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Topic: Ultimate Bitcoin Stress Test - Monday June 22nd - 13:00 GMT - page 8. (Read 21441 times)

legendary
Activity: 1092
Merit: 1001
Currently, the average fee for next block seems to float around 0.0003.

good, normal fee is 0,00001 BTC usually ... and 0,0001 BTC in 2014.  Grin (android wallet)

Well... now current fee is 0.00053, for next block (in theory).

Seems they started again after stopping for 2.5 hours.
legendary
Activity: 1512
Merit: 1012
Currently, the average fee for next block seems to float around 0.0003.

good, normal fee is 0,00001 BTC usually ... and 0,0001 BTC in 2014.  Grin (android wallet)
legendary
Activity: 1512
Merit: 1012
I was going to play a game for 30 minutes or so before work.  Now, 4.5 hours later, my BTC is tied up in some unconfirmed transaction.  Hey, OP, uh, thanks!

pay the real fees ...  Roll Eyes
legendary
Activity: 1092
Merit: 1001
Wow, these guys were spot on with this test.



I wonder if $500K in BTC was set aside.

Just normal calculation would tell me transactions would take days! If not weeks.

This is a serious problem.


According to the original calculation they provided, the unconfirmed tx should be around 55MB by now.
Currently, it is only around 8MB, which is not that bad. Miners seem to be chomping away fine.

So the stress testers either stopped or it was a scam to manipulate something unknown at this time (double spends?).

Currently, this only effects users who did not set a higher fee, to get into next block.
Currently, the average fee for next block seems to float around 0.0003.

legendary
Activity: 2268
Merit: 1278
So what makes my coins so special? Nothing over 2 hours for 6 confirms yet.
legendary
Activity: 1456
Merit: 1081
I may write code in exchange for bitcoins.
2) There should be some self-adjustment of fees. Clients should be
   able to inquire from the full nodes an estimate for a reasonable
   fee based on the current content of the mempool. This would allow for
   moderate fees under usual circumstances but would increase fees in
   times of flooding the blockchain with scam and would turn scamming
   into an expensive exercise.

^^ This.

If my client had warned me about the situation I would not have sent my BTC this morning.  'If my client had said "you're going to need to pay an exorbitant amount in fees if you hope to have your transaction confirmed anytime today thanks to a "stress test" that is currently being perpetrated on mainnet.' I would have appreciated the warning and cancelled the send.

I was going to play a game for 30 minutes or so before work.  Now, 4.5 hours later, my BTC is tied up in some unconfirmed transaction.  Hey, OP, uh, thanks!

legendary
Activity: 2702
Merit: 1072
Interesting, viewing an address is failing on blockchain sporadically.

Receiving this error - "Maximum concurrent requests for this endpoint reached. Please try again shortly."
hero member
Activity: 588
Merit: 500
Will Bitcoin Rise Again to $60,000?
Wow, these guys were spot on with this test.



I wonder if $500K in BTC was set aside.

Just normal calculation would tell me transactions would take days! If not weeks.

This is a serious problem.
member
Activity: 130
Merit: 58

Well look at the bright side. Now the "do not raise the blocksize limit above 1mb" crowd will learn the hard way. People don't want to solve problems until those problems are felt by themselves.

You can fill up any block size limit with this kind of scam.
It is not a question of the value of the actual block size limit itself but a
question of the price you have to pay for scam.

 What shall we learn from this kind of experiment:

1) We need a limit on the block size. This limit has to be
   sufficiently large for day to day transaction amounts but
   sufficiently small to prevent scam to enter the blockchain.

2) There should be some self-adjustment of fees. Clients should be
   able to inquire from the full nodes an estimate for a reasonable
   fee based on the current content of the mempool. This would allow for
   moderate fees under usual circumstances but would increase fees in
   times of flooding the blockchain with scam and would turn scamming
   into an expensive exercise.

jr. member
Activity: 58
Merit: 10
Lol...waiting long? What about higher fees? Grin Grin
legendary
Activity: 1456
Merit: 1081
I may write code in exchange for bitcoins.
popcorn

Is there some convinient web page for monitoring attack and state of network, except blockchain.info?

blockr.io is another one that is pretty good.  My full node seems to have about 6 blocks worth of transactions in the memory pool as of right now.  Should be interesting.

My transaction has been waiting for confirmations for approximately 3 hours now.  I wish I had seen the warning on this test.  And I wish these kinds of experiments were being carried out on testnet.  Sheesh, it's not that fun when you're the one who got disrupted by the experimentation.

Well look at the bright side. Now the "do not raise the blocksize limit above 1mb" crowd will learn the hard way. People don't want to solve problems until those problems are felt by themselves.

Ok, I'm trying to look at the bright side rather than the annoying side, but FWIW, I wasn't part of the "themeselves" that needed to feel this.  I had no issue raising blocksize limit and I stil wish these dudes would perpetrate elsewhere. 
legendary
Activity: 868
Merit: 1006
popcorn

Is there some convinient web page for monitoring attack and state of network, except blockchain.info?

blockr.io is another one that is pretty good.  My full node seems to have about 6 blocks worth of transactions in the memory pool as of right now.  Should be interesting.

My transaction has been waiting for confirmations for approximately 3 hours now.  I wish I had seen the warning on this test.  And I wish these kinds of experiments were being carried out on testnet.  Sheesh, it's not that fun when you're the one who got disrupted by the experimentation.

Well look at the bright side. Now the "do not raise the blocksize limit above 1mb" crowd will learn the hard way. People don't want to solve problems until those problems are felt by themselves.
hero member
Activity: 686
Merit: 500
I forgot about this. Now i shall wait a bit more because of this.
legendary
Activity: 1456
Merit: 1081
I may write code in exchange for bitcoins.
popcorn

Is there some convinient web page for monitoring attack and state of network, except blockchain.info?

blockr.io is another one that is pretty good.  My full node seems to have about 6 blocks worth of transactions in the memory pool as of right now.  Should be interesting.

My transaction has been waiting for confirmations for approximately 3 hours now.  I wish I had seen the warning on this test.  And I wish these kinds of experiments were being carried out on testnet.  Sheesh, it's not that fun when you're the one who got disrupted by the experimentation.
legendary
Activity: 1988
Merit: 1012
Beyond Imagination
And exchange rate was not affected by this test, showing that real economy activities have nothing to do with exchange rate, which is mainly decided at exchange

This is true for fiat money too, their exchange rate is maintained by central banks with huge amount of currency reserve, have nothing to do with real economy. In fact, banks affect economy through manipulating exchange rates
legendary
Activity: 1512
Merit: 1012
agreed.
even some users here are obviously not happy at all, I like this kinds of tests.

me too, that is a perfect "in situation" datas to permit to developpers to view if they can change somes approch of the developping process of Bitcoin network.

https://getaddr.bitnodes.io/dashboard/
legendary
Activity: 1988
Merit: 1012
Beyond Imagination
I don't think that is a big deal. Except for some active traders, average people are actually very flexible when it comes to transaction confirmation time. Since 90% of the bitcoins are used as long term investment, it does not really matter you bought it one day earlier or you sell it one day later

"Average people" haven't even started to adapt Bitcoin. And one argument is that transactions can go through fast. At least faster then with banks. So if a transaction through the Bitcoin network becomes slower for them, Mr. and Mrs. Average will most likely not use it.

Unless they are holding some bitcoins for the long term, which is the major usage right now  Wink

The idea behind this test is good. If a large entity can spam the network with large amount of transactions (Banks for example, could throw in million dollar without difficulty, if they feel that bitcoin is competing with their business), then the best way to defend is to raise the block size 100 times: With larger block size, to spam the network would require much more resources, and it will be much easier for miners to see the spam nodes (with huge amount of transactions) and block them

It seems the network is back to normal now, maybe OP's nodes are all blocked right now  Cheesy
hero member
Activity: 907
Merit: 1003

By 14:00 GMT Monday June 22, the mempool of standard fee transactions will be 10mb By 24:00 GMT Monday June 22nd, the mempool of standard fee transactions will be 130mb By 13:00 GMT Tuesday June 23rd, the mempool of standard fee transactions will be 241mb


Not really seeing the massive build up yet. next block is now due and only 4k transactions waiting?

Yeah this doesn't appear to be a very big stress test. It looks like just an hour or two of higher-than-average transactions per second, and now back to normal.

I'm wondering if coinwallet.eu failed to carry through with their plan and all we're seeing is other contributers who wanted to add to the movement.
legendary
Activity: 2338
Merit: 1124
I don't think that is a big deal. Except for some active traders, average people are actually very flexible when it comes to transaction confirmation time. Since 90% of the bitcoins are used as long term investment, it does not really matter you bought it one day earlier or you sell it one day later

"Average people" haven't even started to adapt Bitcoin. And one argument is that transactions can go through fast. At least faster then with banks. So if a transaction through the Bitcoin network becomes slower for them, Mr. and Mrs. Average will most likely not use it.
hero member
Activity: 544
Merit: 500

By 14:00 GMT Monday June 22, the mempool of standard fee transactions will be 10mb By 24:00 GMT Monday June 22nd, the mempool of standard fee transactions will be 130mb By 13:00 GMT Tuesday June 23rd, the mempool of standard fee transactions will be 241mb


Not really seeing the massive build up yet. next block is now due and only 4k transactions waiting?
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