Pages:
Author

Topic: Ultimate Bitcoin Stress Test - Monday June 22nd - 13:00 GMT - page 6. (Read 21442 times)

legendary
Activity: 1806
Merit: 1024
It will be interesting to see if this stress test brings about a solution to the block size problem. Hopefully we can find a solution to ensure that the blockchain continues to function without any issues or unnecessary delays.

This test isn't really going to change anything, or bring any solutions... This is only raising awareness of a problem we already know we have, it isn't proposing anything new. It's an interesting test, but with a predictable outcome for which the solution is already in discussion for quite some time, and there is already code ready to be deployed that helps prevent a situation like this.

Yes, the test is meaningless - it's an annoyance aiming at price manipulation.

The solution to stop spam attacks like this is certainly not a max_blocksize increase, because even at 20x times the blocksize the resources needed to perform such an attack are still extremely small for any serious attacker.

The practical solution for now is: Prioritize your transaction by sending it with an adequate fee.

The general solution is: Increase fees for spam transactions, i.e. fees should rise non-linearly (maybe exponentially) for small-value transactions with big data size.

ya.ya.yo!
legendary
Activity: 1092
Merit: 1001
Didn't take part in it, but current test made very long queue. People waited over 3 hours for 1 confirmation.
Limit of block size must be increased ASAP.

Dude, I am still waiting for a confirmation from over 7 hours ago.  I sent a 551byte transaction with a 2KSat fee and I must be at the bottom of the queue or something.  I see on blockchain.info that we seem to have stabilized at about 5000 unconfimred transactions but to be honest I have no idea how this compares to historical averages because it's never been an issue getting confirmations before.

I think average is around 800 to 1300 unconfirmed transactions during normal situations. Maybe even less.
legendary
Activity: 1456
Merit: 1081
I may write code in exchange for bitcoins.
Didn't take part in it, but current test made very long queue. People waited over 3 hours for 1 confirmation.
Limit of block size must be increased ASAP.

Dude, I am still waiting for a confirmation from over 7 hours ago.  I sent a 551byte transaction with a 2KSat fee and I must be at the bottom of the queue or something.  I see on blockchain.info that we seem to have stabilized at about 5000 unconfimred transactions but to be honest I have no idea how this compares to historical averages because it's never been an issue getting confirmations before.
legendary
Activity: 2296
Merit: 1014
Didn't take part in it, but current test made very long queue. People waited over 3 hours for 1 confirmation.
Limit of block size must be increased ASAP.
sr. member
Activity: 416
Merit: 250
Those scammers CoinWallet.eu guys are really retarded!!! Smiley

I have been using Bitcoin for 3 years now, and rarely have I send a transaction without fee and almost never volume lower than 0,1 BTC!
Which means, that the 8500+ clogged transactions are only their own, mine and most other peoples transactions went thru with little to no delay.

I am pro going to 1MB Size blocks, but it is too early to speak about that.
hero member
Activity: 882
Merit: 1000
Exhausted
With a larger block size, the long-term cost to the network rises.
Each kB of block chain must be stored by all of the full nodes participating in the network forever, given the current system.
Each kB of transaction stored in the chain has a very real long-term "cost".
The increased cost is permanent.

Speaking of this, there will be a -prune option in 0.11 (stable version should be out soon, currently in rc2) that allows you to autoprune the old block data with wallet disabled.
https://github.com/bitcoin/bitcoin/pull/5863

Running a pruned node with wallet won't be included in 0.11 though.
https://github.com/bitcoin/bitcoin/pull/6057
full member
Activity: 216
Merit: 100
I finally understand why my transactions are delayed Tongue

Good experimentation anyway :-)

You can see how many unconfirmed transactions there are at this link.

https://blockchain.info/unconfirmed-transactions

There were over 10 thousand unconfirmed earlier on when no new block had been found for a long time, now there are about 7200 unconfirmed because a block was found recently.

too many to explored.
this thing will make me stressed for real.
Ultimate Bitcoin Stress Test whatsssss???
ultimate delaying yess
sr. member
Activity: 348
Merit: 250
just pay another couple pennies to get your transactions confirmed in the next block.
Ahh, yes. If only those 10k unconfirmed transactions had paid higher fees they would be confirmed by now.
Yes they will not be confirmed. We need 20 MB blocks to make spamming the network more expensive.

That is a false, or at least incomplete, argument.



The cost of spamming the network and delaying transactions is, in a simplistic representation, a function of the cost per kB and the size of the block.


This is an important distinction.

Although larger blocks would increase the cost to delay other user's transactions, the exact same result could occur from a functioning fee market.

Increasing EITHER capacity OR the cost per kB would increase cost.

The ultimate result of these two strategies is different, however.

With a larger block size, the long-term cost to the network rises.
Each kB of block chain must be stored by all of the full nodes participating in the network forever, given the current system.
Each kB of transaction stored in the chain has a very real long-term "cost".
The increased cost is permanent.

With a higher fee per kB, the short-term cost to the network rises.
Transaction fees must rise for users, in order to be included in a block, during the spam attack.
The increased cost is temporary.



This trade-off should not be underestimated.

Maybe the wallets could be updated to scan for spam attacks, and in the event of one suggest paying a higher transaction fee. A message could explain the situation and suggest a higher fee for urgent transactions, or the normal fee for non-urgent transactions.
sr. member
Activity: 348
Merit: 250
I finally understand why my transactions are delayed Tongue

Good experimentation anyway :-)

You can see how many unconfirmed transactions there are at this link.

https://blockchain.info/unconfirmed-transactions

There were over 10 thousand unconfirmed earlier on when no new block had been found for a long time, now there are about 7200 unconfirmed because a block was found recently.
legendary
Activity: 1512
Merit: 1012
It will be interesting to see if this stress test brings about a solution to the block size problem. Hopefully we can find a solution to ensure that the blockchain continues to function without any issues or unnecessary delays.

This test isn't really going to change anything, or bring any solutions... This is only raising awareness of a problem we already know we have, it isn't proposing anything new. It's an interesting test, but with a predictable outcome for which the solution is already in discussion for quite some time, and there is already code ready to be deployed that helps prevent a situation like this.
hero member
Activity: 784
Merit: 1002
CLAM Developer
just pay another couple pennies to get your transactions confirmed in the next block.
Ahh, yes. If only those 10k unconfirmed transactions had paid higher fees they would be confirmed by now.
Yes they will not be confirmed. We need 20 MB blocks to make spamming the network more expensive.

That is a false, or at least incomplete, argument.



The cost of spamming the network and delaying transactions is, in a simplistic representation, a function of the cost per kB and the size of the block.


This is an important distinction.

Although larger blocks would increase the cost to delay other user's transactions, the exact same result could occur from a functioning fee market.

Increasing EITHER capacity OR the cost per kB would increase cost.

The ultimate result of these two strategies is different, however.

With a larger block size, the long-term cost to the network rises.
Each kB of block chain must be stored by all of the full nodes participating in the network forever, given the current system.
Each kB of transaction stored in the chain has a very real long-term "cost".
The increased cost is permanent.

With a higher fee per kB, the short-term cost to the network rises.
Transaction fees must rise for users, in order to be included in a block, during the spam attack.
The increased cost is temporary.



This trade-off should not be underestimated.
legendary
Activity: 1092
Merit: 1001
just pay another couple pennies to get your transactions confirmed in the next block.

Ahh, yes. If only those 10k unconfirmed transactions had paid higher fees they would be confirmed by now.

Supply and demand would have decided which ones got including by who was willing to pay the most.

Yes, but if we raised the cap slightly, miners "could" fit more transactions within a block, thus clearing this backlog.
Raising your fee just places you at the top of the list. But the line is still increasing.

And in theory, if that line continued for weeks, you'd pay eventually 1btc to be at the front of that line.

That means that there would be 1 thousand other transactions every 10 minutes that were willing to pay 1 btc to have there transactions included as well.

Yeah.. great for miners, but horrible/impossible for the average user. Thus neutering Bitcoin/bitcoin.

My point is eventually the fees will continue to increase to a point that most users can not afford.
Many new and average users only own way less than 0.10 btc.

What happened to spreading Bitcoin throughout the world?
What are all those poor people in poor states gonna do now?
http://www.coindesk.com/ben-parker-bitcoin-has-potential-in-fragile-states/
Tough shit for them, I guess, eh?

Edit: spelled neutering wrong
legendary
Activity: 1736
Merit: 1023
It will be interesting to see if this stress test brings about a solution to the block size problem. Hopefully we can find a solution to ensure that the blockchain continues to function without any issues or unnecessary delays.
newbie
Activity: 55
Merit: 0
just pay another couple pennies to get your transactions confirmed in the next block.

Ahh, yes. If only those 10k unconfirmed transactions had paid higher fees they would be confirmed by now.

Supply and demand would have decided which ones got including by who was willing to pay the most.

Hmm, makes me think of a different case of politically limited supply.

http://www.dailymail.co.uk/news/article-2255693/Last-pictures-life-iron-curtain-collapse-USSR.html
legendary
Activity: 2338
Merit: 1124

Exquisite, indeed. However, if we are looking for a broader adaption of Bitcoins, this technical explanation means "questionmark" to the "normal user"...
legendary
Activity: 1120
Merit: 1003
twet.ch/inv/62d7ae96
just pay another couple pennies to get your transactions confirmed in the next block.

Ahh, yes. If only those 10k unconfirmed transactions had paid higher fees they would be confirmed by now.

Supply and demand would have decided which ones got including by who was willing to pay the most.

Yes, but if we raised the cap slightly, miners "could" fit more transactions within a block, thus clearing this backlog.
Raising your fee just places you at the top of the list. But the line is still increasing.

And in theory, if that line continued for weeks, you'd pay eventually 1btc to be at the front of that line.

That means that there would be 1 thousand other transactions every 10 minutes that were willing to pay 1 btc to have there transactions included as well.
hero member
Activity: 861
Merit: 1001
I finally understand why my transactions are delayed Tongue

Good experimentation anyway :-)
legendary
Activity: 1092
Merit: 1001
just pay another couple pennies to get your transactions confirmed in the next block.

Ahh, yes. If only those 10k unconfirmed transactions had paid higher fees they would be confirmed by now.

Supply and demand would have decided which ones got including by who was willing to pay the most.

Yes, but if we raised the cap slightly, miners "could" fit more transactions within a block, thus clearing this backlog.
Raising your fee just places you at the top of the list line/queue. But the line is still increasing.

And in theory, if that line continued for weeks, you'd pay eventually 1btc to be at the front of that line.

Edit: changed list to line/queue
legendary
Activity: 1120
Merit: 1003
twet.ch/inv/62d7ae96
just pay another couple pennies to get your transactions confirmed in the next block.

Ahh, yes. If only those 10k unconfirmed transactions had paid higher fees they would be confirmed by now.

Supply and demand would have decided which ones got including by who was willing to pay the most.
hero member
Activity: 770
Merit: 500
just pay another couple pennies to get your transactions confirmed in the next block.

Ahh, yes. If only those 10k unconfirmed transactions had paid higher fees they would be confirmed by now.

Yes they will not be confirmed. We need 20 MB blocks to make spamming the network more expensive.
Pages:
Jump to: