came across here:

https://www.reddit.com/r/Bitcoin/duplicates/7cefom/roger_ver_just_sent_25k_btc_to_bitfinex/

Quote

Also, how is moving 25k btc to an exchange "putting on a show" and or a "coordinated attack"?

this has been predicted since the first segwits

Quote

And how did you come to the conclusion that it's because of that transaction that bitcoin's unconfirmed transactions skyrocketed?

Fuds, ready to sell, Ready for dump, BCH price hike, miners switch to profitable coins leaving BTC. effect is your statement. oh by the way did I mention SPAMMING network?

Quote

Let's be reasonable here and not just follow/hate blindly.

Yeah, this show is getting hotter and hotter.

thesmallgod

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I know from the begining that this bitcoin cash pumping up is being orchestrated. well everything have both the advantage and disadvantages i hope to see what happen to mining pool and also maybe this will dethroned bitcoin as it was been discuss by some people. I think this is most difficult period for coin investors and i believe it will be better to keep fiat and see what happen for the next 4 weeks. will bitcoin go back below $4000?

Topic: Today's attack on Bitcoin - page 4. (Read 2535 times)