Where do massive amounts of unconfirmed mempool transactions come from?

Hell-raiser

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Quote from: krishnapramod on November 14, 2017, 10:34:22 PM

Quote from: Hell-raiser on November 14, 2017, 08:22:24 AM

Lightning Network activation may in fact take many years, if ever, and it may require a new hard fork, Bitcoin Cash style. SegWit took more than a year to finally get activated, and what year that was! SegWit itself is a minor improvement, and while it should pave the path to LN, Lightning Network will be the last thing that Bitcoin miners would agree to. Simply because it would kill their cash cow, and their revenue flow will run dry.

And don't forget the reward halving in just two years.

Lightening Network is in progress, no ETA as of yet. Yeah, implementation might take a couple of years or even a few years. As far as LN and miners are concerned, LN is neither a soft fork nor a hard fork, an additional layer on top of the Bitcoin network so implementation of LN doesn't require consensus.

That sounds good if true. But I still don't understand why it will take so long to develop and implement? It has been in the works for years already and it got activated in Litecoin more than half a year ago. What prevents it from being activated in Bitcoin at least by some of the nodes in the test mode of operation if it doesn't require either hard or soft fork and can be run without changes made to the underlying Bitcoin infrastructure?

krishnapramod

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Quote from: Hell-raiser on November 14, 2017, 08:22:24 AM

Lightning Network activation may in fact take many years, if ever, and it may require a new hard fork, Bitcoin Cash style. SegWit took more than a year to finally get activated, and what year that was! SegWit itself is a minor improvement, and while it should pave the path to LN, Lightning Network will be the last thing that Bitcoin miners would agree to. Simply because it would kill their cash cow, and their revenue flow will run dry.

And don't forget the reward halving in just two years.

Lightening Network is in progress, no ETA as of yet. Yeah, implementation might take a couple of years or even a few years. As far as LN and miners are concerned, LN is neither a soft fork nor a hard fork, an additional layer on top of the Bitcoin network so implementation of LN doesn't require consensus.

Hell-raiser

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Quote from: krishnapramod on November 13, 2017, 06:39:34 AM

I don't know whether it was because of spam attacks, but it was obvious that miners were gaming on difficulty oscillations between Bitcoin and BCH which resulted in BCH having a higher hashrate than Bitcoin, but now as usual the profit-driven miners are returning. The backlog is clearing up. The good thing to come out of this is Slush Pool temporarily becoming the largest pool with 20.8%, simply great. The percentage of Segwit transactions is still around 10. LN implementation might take a few more months, but I am hoping there would be a much needed solidarity in the mining space, more non-chinese pools.

Lightning Network activation may in fact take many years, if ever, and it may require a new hard fork, Bitcoin Cash style. SegWit took more than a year to finally get activated, and what year that was! SegWit itself is a minor improvement, and while it should pave the path to LN, Lightning Network will be the last thing that Bitcoin miners would agree to. Simply because it would kill their cash cow, and their revenue flow will run dry.

And don't forget the reward halving in just two years.

sindikat

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Quote from: BillCoin on November 12, 2017, 06:45:57 PM

Also consider that the article is pretty much from the times that there were not so much bitcoin users.

At the moment, even when the mempool is about to be full, there is a large percent of unconfirmed transactions from regular users as the amount of bitcoin users is growing.

Even on spam attacks times, I don't think that it should be an excuse, bitcoin protocol should be holding all kinds of attacks including DDOS attacks sch as spam attacks.
I hope that the condition improves once lightning network comes out.

I heard that was sent to a large number of small transactions which created a great place. It's not DOS attacks. This is not possible to be ready, but I am glad that this can't last forever. Too expensive to do this method of spamming. This means that very soon bitcoin will return to its former price range.

gabmen

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Quote from: Rousse on November 14, 2017, 05:32:53 AM

That was for sure a well organised move...
Jaming market transactions, moving miners on BCC pool, pumped BCC price real hard, i'm glad i was on train to get some free BTC and thanks for that roller coaster ride o/

Lol what a weekend dude. Congratulations to everyone who made money from bch wagon Cheesy

its interesting how some people can manipulate the market that systematically. I myself had my transaction stuck in the mempool for more than 24 hours

omashi

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spam maybe, remind of what happened in May, prior to NYA.

Rousse

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That was for sure a well organised move...
Jaming market transactions, moving miners on BCC pool, pumped BCC price real hard, i'm glad i was on train to get some free BTC and thanks for that roller coaster ride o/

krishnapramod

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I don't know whether it was because of spam attacks, but it was obvious that miners were gaming on difficulty oscillations between Bitcoin and BCH which resulted in BCH having a higher hashrate than Bitcoin, but now as usual the profit-driven miners are returning. The backlog is clearing up. The good thing to come out of this is Slush Pool temporarily becoming the largest pool with 20.8%, simply great. The percentage of Segwit transactions is still around 10. LN implementation might take a few more months, but I am hoping there would be a much needed solidarity in the mining space, more non-chinese pools.

Hell-raiser

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Quote from: jseverson on November 12, 2017, 10:49:11 PM

This is ridiculous. I honestly think this is worse than a Segwit2x fork would have been. Fees are so high at the moment that Bitcoin is barely usable. I'm really surprised Bitcoin is still at $6000 at this point, but pretty much the entire community knows that this is an attack though, so they're just sticking around.

This really does highlight the problems with Bitcoin though. There's no way it's ready for current adoption at this state. Changes have to be made. Bitcoin Cash is out of the question as we'll be playing right into the coup.

I don't think that this is so much an attack as it is just a transaction jam caused by a large number of miners switching to mining Bitcoin Cash. Look, it has grown a few times within just a few days and I think it has become insanely profitable to mine it now. But because miners who mine original Bitcoin are the same miners which mine BCash, Bitcoin mining is running dry right now. Thus less blocks get mined and more unconfirmed transactions accumulate with fees skyrocketing.

What do you think of this explanation?

pinkflower

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Spam attacks on the blockchain may come more from the supporters of BCC than from the supporters of 2x from my perspective. Its also the perfect time to make the BTC users think that we are in need of big blocks and that they have the solution. BitcoinCash.

Its also suspicious that BTC was dumped and BCC was pumped.

jseverson

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This is ridiculous. I honestly think this is worse than a Segwit2x fork would have been. Fees are so high at the moment that Bitcoin is barely usable. I'm really surprised Bitcoin is still at $6000 at this point, but pretty much the entire community knows that this is an attack though, so they're just sticking around.

This really does highlight the problems with Bitcoin though. There's no way it's ready for current adoption at this state. Changes have to be made. Bitcoin Cash is out of the question as we'll be playing right into the coup.

BillCoin

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Also consider that the article is pretty much from the times that there were not so much bitcoin users.

At the moment, even when the mempool is about to be full, there is a large percent of unconfirmed transactions from regular users as the amount of bitcoin users is growing.

Even on spam attacks times, I don't think that it should be an excuse, bitcoin protocol should be holding all kinds of attacks including DDOS attacks sch as spam attacks.
I hope that the condition improves once lightning network comes out.

McKane

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IF PROBLEM WITH MY TRUST THEN BRING AN ESCROW.

Quote from: HasHe on November 12, 2017, 08:10:58 AM

Definitely,this might be the logic reason for such huge loads of unconfirmed transactions which are created artificially to make users think that bitcoin is no more useful for transactions and its time to switch to BCH wher transaction fee is very low and very fast.Also,its price is increasing very high and so,it could also be used as an investment.At the same time,vigorous pumping of BCH price very high.It seems to be a very well pre planned attack.

It's an ideal opportunity to hold BCH on the grounds that bitcoin have bring the BCH considerably more grounded on the grounds that it will reach to 5000$ soon so we have to hold BCH at this moment to get significantly more great benefit in light of the fact that on the off chance that we hold at the present time BCH then we will gain by that more.

Hydrogen

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Quote from: gredisgold88 on November 11, 2017, 10:22:37 PM

it looks like that, it's almost the same as a deliberate or accidental DDoS attack. renewal of the blockchain system and mining blocks will benefit to miners.

Exactly. Labeling it a "scaling issue" is incorrect terminology. Its more like a DDoS attack.

In addition to this, mining pools may not be producing blocks that are full to capacity. Many blocks with a 1MB size will only have 99KB of data in them, to slow transaction rates further. Evidence for that:

Quote

Recently, AntPool has been mining a number of blocks with sizes of around 99 KB, 369 KB and 860 KB. There were dozens of blocks mined around these specific sizes during the month of February. During the times these blocks were mined, everyone else on the network was filling blocks with transactions up to the 1 MB capacity limit.

In addition to the non-full blocks mined by AntPool, the mining pool also created 16 empty blocks in the month of February. The total amount of transaction capacity lost by the network during this time as a result of AntPool's small blocks is not difficult to estimate. Numbers shared by BitFury's Alex Petrov show AntPool's average mined block size in February was around 100 KB less than other mining pools of comparable size.

The number of transactions in a block can vary, but at an average transaction size of 500 bytes , 100 KB would amount to roughly 200 transactions. With 768 blocks mined, AntPool essentially included 153,600 less transactions in February than other large mining pools, such as BitFury or F2Pool , which would have mined with a similar share of the network. This is roughly half of the total number of transactions that are mined on the entire Bitcoin network per day.

http://www.nasdaq.com/article/something-odd-is-happening-at-bitcoins-largest-mining-pool-cm756139

There could be a campaign to restrict bitcoin's transaction speed and attack its network with unconfirmed transactions. To incorrectly blame "block size" and unfairly put the responsibility for it on core devs.

HasHe

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Definitely,this might be the logic reason for such huge loads of unconfirmed transactions which are created artificially to make users think that bitcoin is no more useful for transactions and its time to switch to BCH wher transaction fee is very low and very fast.Also,its price is increasing very high and so,it could also be used as an investment.At the same time,vigorous pumping of BCH price very high.It seems to be a very well pre planned attack.

Hell-raiser

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Quote from: CryptoBry on November 11, 2017, 09:32:22 PM

Quote from: radeone on November 11, 2017, 08:18:27 PM

I feel like this was a powerplay by jihan and friends to take control of BTC. This is the information that I have been looking for... Thank you good sir.

It is sad that their own business interests more than anything else has been the main motivation for all of these things. They are just working for themselves and what they can get out of it regardless of what are the consequences. This is the sad state of cryptocurrency right now and I am now starting to think that maybe this whole thing will not be able to survive for the next 10 years under the same kind of environment.

How will thing thing affect the overall viability of Bitcoin? I am just wondering...

I don't think that the Bitcoin versus Bitcoin Cash showdown bodes well for both.

Apart from that, businesses always pursue their own interests, so we can't really blame Jihan Wu or whoever for what they do. They are just taking an opportunity to grab control over Bitcoin, and that is what any genuine businessman would do given the circumstances. If not them, then someone else would do exactly the same.

squatz1

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Flying Hellfish is a Commie

Quote from: LuanX3 on November 11, 2017, 10:04:12 PM

To be honest, I think someone is really just attacking the network to prove a point that we really need an upgrade. It's either that or the network is indeed congested because of the sheer number of transactions per day. However, I don't think that is indeed the case, since sometimes the network just suddenly becomes empty, probably because the attacker's transactions has reached the point that it was all simultaneously dropped. Well, I hope to read an expert's opinion on the matter.

Well it's not to prove a point that we need an upgraded / repaired networks. It's fact that if a network is under this sort of stress, it doesn't matter what is built in, they're going to have issues with a ton of ongoing spam. They can't handle it and no network is going to be able to handle it.

This is from one of the Bitcoin Forks (eyes on BCH here) in trying to convince the people who don't know much that they're the 'real bitcoin' which we all know they aren't.

Don't give BCH and the rest of the shills the time of die, let them die and support THE REAL BITCOIN FOREVER!

gredisgold88

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it looks like that, it's almost the same as a deliberate or accidental DDoS attack. renewal of the blockchain system and mining blocks will benefit to miners.

LuanX3

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To be honest, I think someone is really just attacking the network to prove a point that we really need an upgrade. It's either that or the network is indeed congested because of the sheer number of transactions per day. However, I don't think that is indeed the case, since sometimes the network just suddenly becomes empty, probably because the attacker's transactions has reached the point that it was all simultaneously dropped. Well, I hope to read an expert's opinion on the matter.

Rousse

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this is great info here sir, thanks for the reading.

Every BCH / BCT scare fan should read this !!

Topic: Where do massive amounts of unconfirmed mempool transactions come from? (Read 575 times)