Bitcoin Forum

As many of you are aware, the mempool is full and overflowing and has been like that for a long, long period, when it comes to Bitcoin time. The last time it went near zero was back in April, and from then we haven't seen any sign of it finally going back to  "normal" times of cheap tx and gaps in which you can consolidate your dust.


Now betting on more acceptance, another bull run, are we going to see an empty mempool again or is this a thing of the past?

I would love to see your opinions but also, more importantly, your reasoning for this!
With enough tx for 3 days worth in the mempool, with hashrate going down because of decreasing revenue so fewer blocks each period which add to this, and not even a tiny sign of ordinal fomo dying down, my bet is on the next year or the holiday season at the end of the year.

 This way outside my wheelhouse but it's something I am starting to look into and learn more about. As I expand my horizons this is starting to become a concern, transactional time and cost.

If the difficulty was reduced would that help?

No, the difficulty has little to do with the capacity of the blockchain except for small variations, during the adjustment periods.
And actually it's the opposite, difficulty going down because miners are turning off their gears leads to fewer blocks in the 14 day interval so lower capacity: https://newhedge.io/terminal/bitcoin/difficulty-estimator

Right now this is how it looks:

Just one day into this period we're down ~3.5%, meaning 8 blocks behind the target so around 20,000 fewer confirmed transactions than it should have been normally.

That would be when what is causing the mempool congestion is no more causing it. But, I doubt that, because people are going for Ordinals which surprisingly I have not known much about it, but it is what that is causing the congestion.

We do not know if there would be another invention that will lead to more use of the bitcoin blockchain, but this is very possible and their may be more congestion.

Halving is getting closer day by day. If more people will buy bitcoin at some point after halving which will result to a significant bull run period, I do not know how the mempool will be so much congested at that time. It will be much more congested.

But with the look of things, I do not think that mempool can be so less congested to the extent it will reach 1 sat/vbyte of high fee priority again.

We need to get our acts together guys. In one side we celebrate New adoptions and on the other hand we complain about network congestion. Network congestion will not go down, rather it will keep on increasing. We may see some periods are less busier than usual but that's not going to stay for long.

With adoption and new users, transaction volume increases. Then there's a madness called Ordinals which is becoming a real pain. Controlling Ordinals will bring temporary result but we need to think about a long term solution. Bitcoin network is  just not capable of handling sudden spike in volume.

I really do hope we get a less congested mempool soon but I am not optimistic of the whole transactions being cleared up anytime soon with the current situation of things and future expectations.
For the network to have less transaction hold up we need either far higher hashrates it significantly less new transactions being made (particular ordinals) and I do not see either of this situation happening.

The next couple of months before the halving will be busy for the network and so will the months after it. Anyone looking to consolidate their small transactions should consider doing it now with the cheapest sat/vbyte they can find.

For us to see those low levels of fees, we're going to need a combination of a deeper deeper more-depressing slow bear market, and a death of Bitcoin ordinals. I think it's a bit unlikely for us to reach that levels of market-"deadness", but it's definitely not outside the realm of possibility. What we only need is a longer 2020 version of market sentiment.

it is already possible for people to gauge fees in kb/sat meaning starting fees can begin under 1sat/byte. meaning priority competition can start levels below sat/byte meaning if cheap/lowest was 4 sat per kb then a 250byte tx would cost 1sat total rather than 250sat for 250byte at a 1sat/byte rate minimum
meaning a 250x less starting point for costs..

thus competition can begin at 4sat/kb and go up by 24x to 96sat/kb* meaning a 250byte tx would be 24sat total for tx at the kb rate premium instead of 4250sat at the byte rate premium

the problem is.. not one wants to start measuring transactions below 1sat/byte, even if code makes it possible



*(24x) much like the priority upto 24sat/byte difference to the lowest 1sat/byte using stompixs fee estimate premium

I have been also waiting for those transactions to go down as well. I used to pass transactions at night, but it is not worth it anymore as used to be.
To be honest, it would take for people to move off Bitcoin ordinals for things going back to normal and being able to send Bitcoin at 1 sat/byte on weekends.

I thought since the price of Pepe went downhill, people would move from ordinals, as investors did with Non fungible tokens, but Bitcoin is such a popular network and with such a volume that it is unlikely people will completely forget about ordinals and the main network will continue to be used to try to scam people with useless tokens.

Even though things look grim and those living in developing countries (like me) certainly miss the low fees rates, it is not impossible for us to see them again.  :)

Well, I voted that never again are we going to see an empty mempool and neither are we ever going to see that 1sat/byte transaction confirmation fees anymore again, and I choose this because, bitcoins growing, both in popularity and usage, so it is expected that transaction will continue to grow.

Put in consideration the developments coming up like all the Bitcoin ETFs and so on, all this things are promoting Bitcoin to a wider range of people, and it should be expected that if SEC signs those ETFs, alot of people that have previously doubted the legitimacy of Bitcoin will come to believe in Bitcoin, and possibly want to invest in it, and when this begins to happen, I means more people using Bitcoin, more people buying and selling Bitcoin, popularity grows, adoption grows and so will sat/byte also grow due high traffic in the Bitcoin network ..
This is what I think concerning this matter, I hope to be corrected just incase there be some misconceptions.

As long as Ordinals and other related shit abuse isn't somehow technically fenced out, I doubt this will happen, I have little faith that we will see "normal" mempool times again. I'm sure miners are happy with the congestion of the past months, though. Blockchain spammers are likely proud of themselves. For the latter all I have is: fuck you!

If BRC20 did not cause any congestion, you people will not talk bad about it this way, but because it is not helping but making you to pay high fee make you to frown at it. That is bitcoin, you can also see that the lightning payment can be used for other things and has been linked to how fiat payment can be made in cross border payment with lower fees if compared with fiat payment. The bitcoin blockchain become more useful and miners are gsinning more money from that while people that have no option than to pay higher fee do not like it.

That's true because i still don't understand the mathematics that has been behind the mempool not going back to the usual 1sat/vbyte again, if it has ever been high then this should have been a thing of the past, by now we are not expected to still keep battling with that, thou i can see that from previous weeks, the fee rate has come down as low as 4sat/vbyte, but in few days back now, i can see a little small increase to about 10 to 16sats/vbyte, nevertheless all the fee rates are not what is beyond affordability since it's lesser than one dollar unlike when it uses more than 10 dollars fee rate when the mempool was very congested, i still insist in that we can still go back to where we are coming from with 1sat/vbyte.

It will come back but I don't know when. Usually in bear market, we will have more chances to see low fee rate like 1 or 2 sat/byte.

Weeks ago, before latest attacks from BRC-20 tokens, mempools dropped to about 5 or 6 sat/byte that gives hope for cheaper fee rates. Historically Bitcoin does not perform well in September and late months of year so without intentional attacks from BRC20 usages, I believe we will see cheaper fee rates.

Next year will be hot so I don't expect 1-2 sat/byte fee rate in most of next year.

1 sat after the bull run, so that's 2025 ;) I don't have much reasoning to contribute to this. Other than the memory of 2017/18 and how crazy things were for the longest time.

Ordinals is dying... if volume and market cap suggest otherwise, it's only because of the sheer number of new entrants, propping up marketcap with hyped interest. The original tokens have never recaptured their May highs so it's just a wave that needs riding out. If BAYC took 2+ years to finally deflate, then that's 18 more months for ordinals to see out their death knell.

I stick to that old saying "never say never" so I won't even choose that option, and I also don't see how mempool would be cleaned of all those transactions in the next 3 months because there is no indication that the ordinal team will give up what they are doing. So I am left with the option that something positive will happen next year in this regard, although it does not quite fit in with the post effects of the halving and the possible approval of the spot BTC ETF in the US.

When we look at the situation realistically, it is easy to conclude that miners have nothing against everything because they earn more from fees, and as far as I understand, although it is technically possible to remove ordinals from the BTC blockchain, there is no reaction even from the BTC developers.

If I were to refer to the other topic (https://bitcointalk.org/index.php?topic=5465874.0), then I can agree that we have to slowly start getting used to the fees, which will be higher than before - but if we look at the value in fiat, the current $0.5 or $1, which the fees currently amount to, have less purchasing power than 3-4 years ago, considering inflation.

Well, I would have voted for a couple of years o so but I don't see the option, I would have to choose between 1 year and never again. The issue of ordinals will take time to disappear from the mempool, and a new trend of this kind could appear that fills it with spam and pushes up the fees. Also, the next bull market is not going to help low fees either, but I wouldn't mind if the price goes up a lot and these fees are maintained or even increased.

It may never happen or repeat itself, that is making transactions with fees as low as 1sat/b. That time seems past to me as it is normal that fees and the cost of things even in life always tend to increase with time. And if you consider how more people are becoming interested in bitcoins and using it not just for investment but for transactions, you will agree that there will always be traffic and sometimes congestion on the network. If you wait for night to make transactions, your night is also someones day, so if you usually experience low fees at night where you are, know that it is just only a matter of time because as the number of users of the network increase at the other side where they are in the day, the fees for transactions will increase as well.

https://i.imgflip.com/3idgb5.jpg

If we could lean more towards incentivisation and away from any notions of "control", that would be more constructive.  This is all about permissionless freedom, after all.  Once we start trying to tell people what they can or can't do with their funds, we're no better than the traditional banking system.

Granted, people generally find the ordinals stuff annoying, but it's not our place to try to restrict or prevent it.  By all means look for ways to make it more efficient, but once one group starts looking for ways to stop another group from transacting, that's a damn slippery slope.  I'm sure you would be speaking in very different terms if someone was trying to prevent you from transacting the way you wanted to, for example.

On Twitter there are many NFT shill accounts that claim they are making big profits from NFTs based on ordinal protocols, one of which is onchainmonkey. since the ordinal protocol appeared, nothing good has happened to Bitcoin, instead The Bitcoin network has gotten heavier and there have even been a lot of congested transactions that have occurred due to heavy network loads.

ordinal protocol developers only care about profit from the shit NFT they sell. liberate the bitcoin network from the ordinals protocol, That's what we should be campaigning for, right?

Op as we know there are a few factors involved in it, Bitcoin Halving, Bitcoin adoption by price boost, Mining difficulty, and Adoption of L2 Solutions. Considering the current market as far it is concerned at least for a few very recent years we are not going to any changes in the meme pool even more congested mempool can be expected, due to the Bitcoin price shoot adoption because of a reasonable transaction count boost, Bitcoin Halving event directly impact the inner behavior and indirectly the memepool as well which means it can't be neglected as well.

As far as the mining difficulty/hash rate is concerned in the lower hash rate a slighter change in the Block Production and slower transaction confirmation can greatly affect the memepool in congested scenarios. FOMO at the very early stage of the Price movement to the ATH can boost the transaction count as well.

Coming to the point of empty Memepool, I think there are a lot of challenges to this expectation but with the support of a few points we can say eventually it might be possible as with the L2 solution adoption the pressure on the Bitcoin network memepool can be reduced and on the Peak of Bull journey and after halving revert due to bullish market sentiments the transaction count decreases by a reasonable number. Except for this I cant see any senerio lets see what other think about it.

On top of all the other crap getting dumped into the mempool the other issue is lurkers.
How many people / businesses have UTXO they want to consolidate and they are waiting for a drop in the mempool to take care of it.

The longer it takes to clear, the more they have to consolidate. It drops to an acceptable level for them, and then they start to do it. And then others do the same, and then the cycle starts again.

It will eventually clear itself, but it will probably be a while.

-Dave

1sat/vb is sometimes results in a placebo effect.

We are at a time when thinking about 1 sat/vb is a thing of the "past," then, in the comparison of the use that we give it a lot, except for the stupid "pepe" effect, things are still advantageous in the comparison with a Swift.

The point is that many continue to move in comparison with other rates in the crypto ecosystem, we must learn to move as situations arise, in the near future making Txs with small amounts in bitcoin network, will not make much sense.

So, that romantic scenario of 1 sat/vb is at least latent, but it subsists in a temporal reality that tends to have in many that mental Praxis in its equivalent of wanting to get rich by buying some Satoshi.

If the ordinals keeps being hyped then it will be a while before we see 1 satbyte. However if the fad passes and the bitcoin and crypto markets are still trading sideways then we might see those low fees. I think last month we got fees as low as 3 sats. But then the markets started to be more active and then the ordinals came back in play.

I also have a lot of inputs I should of combined during those 1 sat byte days however I was lazy and now I will also have to wait or start to pay the higher prices to get those small inputs combined to 1 larger input.

The thing is once fees get low enough, I think you'll see more giant inscriptions taking place... There's probably at least a hundred people waiting for the opportunity to upload a jpeg of a monkey when fees get low enough again. Right now its prohibitively expensive. Inscriptions for the current fad, BRC-20, are tiny in comparison, and they account for the vast majority of all inscriptions.

https://dune.com/jellyz/brc20-track

This is exactly what happened the last time, it seems like the ordinals were dying, that fees would go down, and just as everyone was relieved here came Binance dumping 40vMB of consolidating transactions and sending my next 4 block tx to the next day  ;D
I'm pretty sure there are a lot of users there who see a few satoshis worth of dust in their wallets and are saying that next time if there will be one at all they will consolidate all their inputs even at 3-4sat or otherwise just delete that damn wallet.


I opened that topic about jpg monkeys kicking our asses more out of frustration and boredom but...
https://ordinals.com/block/806896
Like wtf, the last mined block has 3 f*** monkeys in it! Wow!

As for the economic part of this, it seems one of the money was this one:
https://mempool.space/tx/35fb1c78dac16f55e924596746adf6186aa56c33d612e2341cec2e6177c6990c
 25$, would this be "prohibitively expensive"? I have no clue about the profit expectation part, but at 4sat/b it would cost 5$ so everyone would afford to inscribe a picture of whatever he wishes there, which would mean there will never be a 1sat/b time ever gain.

Of course we won't, spam gets better treatment than normal transactions, because of the pools subsidizing it.
It was no placebo, until Feb you could perfectly do it as i used to do after mid 2018 until the start of 2023 before the spam invasion.
1 sat/b tx could take from about 1 or 2 hours to maybe 1 or 2 days. This was perfectly fine for many types of transactions that needed no urgency.
And then came the spam subsidized by pools as an "alternative" source of income to them...
In the past, some pools allowed you to pay to "unstuck" transactions, now the new fashion is pay to spam the blockchain.
It is fine spam a marked crashed, but there is spam b, c, d... or should i say spam r, g, b now? whatever, spam is spam.
Maybe Bitcoin should be renamed Spamcoin, since that clearly has priority now...

And nobody said less than one month which might look like a winner right now
The mempool is drying up at an insane pace:

https://www.talkimg.com/images/2023/09/30/PyF48.png

In just 6 days we went from 200vMB to barely 60vMB and the weekend is not finished so it might go till 30 or even less by Monday evening.
Same as fees from 10-20 on average now 3sat/vb are getting confirmed.

And now that the ordinals are gone, one could ask...where has the actual usage gone?

Transaction count incoming to mempool ended on 19th september abruptly. Like from 7000 to let's say "normal" 1800 transaction vBytes per second (vB/s).  Does anyone know what happened?

https://talkimg.com/images/2023/10/01/Pji5l.png

As long as we keep trying to push for adoption, I honestly don't see this happening anytime soon as demand will keep tx fees high...

And to top it off, our exchanges that are very much vital in the crypto ecosystems do put pressure on tx fees as they always want to get tx in the next block by using higher transaction fees which makes this a continuous process that won't allow fees to drop...

But checking mempool we seem to be close to 1sat/b as I have seen this to have dropped from the high fees we used to seeing...which is only possible because  of the weekend, Monday this will go up .

Bit of a loop, people who were not making TX because of the high fees have walked away a bit. Once they notice that they have dropped fees will go back up.
How many TXs have been put off till 'later' since someone did not want to pay the ordinals tax?

Give it a while for people to find out that 2-3-4 sats will get you in the next block or so and pool will fill a bit.

-Dave

Well, it finally happened... Let's see if my theory holds true or not. For the moment it seems like it may not. Is the Ordinals rush finally over?


Seems like as good a theory as any.

One of the more popular BRC-20 tokens, SATS, was "minted out" on Sept 24th... all 21 quadrillion of them, lol.

https://talkimg.com/images/2023/10/01/PrdLz.png

Now maybe people are starting to discover that nobody wants these tokens and are moving on to the next thing  :D

Here's a tweet that just about sums it up & potentially explains the lull in Ordinals activity:

https://talkimg.com/images/2023/10/01/Pruq2.png (https://twitter.com/GhostofMaplHodl/status/1706932175084335188)

https://coinranking.com/coin/mROMqPxZd+sats-sats

It's as if someone flipped a switch. I didn't have time in the last days to take a look at the Mempool misery that lasted for some months since this Ordinals and BRC-20 shit hit the fan. Now that such a "sudden" drainage started, I'm a bit surprised and pleased. Me too, I have to ask: wtf happened for such an abrupt change? I can't quite believe that other people came back to sanity and dropped Ordinals and all the other blockchain spam.

Don't get me wrong, I'm happy to see a more "normal" Mempool and less bloat written into Bitcoin's blockchain.

the sudden drop is a obvious sign that it was not a large community of lots of random people.. but instead just a couple of people working together and collectively they got bored/didnt make profit and so realised they wasted their time

if it was more random of lots of people the drop would not be sudden nor to any large extent because different people making choices at different times would have varied the production.. so its obviously just a couple scam spammers and not a large community

---

another thing i have to keep reminding people is that we dont have to actually measure transactions in minimum of 1sat/byte which increment by a sat per competitive bidding

imagine if we done it instead as:  1sat/kb
where by a lean 226byte tx is more prefered than a 408byte tx because although both tx only pay 1 sat. the leaner tx uses less space meaning a pool can fit more than 2 lean tx's in the space of a single bloated tx, thus gets more income over all by fitting in more transactions

think about it if a user pay 1sat/kb meaning both transactions are 1sat. the mining pools would prefer 2x 226byte tx's rather than 1 tx of 408bytes. because the 408byte tx only pays 1sat. but 2x tx of 226byte pay a total of 2sat.. meaning mining pools prefer leaner transactions. and it makes users want to make their tx leaner to have more of a better position

EG if you had
p2pkh 1in2out (226) = 4.42 priority
p2pkh 1in3out (260) = 3.84 priority
p2pkh 2in2out (374) = 2.67 priority
p2pkh 2in3out (408) = 2.45 priority

because the leaner a tx is the more priority it gets because the pool can then fit in more tx's paying 1sat/kb

i know some will now reply to argue that no one will want to bid in sat/kb measure as its a huge leap from sat/byte.. but we can always do sat per decabyte

meaning a 226byte tx is 23sat instead of todays minimum of 226sat

Look at the mempool prior to April this year!


I think the number is way smaller than we might have thought before, it would have been one thing if the fee would have hovered around 100sat/b but with it being for months in the 10-20sat/b and the biggest users (exchanges) already paying way above that I don't think there are that many users who have postponed their transactions and they have such a long batch of it to broadcast.
Assuming 20sat/b for a tx it was still under $1 so the most we can expect is consolidation.


Interesting so the dump from 44k to 8k (with a ton of zeros before that I'm not going to count) happened roughly 24 hours after the mempool started its decline and in the same timeframe with the stop in minting them, so it might be possible that the hype and usage was already dead and the congestion was because of the project still going out of inertia and long-missing periods?

It went on longer than I thought it would (https://bitcointalk.org/index.php?topic=5437787.msg61699733#msg61699733).  But it seems 'greater fools' are a finite resource and they will run out eventually.  This silliness was never going to be economically viable on a permanent basis.  It was only going to last as long as people were buying the pictures and not enough people are doing that anymore.

It still saddens me that some people were ready and willing to sacrifice permissionless freedom to try and stamp it out sooner, though.  It would have failed and would only harm the network in the long run.

$1 is 0.00003846 (at a whole btc rate of $26k)
a lean tx of 226byte means the sat/byte rate is 17sat/byte

this means if you know maths(doubt you do)
that if the same lean tx was 20sat/byte the total would be 0.00004520 which is $1.17
and thats for a LEAN tx. average tx are bigger meaning they pay more then $1.17

And it's here:

The mempool having just leftovers
https://www.talkimg.com/images/2023/10/03/P7EUv.png
Only 21 blocks worth of tx left
https://www.talkimg.com/images/2023/10/03/P7F5b.png

The interesting thing, in the poll just one person out of 15 said 1 month which turned out to be true.


Of course franky, of course, you see, the only problem is that you know the ancient math, that one where we only had numbers from 1 to 2  ;)
https://mempool.space/tx/9ed475ae427fdc2862ef2fc556d59130883aeb98902799c8bcddc10639de662e


Not my problem you're stuck in the past and you're using furlongs and pints while everyone has moved away.

dont quote 20sat/b and the pretend you meant vbyte

again you quoted "Assuming 20sat/b". and your exampled link is just 13sat/byte
thats why its only 69c because YOU cant tell the difference

now calculate what sat for byte is at a rate of 20sat per byte. as you first promoted

and by the way vbyte is cludgy misrepresented math that doesnt even count real bytes.. but you do love bad math so i can understand why you prefer to say one thing and mean another

ITT:  Disreputable user takes a contrary stance because they think they're special.  No one else cares and continues to do things in the way normal people do them.

Agreed, lasted longer than I thought it was going to as well. There will likely be resurgences, however they will be weaker and more brief with each passing one. The most hyped artwork was simply clones of pre-existing projects, for people who wanted to own their own Bored Ape or CryptoPunk... Most NFT manufacturers and promoters are largely out of incapable of forming original ideas.


He was tired of being ignored so he decided to take personal shots at the OP to get attention, how classy.

As is often the case, things happen when you least expect them, and given the poll, this was a case in point. It looks like we will soon be able to consolidate on weekends at 1 sat/Vbyte in a few blocks. I remember sending a couple of transactions at that rate last year that were confirmed in the next block.

nah. unlike you ass kissers who love attention and wanna get famous. i just prefer to correct idiots.. not my fault certain people show how foolish they are soo easily

if a OP makes a topic about sat per BYTE and makes examples of 20sats per BYTE=<$1 but then real math does not come confirm his calculations.. and when corrected he pretends he was always talking about Vbyte(a cludge misrepresented and undercounted bad math form) it just easily shows he cant do basic math of basic byte counting and sat counting

but ill leave you guys to ass kiss each other and stroke each others egos to feel better. seems its all you ever do on this forum, back up each other stupidity and junk trash promotions of cludgy code

so a repeat of the lesson:
minimal real byte TX of notmal transaction of expected lean tx of 1in 2 out legacy is 226bytes
20sat/byte=4520sats      4520sats = $1.24 today
and thats for a lean tx.. an average tx is nearly double the bytes so average tx is over $2

We're breathing fresh air once again. It seems the mempool is now free of dead monkeys, or perhaps only a few are left. I don't know if it hit 1 sat/vB for high priority transactions ever since the ordinals took over the mempool, but yesterday it went as low as 2 sat/vB. Right now, it's still low at 4 sat/vB.

There wasn't much who participated in the poll but it's funny how the majority thought this will not subside ever again. Many also thought this will only subside next year. Little did they know it would only take even less than a month for it to clear out. Perhaps even OP wasn't expecting this since the shortest option in the poll was 1 month.

Just like any hype, those monkeys couldn't live long.

funny part is im not the one trying to get an ass kisser army of idiots to start using crap you lot promote
i dont promote things nor try to incite people to join me in any campaign or promotion of crap things
(you loved seeing the meme crap on the network causing a fee war, you promoted it too)

anyways
it is VERY EASY for users to start measuring transactions in decabytes meaning a lean tx of 226byte can start from 23sat total meaning a ~0.1sat/byte average. and if everyone started measuring transactions from a starting point of 1sat/decabyte then we can see the whole community then compete for priority at a better cost average start point (later measure tx from 1sat/kb)

but hey i understand that you lot dont want to think outside of the box of certain software defaults or think about maths properly

You do realise the odds of everyone suddenly thinking the same way you and your special brain do is pretty remote, right? 

If you insist on always having such a "unique" perspective about everything, then you can't expect people to agree with many of your views. 

It's as though you're perfectly cognisant of that fact that you're out of step with everyone else, yet you still get pissy about how everyone else is out of step with you.  Make it make sense, plz.



No, the funny part is you wouldn't be calling us an ass kisser army if we happened to agree with you all the time.  You and your ego would fucking love that, even though in such a scenario that would make us ass kissers towards you.  Again, you insist on having batshit mental stances on everything, so it's only natural that the number of people agreeing with you is going to be minuscule.  Please cry more.

funny part is doomad  and is dozen soldiers promote crap that has less userbase then things not even advertised.
funny part is he thinks because he has 12 people that kiss his ass that must mean everyone prefers his minset..
funny part is doomad and chums try to kiss a certain dev/mods ass and hope to earn merits as pats on the back for ass kissing
its funny because i criticise that same dev/mod and i dont care about merit or pats on the back.. yet that dev/mod gives me merit more regularly than doomad

its funny that doomad and his kiss ass army of 12 have not realised their ass kissing doesnt work. their campaigns fail and they just make themselves look stupid


i understand that doomad loves to recruit idiots into his schemes and defends those cult recruits idiocies with compliments and tell them them to ignore and block anyone that goes against the doomad cult mantra.. but cult leader is gonna be cult leader. and he will never change

but atleast the wider community can learn from others mistakes
and yes correcting mistakes is helpful, not ass kissing idiots

if people dont like to be corrected, they will never learn

anyway back to the point yet again (after the distractions of the cult group defending each others sensibilities)

the easiest ways to start seeing transactions bid as low as 1sat/byte again is to start using 1sat/decabyte so bidding starts lower than 1sat/byte to allow wiggle room for competition before even getting to 1sat/byte... instead of expecting the minimum being 1sat/byte where they then expect bids to go to that min in a competing market(facepalm)

I missed that.

Was it a high priority when it's got down to 2 sats/vB and 4 sats/vB? High priority is at 30 sats/vB and low is at 11 sats/vB.

It probably because we're getting used to the higher fees and that's why most of us likely did just let it go and thought that it will take any longer.

Yeah, those were the fees for high priority transactions. I didn't take a screenshot when I checked the mempool. But I think OP has posted some pics. The plunging fees and draining mempool were also the talk even outside this forum. Anyway, you can check on the chart below how things were much lower yesterday and the other day. But changes were fast. Of course, that's expected. Many were waiting for the fee to go down and when it did they quickly took advantage of it. That's always the cycle.

https://www.talkimg.com/images/2023/10/05/Pp7E1.png

Anyway, below is the screenshot of the situation right now. It has gone down again. It's always best to check the mempool first before broadcasting transactions to take advantage of the transaction fee fluctuations.

https://www.talkimg.com/images/2023/10/05/Ppg2W.png


Perhaps. I hope it wasn't because we already resigned to the thought that the monkeys have already taken over the network.

Ahh, that was just a quick clean up and then went up again. As I have posted that response yesterday, it was higher than this time so there's an improvement that we're seeing from the mempool and fees have gotten lower and hopefully will continue to do so.

I guess that changes now because we're starting to see that fees changed positively and crossing fingers that these spams/ordinals will just be there and won't impact anymore the fees.

I didn't vote because I don't know whether it will happen in 3 days or 3 months or 3 years. I just know that it will happen when Ordinals, NFT or whatever else they're called will die out. As soon as it will happen, we will get back to normal mempool of legitimate transactions and low fees.  8)

I've had a pending 1 sat/vByte transaction for several months. After the Ordinals and BRC-20 spam started clearing I was hoping it would receive confirmation over the weekend. The most recent difficulty adjustment was a few days ago but less transactions volume has led to declining hashrate and as a result the average block time has gone up slightly so it might still take a while to fully clear the mempool.

And just when you thought everything is fine..
https://mempool.space/address/bc1quhruqrghgcca950rvhtrg7cpd7u8k6svpzgzmrjy8xyukacl5lkq0r8l2d

Bitfinex comes and tries to consolidate its dust with 20 blocks worth of tx paying even 50-60sat/b, because obviously, their script is detecting their won transactions in the mempool so they were trying to compete with their own so from 2sat/b in just a few hours we're at 40. When you think that there are still a ton of other exchanges waiting for this then probably it will take more than three weekends for everything to normalize.


The number of transactions in the mempool has no effect on the hash rate and the block time pace is almost normal:

Makes you wonder if it was supposed to be be 5 - 6 sats /vb and someone munged it.
The mempool was at spot that those TX would have slowly cleared over a bit of time.

I know I have said it before but never think it's people doing something wrong deliberately when incompetence is just as likely.

As we see from the hacks and other issues just about all the exchanges out there have crap programming.
This could just be another case of that.

-Dave