Bitcoin Forum

As we know we are not supposed to make any Bitcoin transactions to avoid the mess but still, I can see around more than 5K unconfirmed transactions on Blockchain.info's unconfirmed transactions list and since it is a real time, I am wondering who are these people and why they are doing these transactions?


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

Credits: Blockchain.info (https://blockchain.info/unconfirmed-transactions).

I am not doing any transaction since past couple of days and not planning any for next 4 days as a precaution, but worried about these users.

Update: Locking this topic as it is no more relevant with the time.

Some people huge risks, always.  Why did people buy WorldCom stock right before they
went under?  Why do people buy shit coins?  This community loves risk, so none of this
should come as a surprise, and I'm sure there are people who want nothing to do with the
fork and are just unloading what they've got.

Can't wait until tomorrow to see what happens.   I feel like a kid on Christmas eve!

Don't you still have some time left to do some transactions? If you're using a high enough fee to make sure that it gets confirmed in time.
I know Crypto-Games is still accepting deposits and withdraws until 18:00 UTC

Also, the chances of there being a split are pretty slim now.

I doubt if ALL Bitcoin users in the world know about the "changes" and "risks" that these transactions might cause. They are

too busy making money on trades, to worry about this. You also have some people who will trade until the last moment and

then move their coins into cold storage. They might think that the price might crash after the 1st of August and that they want

to capitalize on the high price we have now.  ::)

The risk of a split is still there even if the risk is very low, I think there is a chance some people are getting in and out of exchanges depending on their plans, those that want to get out, probably want to be as safe as possible, but those that want to get in probably want to take advantage of what is going to happen with bcc.

Even though many people suggesting them from many days don't do any transaction before and after 2 days. May be after Segwit those transactions will be confirmed may be. I don't know what these people are doing and to where they are sending because many exchanges have stopped the withdrawals and deposits but people are still transferring Bitcoins strange!

It is probably BTC-e laundering all of the stolen Bitcoins.

Seriously, they stole 66,000+ Bitcoins and they are "mixing" them up as we speak. Such a shame that people stoop so low. Why not just open your exchange and be happy making $20,000 a day? Why do they feel a need to take that which does not belong to them? Sad.

well, we can not give up life just because there is a possibility of a fork coming! there are still a lot to do with bitcoin and many are still continuing to do it.

also you need to understand the risks not just know some risk exists and fear it for no reason. read the NEWS link on top of bitcointalk for more information.
as a summary the risk was mostly due to BIP91 and BIP148 because they are designed to "reject" blocks that are not compatible with their setting and rejecting means possibility of a long orphaned block and that means a transaction that was confirmed with 3+ confirmation becomes unconfirmed and it is only risky if the sender double spends it. otherwise it will be confirmed in another block on the longest chain!

with that said the risk is nearly 0 now that SegWit (what both BIP91 and BIP148 wanted) is being activated in 100% of blocks. so there is no block to reject!

edit: just thought of another usage in time like this: wallet cleanup :D
you spend all your small transaction outputs in your wallet with a very small fee and make a new big transaction. i call it dust cleanup.

Well probably, there should be some explanations on this why they are still doing transactions, probably they don't know or have no idea what fork is and still doing transactions until now or they made transactions to transfer their Bitcoin to safety but by doing it is to risky. I was also thinking transferring my BTC into a safer wallet earlier but I don't want do it because I don't wanna risk my BTC that I saved and earned for this couple of months. So I did not do any transactions, also some of the wallets can do express transactions so they might have done that so that the transaction will be done before the fork. I hope people do understand the risks and understand what will happen tomorrow. What we can do is watch and wait until it happens and good luck to those who made transactions that were not approved during the fork.

They are normal users just like us, only that they probably have no idea about what's going on or are still trying to move their coins out of exchanges.


There won't be a split, the problem is BCC.

It's funny how there are completely no transactions coming from Africa and South America. Are they that smart or maybe the number of bitcoin users there is so small. Probably the latter...

As for the transactions, some people don't read the news and don't use the forums. They are busy with other things, job, kids, you name it.
For example, a guy is at work every day, comes home and hears the news: Honey, fridge broke so I ordered a new one, get some cash ready, and my car needs to go to a mechanic too, it's gonna be at least $1000... So he thinks, I have some bitcoins, I'll send one to an exchange and have cash on my account in 2 days! Guess not ::)

That might be one of the possibilities or maybe they have lots of bitcoins to experiment and they want to see what happens to their bitcoins. Although most of the exchanges have stopped deposits and withdrawals and most of individuals also are avoiding bitcoin transactions yet the price of bitcoin is rising even now that's also something to take note of I guess so may be I'm wrong.

Maybe they were pending transactions with low fees and now that others are off chain they are left hanging in there until the right confirmation times .

Either risk takers or bitcoin users that either don't know about or don't fully understand the upcoming fork. Shoot I don't understand it completely myself but believe it or not there are users out there who follow news regarding BTC at the minimalist of levels.

I think those people just want to earn money or just exploring how it good or bad they will experience.

Agree that some of these people might not be aware of the activities happening on the Bitcoin network and thus they are assuming that everything is normal. Even as of now there are 900+ transactions pending on the list but I think this is the effect of the latest update. However, as a safer side, we should not transact unless and until the green signal from the centre.

Russians, Americans, European, and Chinese are still making the majority of transactions and it could even be the exchanges moving BTC around in cold storage etc, off the exchanges so they can collect all the BCH to give to the customers. That's just one idea I guess and the other is people are clueless as to what is actually coming and what a fork is.  ;D

No one would knowingly dare to take such risks.I think not all the bitcoin users are aware of the hard fork possibility and that they should not do transactions to avoid losses.But,there might be still a small percentage of people who are more confident that hard fork would not occur and so just continue trades,transactions thinking that all the discussions about hard fork were just FUD and so better to ignore it.

Why are you concerned about them? Its not your losses. They might not be aware of the August 1 event and thought of it as a propaganda or scam. Or maybe because of different time zones where they are expecting it to be the next day.

I think maybe a large portion of people who understand the technology realize that there is very low risk of any lost transactions and very low risk of any actual errors.  There is likely going to be a hiccup in time before it carries on as normally, only better.

Enjoy the fork, be the fork.  Just kidding about the last part.🦋🦋

Not all bitcoin users are aware of the big event, maybe they didn't notice some public announcements. In that case these people are suffering headaches now for sure or got some hypertensions. I just pray that their agony in transactions are not too brutal.

People like us that connect or lurk the forum everyday are not that common most of the bitcoin users do not read news about bitcoin everyday or discuss about it, so it is very possible most of the transactions that happened just before the fork were people uninformed about the situation, this should be a reminder to all of us, if you have been out of the bitcoin world then make a small research before you send any money.

-They might be people who are just clueless of the fact that bitcoin forked recently. There are a lot of people who aren't on the forum and don't pay attention to bitcoin news, therefore making transaction.

-Might be desperate people, someone who needs to gamble, or someone who desperately needs to pay back a loan or ask for a loan.

-Might be people who just like taking the risk of it, who knows. People do love doing risky things and that

Well they seem to be uninformed individual of some sort or they are causing unexpected traffic on blockchain. No matter what their reason is, they are the one who will suffer for any consequences that might happen. I think we do not need to mind them.

Perhaps they use bitcoin but are not really tracking on what the updates on bitcoin are. They may not even be here on this forum most probably. If they were, they would not have risked such transactions during such times that such transactions are highly avoided.

Well even if it's not my loss, I think as a moral responsibility of Bitcoin user, I am supposed to share the possible threats related with Bitcoin which I am aware of and hence I raised this topic.

Bitcoin is valuable not because of any other reason but the strong bond and faith of the Bitcoin users thus if we are enjoying the benefits then it is our responsibility to perform our moral duties too.

By the way, I haven't seen any issue or topic of losing Bitcoin during the period. Now this thread is our of time and no more relavent so I am locking this topic.  Thanks everyone for their opinion.