Bitcoin Forum

https://i.imgur.com/6b0ptnn.png

WTF IS GOING ON?!?!?
There are 26k transactions in queue ... over 70MB mempool and the 3 largest pools are ignoring them entirely.
I hope all these get orphaned.
FUCK YOU CHINESE POOLS, fucking go rot in hell, thanks for ruining BTC along w/ ur spammy attacks.

That is bullshit.  Fill up the damn blocks.

...

Beat me to it, GenTarkin!  I noticed the same thing, and started a new thread right after you.

This kind of greedy short-term thinking contributed (as far as I can tell) to the problems of a few days ago.  Now we are under attack by spammers, the last thing we need is a little extra greed feeding off the system...

So why exactly are they not including other transactions in those blocks? Do they solve them faster if they include less TXs or are they only doing this because they want people to add bigger fees?

This isn't right, isn't there a protocol that stops them from doing this?

Its the price of freedom man. Imagine if btc network was hardly used, blocks that had 0 tx's in them would have to be allowed.

For all we know they may even be in cahoots w/ the spammers. I dont know why they would be , it would be destroying their own revenue stream by making btc unuseable for everyone that isnt knowledgeable on how tx fees work.

Also, the only benefit I know if is bandwidth saving maybe, memory saving? not to sure.

I vote BTC to go to Proof of Stake and stick them all with worthless ass equipment if they won't do their jobs.

Or

Just sit them out and wait for them to go tits up (go broke.)

Lol just noticed the same thing. Over 26k tx unconfirmed until now. Where is the low fees? Isn't this already a move to force users to pay a high fee in order for their transaction to get settled? This is bullshit.

Those 3 blocks were hashed almost at the same time. They are not empty deliberately.
Basically, when a mining pool sees that a new block has been mined (by receiving the header) it gives all its client miners an empty block template - as a temporary measure - while the pool receives and validates the new block, and constructs a tx filled block template for its miners. This takes time. It takes more time when the mempool is full of spam and it has to filter through junk to get decent fee-paying tx. Sometimes a block is mined before the process of building a decent-sized block is complete. The Chinese pools all want to mine big blocks, including ones >1MB (but can't until something like BIP 100 or 101 goes live).

wow, 29.7k transactions unconfirmed, I never saw higher number, is this new record?

anyway yes, this is exactly, why bitcoin should be decentralized as much as possible. in current scenario of 5 big mining pools controlling majority of total hashrate this was imho more than expected. just consequence of fact, that mining is only for companies..

What do you mean jump ship? Go LTC?

Miners are free to add whatever transactions they like to their blocks, except the coinbase one which is compulsory.
There is an increased risk of their block being orphaned if it is larger with more transactions.

It would be better at this point. Little late, but still better.

only until this whole mess will be sorted out, then back to bitcoin, i'm sure many are already doing it

is good to have an alternative like litecoin, when the main ship is damaged

But unfortunately we cannot dictate mining companies to reduce their farms because it's their business. As long as the companies have the efficient and fast equipment to hash, they will mine and mine even if the mining scene turn out to be a centralized scene. Switch to a different method, maybe? PoW sure secures the network, but it prevents decentralization to happen.

Time to go for 20MB blocks..... FUCK THE CHINESE PIECE OF SHIT

The same ppl who attack the blockchain pump LTC as an investment in Pyramid scheme. If we allow them to do this, crypto is a joke to everyone.

OP, feel free to create your own altcoin where authoritarian standards will apply and you'll be able to simply kick out any miner that doesn't abide by your block creation standards.

Dont be a fool, the LTC was pumped as a pyramid scheme by a group of Chinese miners.... They're also the one doing the spam attack.

Hint for you: they're dumping their LTC to fools who "jump ship"

EVERY SINGLE ATLCOIN PUMP AND DUMP 's goal is to increase their BTC holding. Learn this and you can see why altcoin market is a joke.

go ahead and jump out of the space ship.  :P in case you haven't notice the price just went up again overnight, now hovering above 280$

What is the logic behind this? Most people do not even understand the fee structure and just use the default values.
Only a few people, who does understand this, would increase their fees. The only thing they are doing is to alienate new users, who only see the slow transaction confirmations. When these people leave, the demand decrease and their coins are valued less. They also had to push in a bunch of money to start this backlog, so it neutralize the profit they would be making from the increase fee's?

I get what you're saying. But don't tnink LTC is like others pump and dump shitcoins. We'll see what will come from this.

dont think, because thats where you're fucked. just look at the fact.

you have it https://wiki.nxtcrypto.org/wiki/Monetary_System    Bitoin POS is now  :D

Litecoin? No thanks

GO POS..!!  :D

Nxt with POS will never have such problems...No fear of centralized mining or 51% Attack  :D

Maybe BTC will one day be a coin on the Nxt Monetary Platform. Then it would Benefit from The Nxt blockchain but still have the benefits of BTC.
But I guess that won't happen in the near future.


In the mean while hope that the Pools and Unconfirmed tx wont mess up the price, quite enjoying the nice price increase.

Always the same "OMG bitcoin is dooooomed!!! Buy altcoin XYZ right now, its the future!!"
then price goes up and later comes crashing down... fun times

Right, as if altcoins are not subject to attacks and schemes. They are just not worth as much the effort compared to bitcoin.

i hope the chinese NEVER process any of the dust and spam backlog.

dont like it?  stop using btc to send pennies and go send some real money.  

are all of the complaints from dice players and penny traders mad their fractional pennies aren't going through?

Thanks for explanation.

All seems OK now, blocks are nearly full and number of unconfirmed txs fell to ~10k (from 26K)

This is suicide, it's crazy.
Why they are ignoring them? It's may ruin bitcoin, that's bad.

Anyone looking to "jump ship" from bitcoin, I will offer you 1/10th market rate for your coins.

This is great news, and shows Bitcoin's vulnerabilities.
Do you want Bitcoin to be a success? Then make it immune to such attacks, instead of being a crybaby. People with agendas exist in the real world, an attack would happen sooner or later. Do you think everyone would be nice with Bitcoin? lol. We have to make Bitcoin ready with a nice diamond armor to be able to resist any hits, we can't hope on the good will of human beings out there, that is just delusional. Its better than this happens now and not later when BTC is huge.

Why are users not leaving such pools?
They should leave them and also those that generate invalid blocks. Those should be booted out of existence!

Invalid blocks?

Be great if Bitcoin can just switch over to a POS system and still have the ability to mine its coins while preventing big ASIC companies capitalizing this..

Seems like its already doable... Any current minable coin right now can piggy back on top of an existing POS coin to take advantage of the security features:

https://i.imgur.com/pjKd9Kl.png

Nobody said these pools wanted to build a block with only one transaction... Where is the data that makes that a fact?

Everyone on this forum blathers on about "rational actors" and "self interest". Here's the perfect example of that. These rational actors are working in their self interest by making blocks as small as possible so they can propagate faster and thus have a better chance of claiming the block reward.

It would be a monster issue if more pools decide to start doing this. Why deal with transaction fees if you can have your found blocks propagate faster and get the reward?

Version 2 blocks. This is also related to the warning in the header of the forum. Some miners are still generating invalid blocks.

Details here Some Miners Generating Invalid Blocks! (https://bitcoin.org/en/alert/2015-07-04-spv-mining)

You folks all realize that Coblee fixed this issue in Litecoin years ago, and advised Bitcoin devs that this was a problem. They didn't listen.

Hate to say this, but Litecoin is now the standby alternative if btc doesn't get it's act together.

Fun times indeed, especially playing in the altcoin market in order to gain more btc. :) Well, there is btc in the altcoin market. It just so happen that almost every altcoin being introduced in the market is a pump and dump scheme, which is kinda unethical and unfair to most of the traders.

People has been repeating a million times now why the devs haven't included yet the LTC fix, even cobble made a reddit post about it, yet I haven't seen any dev addressing this in here. Did gmaxwell say anything about this?
This should be a quick fix that doesn't need any fork or anything fancy, just a software update.

Beg your pardon, How do you precisely come to an conclusion that it is from Chinese pools, have you got any IP Address proof or it is an assumption, I'm curious to know it, your little explanation is appreciable.

But it appears to be much more common than back in the old days.. They must have some kind of thing going to fill a certain percent of their blocks with nothing..

I agree with the racist remarks. If they left tho, someone out there would take their place, remember that this is a self regulated system, if you leave, difficulty goes down, and the next guy gets the profit.

Well, despite all something needs to be fixed.

I've been waiting now for 3 hours for my not-insignificant bitcoin txn with fee to be confirmed.  It hasn't yet.

Floating fees, larger block sizes, and other tweaks would be good but my understanding is bitcoin code is in gridlock right now.

You're not alone. There are transactions with the minimum fees on it that aren't confirmed yet by the network. Some of them as old as 42 hours now. Larger block sizes aren't needed right now imo. People are suggesting that because we are experiencing some "testing" in the network when in fact, a normal day on the network isn't requiring that much space for transactions.

Not yet but it will one day.

Also, I run a full bitcoin node, taking nearly 50GB of drive space.  You'd think that would count for something.  Transaction is still sitting there...

Hey

If you want to stop chinese to get all the hashrate then mine on kano.is, bitminter or slush.  ;)

Mine on others pools is the minimum you can do!  ;D

Those blocks were mined within seconds of each other. It is common that close consecutive blocks are tiny blocks with little or no transactions. The network functions like that for many years, it is not because of malicious pool, Chinese or not. I have seen Slush and BTCGuild done that before a lot time ago when they were the stronger pools.

Solex has a good explaination on the first page:
https://bitcointalk.org/index.php?topic=1116582.msg11838710#msg11838710


The proposed "fix" raises fees for small outputs. The current spam transactions have large non-dust outputs. The "fix" wouldn't work for this attack.

As long as these pools have an advantage by not implementing any transaction, they will proceed to do so. It's better for them because this block is small and will be propagated between the nodes pretty fast. A 1MB block will be very slow so these pools have the chance to orphan other blocks even when they found a block a bit later then another miner found a 1MB block.

That won't stop and this will only get worse with bigger blocks. I don't know what to do against.

+1

A very intelligent explanation, totally ignored by basically every subsequent response :(