Bitcoin Forum

The idea was mentioned in this thread https://bitcointalk.org/index.php?topic=553639.0 in 2014, but now it looks like it may be finally happening.

The mining cartel may exist, and they will fill any extra room in the blockchain with zero fee or small fee transactions to ensure that blocks are full and people are then forced to pay higher fees to get accepted in the blockchain by both the cartel miners and those outside of the cartel. They could have their mining software configured to accept zero fee transactions from themselves while rejecting zero fee transactions from others.

If the mining cartel is big enough then the money that they make from this is enough to pay smaller transaction fees to fill up blocks mined by non cartel members to ensure that they have high fees too isn't it?

I I remember correctly, I've noticed full 1MB blocks go by and by and then there will be one smaller block. What are these smaller blocks? Isn't the pending transaction pool really big right now? Did they configure their miner to only accept high fee transactions?

No matter how big the blocks get from SegWit or hard forks they can always fill them up until people are forced to pay high fees.

The only thing stopping this is when people stop doing Bitcoin transactions to avoid the fees, then the cartel lowers their prices.

This topic is outdated. Fees went back to normal a long time ago. Now stop this FUD, willya.

Interestingly enough I read somewhere that fees went back to normal after AlphaBay shut down. Funny stuff :)

Nope the fees went back to normal several days or even weeks before, what it happen is that whoever was spamming the network has stopped, may be they stop because with the imminent segwit activation it is no longer a wise economic decision to keep the spam going on the network.

You already know who was spamming the blockchain network of bitcoin. Take a guess please, they were the guys trying to divide bitcoin into subgroups. Bitcoin is free and stay free, never forget this. Satoshi's philosophy won't be changed by others. Transaction fees will be more fait in the future hopefully.

The idea was mentioned in this thread https://bitcointalk.org/index.php?topic=553639.0 in 2014, but now it looks like it may be finally happening.

The mining cartel may exist, and they will fill any extra room in the blockchain with zero fee or small fee transactions to ensure that blocks are full and people are then forced to pay higher fees to get accepted in the blockchain by both the cartel miners and those outside of the cartel. They could have their mining software configured to accept zero fee transactions from themselves while rejecting zero fee transactions from others.

If the mining cartel is big enough then the money that they make from this is enough to pay smaller transaction fees to fill up blocks mined by non cartel members to ensure that they have high fees too isn't it?

I've noticed full 1MB blocks go by and by and then there will be one smaller block. What are these smaller blocks? Isn't the pending transaction pool really big right now? Did they configure their miner to only accept high fee transactions?

No matter how big the blocks get from SegWit or hard forks they can always fill them up until people are forced to pay high fees.

The only thing stopping this is when people stop doing Bitcoin transactions to avoid the fees, then the cartel lowers their prices.

Nope the fees went back to normal several days or even weeks before, what it happen is that whoever was spamming the network has stopped, may be they stop because with the imminent segwit activation it is no longer a wise economic decision to keep the spam going on the network.

There have been a lot of speculations about who was behind the attack , the most logical one to me is that the miners were the ones behind it, a spam attack will be very costly if you did not control a good portion of the hash power so all points to the miners being the ones behind it.

I can barely do transactions now under 100-200 USD in Bitcoin otherwise the fees are still pretty high for my liking.

Yeah, exactly,  and that wasn't "a long time ago".  There's also no guarantee fees won't skyrocket next week either.   I recall trying to sell about $50 worth of bitcoin and my damn wallet was saying I had to pay like $8 to send it low priority.   Needless to say I did not do the sale.  That was last month I think, so we are by no means out of the woods. 

And what happens when btc reaches $100k?  20k satoshis is going to be a big deal then.

Ok, let's calculate the transaction costs of gold for international transportation

There have been a lot of speculations about who was behind the attack , the most logical one to me is that the miners were the ones behind it, a spam attack will be very costly if you did not control a good portion of the hash power so all points to the miners being the ones behind it.

though this is a non issue anymore, others are right that this issue could reoccur.  the one behind tbe spam transaction can go and spam the network again. hopefully segwit would be enough to counter those attacks so the fees will not rise again. though the miners benefit from those attacks, i do not think they are behind it.

I'm just new in the crypto world but I would say that I didn't find high transaction fees issue for me. If you want your transaction get faster confirmation then its logical to pay high fees right? So I don't know why is people complaining about high transaction fees if you can control how much you want to pay the miners to include your transaction in a block.

The issue with the fees is that even if for you the transaction fee is not that big, you must understand that bitcoin need to work not only for those that live in the first world and that can afford 1 or 2 dollar fees, in a third world country that may mean a full day of work, so the issue needs to be solved somehow, and segwit may be a short term solution for that.

though this is a non issue anymore, others are right that this issue could reoccur.  the one behind tbe spam transaction can go and spam the network again. hopefully segwit would be enough to counter those attacks so the fees will not rise again. though the miners benefit from those attacks, i do not think they are behind it.

10 grams of gold (around 0.15 BTC) in an envelope. $1.20 postage 99.5% chance of arriving without issue That's a 0.0012 BTC fee.

This topic is outdated. Fees went back to normal a long time ago. Now stop this FUD, willya.

This topic is outdated. Fees went back to normal a long time ago. Now stop this FUD, willya.

Definitely,its an outdated topic.The issue of high transaction fee has almost been resolved.Segwit has been mainly activated for that purpose only.Bitcoiners eagerly awaited for segwit to be activated and now after its successful activation,every thing has become normal and its useless to have such topics now.

Maybe it was the exchanges doing the spam attacks in order to push segwit and off-chain scaling through. I bet Coinbase and Blockstream are under lots of pressure from the banks and governments to take complete control of Bitcoin. Now that they've penetrated the blockchain with segwit, it looks like the banks are winning. So sad.

This is unlikely it has been shown that in order to spam the network you will need to a big chunk of the hash power if you do not then the spam attack is going to be very costly, besides I do not see why exchanges will like to have segwit or any other option, what do they have to win with this situation? The ones that had a lot to win spamming the network were the miners.