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Bitcoin => Bitcoin Discussion => Topic started by: ArthurY on November 09, 2023, 08:38:55 PM



Title: Is anyone saw mempool right now? Mempool spam
Post by: ArthurY on November 09, 2023, 08:38:55 PM
Mempool right now seems to be in spam
Transactions almost for 500mb is stuck
Seems like it's will freeze

High priority tx fee will cost 182 sat/vB  ???

What further steps will look like if this spam continues?
I don't remember this happening before in history

Miners are having a blast right now he he  ;D ;D


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: Charles-Tim on November 09, 2023, 08:53:07 PM
Let us expect more during bull run as there would be more congestion. You can use lightning network which would be helpful in time like this.

I don't remember this happening before in history
Although, Ordinals and Inscription have been the reasons the mempool is congested up to this, but bitcoin mempool has been congested like this in the past when there was nothing like Ordinals.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: BenCodie on November 09, 2023, 08:56:39 PM
I've just gone back to the sidelines as the mempool is not the only thing with anomalies right now. If you look at btc and most of the altcoin market, there was a huge drain of liquidity/liquidity grab market wide. Some alts/tokens dumped around 50% in just a matter of minutes...only for AMM'S to recover the price, but liquidating longs and stripping the book of its strength.

I am curious to see how the Mempool flood and the liquidity grab effects the market over this next week or so. This could effect sentiment quickly.

Also, there have been mempoool floods before, most recently around the time that Ordinals were new (earlier in the year). It costs money to spam the chain, so the attack will have to stop eventually.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: jossiel on November 09, 2023, 09:02:34 PM
What further steps will look like if this spam continues?
Bitcoin's price will continue too.  ;D

I don't remember this happening before in history
Remember the time when ICOs have been that much and it has affected the ETH network. The fees for a coffee was about $10 and I think we're going back to that time.

Because IIRC, the fee for Bitcoin transactions during that time was also high back in 2017 bull run.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: coolcoinz on November 09, 2023, 09:13:34 PM
Miners are having a blast right now he he  ;D ;D

And that's why it's unsustainable for the long run.

Imagine the following situation. You're in a cue to whatever, a car wash, and that cue is in a private area, so the owner of the property can kick you out if he decides to.
Someone comes in and says they'll pay double for the service if they can get in right now, so the owner stops you and lets him pass. You get angry because you have to wait, he paid double, the ownetr thought to himself that if he has to deal with angry mob he might as well ask more for the spot in line, so they all start to bid for spots so they can wash their cars without waiting. At some point the price gets pumped so that they pay so much for the spot that they could wash the car 10 times with that money if they'd only wait.
How long can this keep going? Eventually they'll realize how much they're overpaying or run out of money.

I'm not paying $20 to send a $50 transaction. Are you?


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: BenCodie on November 09, 2023, 09:14:21 PM
What further steps will look like if this spam continues?
Bitcoin's price will continue too.  ;D

I don't remember this happening before in history
Remember the time when ICOs have been that much and it has affected the ETH network. The fees for a coffee was about $10 and I think we're going back to that time.

Because IIRC, the fee for Bitcoin transactions during that time was also high back in 2017 bull run.

2017 was from natural demand causing a busy network, or miner manipulation to capitalize on fees. It could be the latter now but I am quite sure the the current situation is a sponsored attack, more than it is just a busy network.

Since 2017, most networks have implemented improvements to make them increasingly scalable. It is unlikely that purely legitimate blockchain network traffic will cause a prolonged spike in fees, especially with available layer0/1/2(and now 3's) that are available.

What further steps will look like if this spam continues?
Bitcoin's price will continue too.  ;D

If we're talking specifically about a network stress attack, then actually, it can stall price movement and additionally effect sentiment, as it temporarily highlights a flaw in usability and scalability for Bitcoin. It may be good for altchains that are more scalable, like ETH. It depends on the trajectory of the attack.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: ArthurY on November 09, 2023, 09:15:54 PM
Remember the time when ICOs have been that much and it has affected the ETH network. The fees for a coffee was about $10 and I think we're going back to that time.

Because IIRC, the fee for Bitcoin transactions during that time was also high back in 2017 bull run.

But it doesn't look like a bullish trend. It's just spam. Many transactions with the same inputs & outputs


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: gunhell16 on November 09, 2023, 09:18:38 PM
Mempool right now seems to be in spam
Transactions almost for 500mb is stuck
Seems like it's will freeze

High priority tx fee will cost 182 sat/vB  ???

What further steps will look like if this spam continues?
I don't remember this happening before in history

Miners are having a blast right now he he  ;D ;D

182 sats? You've got to be kidding me. It's big. A couple of days ago, I made a transaction and the fee was around 40 sats. I was getting bigger, and now it's like that right away.

The fact that it is congested is getting worse now. Well, as usual, let's cool down the situation now, because if we insist on what will happen, the miners will be happy because of the fee they will charge for each bitcoin transaction. Something that is not good on our part as bitcoin holders


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: ArthurY on November 09, 2023, 09:19:13 PM
Also looks like each new block cost attackers about 70k
However if miners in deal should be cheaper


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: BitcoinPanther on November 09, 2023, 09:22:23 PM
I've just gone back to the sidelines as the mempool is not the only thing with anomalies right now. If you look at btc and most of the altcoin market, there was a huge drain of liquidity/liquidity grab market wide. Some alts/tokens dumped around 50% in just a matter of minutes...only for AMM'S to recover the price, but liquidating longs and stripping the book of its strength.

I am curious to see how the Mempool flood and the liquidity grab effects the market over this next week or so. This could effect sentiment quickly.

Also, there have been mempoool floods before, most recently around the time that Ordinals were new (earlier in the year). It costs money to spam the chain, so the attack will have to stop eventually.

Developers tried to tone down the price of transaction fee during the heavy fee of 2017, reason why they implemented segwit to solve the problem.  It indeed solve the high tx fee of those time and I hope the developer will do the same today.

If these ordinals spam are keep unchecked, this might create a problem in the future.

If we're talking specifically about a network stress attack, then actually, it can stall price movement and additionally effect sentiment, as it temporarily highlights a flaw in usability and scalability for Bitcoin. It may be good for altchains that are more scalable, like ETH. It depends on the trajectory of the attack.

It will not only stall the price movement or affect the sentiment, it has more effect on the Bitcoin adoption and if this attack keep on going, many institutions that wanted to adopt Bitcoin may change their mind.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: seoincorporation on November 09, 2023, 09:22:40 PM
But it doesn't look like a bullish trend. It's just spam. Many transactions with the same inputs & outputs

The only ones who benefit from this are the miners because this way users have to pay more fees for the confirmation, so, maybe they are the ones who spam with those transactions. But who knows...

A solution is to avoid using bitcoin until the mempool comes back to normal, you can buy and use cryptos like Litecoin which has faster blocks and lower fees. And just like you guys, i love bitcoin and would love only to use bitcoin, but when the fees are this high it becomes a pain in the ass, and not a cheap pain.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: ArthurY on November 09, 2023, 09:22:46 PM
Mempool right now seems to be in spam
Transactions almost for 500mb is stuck
Seems like it's will freeze

High priority tx fee will cost 182 sat/vB  ???

What further steps will look like if this spam continues?
I don't remember this happening before in history

Miners are having a blast right now he he  ;D ;D

182 sats? You've got to be kidding me. It's big. A couple of days ago, I made a transaction and the fee was around 40 sats. I was getting bigger, and now it's like that right away.

The fact that it is congested is getting worse now. Well, as usual, let's cool down the situation now, because if we insist on what will happen, the miners will be happy because of the fee they will charge for each bitcoin transaction. Something that is not good on our part as bitcoin holders

Right now it's looks like 188 sat/vB
But I guess no one will sent so high fees

Maybe only inattentive people will make such a high transaction. Which is what it means. There is simply no point in sending such expensive transactions. Normal transactions go to the back of the queue. That's why the network is worth it. Frozen. I wonder how long the resources will be enough to continue this? Let's see what rich people got into this business

UPD 1. 260 sat/vB tx fees right now


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: BenCodie on November 09, 2023, 09:27:41 PM
Also looks like each new block cost attackers about 70k
However if miners in deal should be cheaper



In light of stompix's thread (https://bitcointalk.org/index.php?topic=5473528.0), the cumulative amount of fees in these last blocks is extremely similar to that of the difference in the block reward, as we all know, being halved in April.

This could be a test by miners themselves to create a benchmark, the benchmark being how much network activity is required in order to achieve the difference in block rewards

Why?

In the past, the block reward was the primary revenue for miners. As BTC was distributed and as time passes, the network needed a benchmark of activity in order to ensure that there would be an incentive to secure the network in the future.

As we have moved in time, the block reward has been sufficient, and miners have been able to move the market in their favor to ensure mining is profitable (as long as activity trajectory mentioned above is suitable, which thankfully, has been!)

Now, moving the market requires liquidity that miners may not have, same with purchasing power. It's more about fees, and so, measurements must be made. This might be what we're seeing.

I wonder how this will effect the halving as we know it....


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: paid2 on November 09, 2023, 09:30:05 PM
Right now it's looks like 188 sat/vB

It was even worst today : block 816027 (https://mempool.space/fr/block/00000000000000000003c90198fb6e38d07eb79cd1c8db018084ef3c63f6eae6) with an average "~281 sat/vB - 14,31 $US" fee.

If course mining pools owners and miners (which mine with a pool paying fees to their miners...) are happy. Good illustration is the price of the rented Ph/s on Nicehash or MRR, it increased a lot the last few days. People are trying their luck to solo mine a BTC block and hope to earn these crazy fees.

Quote
But I guess no one will sent so high fees

Maybe only inattentive people will make such a high transaction. Which is what it means. There is simply no point in sending such expensive transactions. Normal transactions go to the back of the queue. That's why the network is worth it. Frozen. I wonder how long the resources will be enough to continue this? Let's see what rich people got into this business

If fees are crazy high right now, it is only because people accept to pay crazy high fees.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: Charles-Tim on November 09, 2023, 09:35:33 PM
But it doesn't look like a bullish trend. It's just spam. Many transactions with the same inputs & outputs
Bitcoin spot ETF waiting approval is one of the reasons. Although, Ordinals is one of the main reasons for the higher fee rate.

But I guess no one will sent so high fees
When some people are using over 150 to 1000 sat/vbyte. I even saw a transactions of over 3000, 4000 and 5000 sat/vbyte. People are making transactions with high fee frequently right now.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: ArthurY on November 09, 2023, 09:35:37 PM
Right now it's looks like 188 sat/vB

If fees are crazy high right now, it is only because people accept to pay crazy high fees.

There are like in block 2.5k transactions with the same amount and fees, same inputs & outputs
That's like spam attack, not about ppl


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: carlfebz2 on November 09, 2023, 09:37:50 PM
As of writing
https://mempool.space


No Priority
20 sat/vB
$1.03

Low Priority
159 sat/vB
$8.15

Medium Priority
164 sat/vB
$8.41

High Priority
167 sat/vB
$8.56


Ive said to myself on the time i woke up and seeing the fees - "WTF again"..
One thing comes to my mind is that another BRC20 spam once again.
Usually it settles down a week or two but of course to those who are just that small time traders or to those who are making small transactions
would really be that having that pain in the ass situation yet they cant really be able to pass those BTC's. So there would be no choice but to make
yourself that having that standby or sitting idle and wait up for the network to settle down.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: headingnorth on November 09, 2023, 10:11:24 PM
Lots of idiots out there who think they can get rich quick trading worthless NFTs but 99% will lose money.

Bitcoin is not a tulip craze but NFTs most certainly are. NFTs are probably even worse than tulip mania!


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: SamReomo on November 09, 2023, 10:22:20 PM
https://talkimg.com/images/2023/11/09/tiBKo.jpeg

The transaction fees are getting crazy and the network is getting highly congested. Fee for low priority transactions is at 146 sat/VB which's crazy and there are more than 210,579 unconfirmed transactions as of time of writing this post. I think the useless ordinals are causing harm to Bitcoin network once again and the dam ordinals problem isn't solved yet.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: blue Snow on November 10, 2023, 12:04:47 AM
Mempool right now seems to be in spam
Transactions almost for 500mb is stuck
Seems like it's will freeze
all we can do right now is wait to back to normal. the fee will gradually return to normal but, I don't know exactly, but for sure, all the spam will disappear over time.
If I were you I would just face it happily, you have to postpone the transaction if not very urgent. maybe the price afterward will be better than today, thus making you profit multiple times.

Let us expect more during bull run as there would be more congestion. You can use lightning network which would be helpful in time like this.
As I know migrating bitcoin from the main network to the lightning network (LN), and another altcoin is still needs a fee, which means, the user will require 2 times the fee. LN is also limited, the user can't send much btc.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: ajiz138 on November 10, 2023, 12:31:44 AM
182 sats? You've got to be kidding me. It's big. A couple of days ago, I made a transaction and the fee was around 40 sats. I was getting bigger, and now it's like that right away.

The fact that it is congested is getting worse now. Well, as usual, let's cool down the situation now, because if we insist on what will happen, the miners will be happy because of the fee they will charge for each bitcoin transaction. Something that is not good on our part as bitcoin holders
Last time I saw 176 sat/vB it was no joke that the mempool was indeed congested, I did not make a transaction during the current conditions.

Now it's a bit better below 100 sat/vB but it's still high, the possibility of traffic jams is high again. There are two factors that many people say about mempool which is now getting higher, [1] because the price is rising a lot of people are crowding the transki. [2] because ordinal shitcoin is making a comeback after listing on Binance.

Now just shut up or use the lightning network some exchanges have accepted this network.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: TravelMug on November 10, 2023, 12:33:46 AM
Mempool right now seems to be in spam
Transactions almost for 500mb is stuck
Seems like it's will freeze

High priority tx fee will cost 182 sat/vB  ???

What further steps will look like if this spam continues?
I don't remember this happening before in history

This happened several months ago as well, and we didn't do anything, we just wait till everything settles down. Of course bitcoin enthusiast is very mad that BRC-20 ordinals are spamming the network and it seems that they are going it to cause some newbies to stay away from the market, it short it's a deliberate attack on their end. However, after a couple of months, or shall we say, weeks, it suddenly goes down without reasons.

Miners are having a blast right now he he  ;D ;D

Well it's business I guess, someone will have to be paid, regardless it is 1 sat/vB or 200 sat/vB to secure the network.

And that's why this is the big difference of BTC to the rest of the altcoins as there are miners who really do this because it's their job to secure everything for us for a transaction fee, 6 confirmations to be exact.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: Fundamentals Of on November 10, 2023, 01:52:19 AM
The Ordinals are still probably to blame? I think they are still playing a big role in this latest spike in transaction fees. But I think it's not just them that caused this. We notice how the price of Bitcoin has been rising for several days now. There's an increase in the volume of transactions. Many of them are probably legit transactions and not just related to Ordinals. Or are there bad actors at play also? Like those who are just trying to spam the network to make it congested?


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: Eternad on November 10, 2023, 01:57:32 AM
The Ordinals are still probably to blame? I think they are still playing a big role in this latest spike in transaction fees. But I think it's not just them that caused this. We notice how the price of Bitcoin has been rising for several days now. There's an increase in the volume of transactions. Many of them are probably legit transactions and not just related to Ordinals. Or are there bad actors at play also? Like those who are just trying to spam the network to make it congested?

I’m not really sure if Ordinals is really need to blame here since the stuck transaction volume is much lower when Ordinals spam network which around 500K Tx compared to current one that is just a 200K+ yet the transaction fee is much higher compared when the pending Tx is around 500K. Ordinals use dust transactions to flood the network while the current abnormality is just many transactions is purposely use insane transaction fee that makes other transaction with lower fee become pending.

I believe this a pure manipulation which I don’t know who to blame because mempool will be clear if everybody will calm down on using higher transaction fee and just wait for the mempool to clear this transaction with higher fee.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: dansus021 on November 10, 2023, 02:14:47 AM
I also creating a similar thread in Techincal Support you guys should check it out

Question about Bitcoin network spammer - https://bitcointalk.org/index.php?topic=5473421.0

Some member said it is because the ordinal + I do believe bitcoin turn into bull that make some user might want to take profit if they buy the bitcoin at 19K level and send it to exchange


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: hd49728 on November 10, 2023, 02:28:43 AM
Some member said it is because the ordinal + I do believe bitcoin turn into bull that make some user might want to take profit if they buy the bitcoin at 19K level and send it to exchange
It is doubling effect from a Bitcoin bull run with many good news for Bitcoin Spot ETFs and Ordinals Inscription attack. Since February 2023, there are some waves of Ordinals attacks on Bitcoin mempools.

Inscriptions, Mempools and Miners (https://insights.glassnode.com/the-week-onchain-week-39-2023/)

Some charts taken from the report of Glassnode Insights about Ordinals, Inscriptions. Those useless inscriptions account too much for Bitcoin transaction count, fee, block size in last 9 months.
https://insights.glassnode.com/content/images/size/w1600/2023/09/01_mempoola-1.png
https://insights.glassnode.com/content/images/size/w1600/2023/09/02_mempoolb-1.png
https://insights.glassnode.com/content/images/size/w1600/2023/09/08_meantxperblk-1.png
https://insights.glassnode.com/content/images/size/w1600/2023/09/05_insctxshare-1.png
https://insights.glassnode.com/content/images/size/w1600/2023/09/06_utxoset-1.png
https://insights.glassnode.com/content/images/size/w1600/2023/09/07_blocksizeshare-1.png
https://insights.glassnode.com/content/images/size/w1600/2023/09/11_inscfeeshare-1.png


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: Fundamentals Of on November 10, 2023, 03:07:52 AM
The Ordinals are still probably to blame? I think they are still playing a big role in this latest spike in transaction fees. But I think it's not just them that caused this. We notice how the price of Bitcoin has been rising for several days now. There's an increase in the volume of transactions. Many of them are probably legit transactions and not just related to Ordinals. Or are there bad actors at play also? Like those who are just trying to spam the network to make it congested?

I’m not really sure if Ordinals is really need to blame here since the stuck transaction volume is much lower when Ordinals spam network which around 500K Tx compared to current one that is just a 200K+ yet the transaction fee is much higher compared when the pending Tx is around 500K. Ordinals use dust transactions to flood the network while the current abnormality is just many transactions is purposely use insane transaction fee that makes other transaction with lower fee become pending.

I believe this a pure manipulation which I don’t know who to blame because mempool will be clear if everybody will calm down on using higher transaction fee and just wait for the mempool to clear this transaction with higher fee.

Partly the Ordinal inscriptions probably, but not mainly. There might also be certain manipulations intentionally done to earn more fees. Philipma1957, on another thread similarly discussing about the sudden spike in transaction fees, suspected this could be done by large mining pools. He suspects that Binance mining pool is most probably behind this manipulation.

We don't know for sure. But I think many factors are contributing to this. We also don't discount the growing transaction volume especially during these moments when the price is fast rising.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: $crypto$ on November 10, 2023, 03:23:08 AM
Wait!!! it will return to normal, some time ago it experienced the same thing even twice as high as now, this is really hard and indeed the miners feel the pleasure of high mempool, so we have to wait when we want to send btc better wait for normal again.

When the mempool is rising, the ordinal token is hype again, it's like there is a problem with the ordinal crowding the transaction network, so I will wait, for other purposes use crypto options with cheaper networks, the mempool fee is now unfriendly.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: Poker Player on November 10, 2023, 04:44:59 AM
https://talkimg.com/images/2023/11/09/tiBKo.jpeg

The transaction fees are getting crazy and the network is getting highly congested. Fee for low priority transactions is at 146 sat/VB which's crazy and there are more than 210,579 unconfirmed transactions as of time of writing this post. I think the useless ordinals are causing harm to Bitcoin network once again and the dam ordinals problem isn't solved yet.


Wait!!! it will return to normal...

Well, in fact, at the moment the fees are already down to a quarter of the mentioned, according to mempool.space they are between 38-40 sats/vByte depending on the priority you want. I would expect that during the weekend there will be calm too, so people can make transactions without paying crazy fees. Personally when I see fees going through the roof I prefer to wait.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: OgNasty on November 10, 2023, 04:52:55 AM
This isn’t really a problem because very few people actually transact using BTC anymore. The store of value narrative has to be what carries Bitcoin into the future because it is not as useful as a p2p currency as most other options. Maybe this is a feature and the cost of transacting in Bitcoin is worth it, but the shit will have to hit the fan first so we can see.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: adaseb on November 10, 2023, 04:54:06 AM
Seems to be coming down fast now, you might get a 50sat byte transactions confirmed if this trend holds. However tomorrow morning during NY time I am guessing these transactions will keep heading upwards. Today was very nasty if you wanted to get anything confirmed quick.

Looks like the high fees caused some people to rethink their transaction fees and either not do any ordinal transactions or just postpone their transaction until the weekend.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: FinneysTrueVision on November 10, 2023, 05:08:59 AM
The fees have come down to more reasonable levels. It's late in the day and also a holiday weekend in the United States so this might cause fewer on-chain activity for a brief period. Most of the spam is related to minting BRC-20 tokens. There is not much actual usage of these tokens once they are minted so eventually the shitcoin spam will subside.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: Kakmakr on November 10, 2023, 05:26:42 AM
Well, someone thought it was a good idea to develop Ordinals and for that to spam the Blockchain.  ::) The "enemies" or competition of Bitcoin might have seen this as an opportunity to "spam" the network with more useless transactions to create congestion.

We will just have to ride this out and hopefully the developers will find a way to counter this.  ::) Why can there not be some way to shift these Ordinals to a side-chain, like they did with the Lightning Network?


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: joniboini on November 10, 2023, 05:50:10 AM
Why can there not be some way to shift these Ordinals to a side-chain, like they did with the Lightning Network?
I think someone will definitely develop that if the network is continuously unsuitable for them. I'm pretty sure past discussions also discuss this. At the end of the day, it is an open-source project and anyone can develop a side-chain to fit their needs. Altcoins already do this with their layer 2 or whatever they want to call it.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: btc_angela on November 10, 2023, 09:01:33 AM
Seems to be coming down fast now, you might get a 50sat byte transactions confirmed if this trend holds. However tomorrow morning during NY time I am guessing these transactions will keep heading upwards. Today was very nasty if you wanted to get anything confirmed quick.

Looks like the high fees caused some people to rethink their transaction fees and either not do any ordinal transactions or just postpone their transaction until the weekend.

Yes, it's no longer at the 100++ digit sat/vB, its down to 20 sat/vB-30 sat/vB so that is a good improvement already. So I do believed that this ordinals thingy will have to lie down a bit just like in the previous months and then we go back to the normal.

I don't think though that bitcoin enthusiast will re-think everything, I mean just like I said, this ordinal transactions will have to slow down.

And this is a good sign right now, maybe in the next 24-48 hours, the fees will slide around <20 sat/vB.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: Faisal2202 on November 10, 2023, 05:47:41 PM
Mempool right now seems to be in spam
Transactions almost for 500mb is stuck
Seems like it's will freeze

High priority tx fee will cost 182 sat/vB  ???

What further steps will look like if this spam continues?
I don't remember this happening before in history

Miners are having a blast right now he he  ;D ;D
You are right transactions are really shooting up and in my opinion, that's due to the listing of BRC-20 tokens on big centralized exchanges like the listing of ORDI on Binance. As we know when the transaction of these tokens is taken out the load on the BTC blockchain will increase and the network will be more congested than before.

Resulting in a high fee, but overall I would say what we can do for know, as those who have no other options might have to pay $14 in fee (maximum as the current fee is) and if you have the option to delay the transactions then you can go for no priority TX which will cost around 0.5$ Overall, I would say the increment in BTC TX was written before in our luck but it will come that fast was not in my expectations.

Overall, we should find ways to reduce it like using the LN or making payments in different time zones when the TX fee is lower than before. Talking about spams, this is not something new, as BTC blockchain is trained for it as it has limit of it and when the spam transaction limit will meet then network will not take anymore spam TX in it.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: ZAINmalik75 on November 10, 2023, 06:32:37 PM
The Ordinals are still probably to blame? I think they are still playing a big role in this latest spike in transaction fees. But I think it's not just them that caused this. We notice how the price of Bitcoin has been rising for several days now. There's an increase in the volume of transactions. Many of them are probably legit transactions and not just related to Ordinals. Or are there bad actors at play also? Like those who are just trying to spam the network to make it congested?
Besides Ordinals involvement spam transactions are also being made in the BTC blockchain which is creating congestion no doubt this will fade away with time but at the current moment, we should or have only other options like not using BTC, or converting BTC in some other token to make transactions fast, or use Lightning network for better fees.

We will see spikes in the transaction fee frequently now because BTC is going up and the halving is near after which the block reward will be reduced to half.

The only way for the miners is to earn from the transaction fees maybe that's why they are doing it on purpose so that people become used to paying huge transaction fees but in my opinion, it will not happen at the current price of BTC. Because paying $10+ for the fee for one transaction meant a lot now.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: Baofeng on November 10, 2023, 10:58:23 PM
Mempool right now seems to be in spam
Transactions almost for 500mb is stuck
Seems like it's will freeze

High priority tx fee will cost 182 sat/vB  ???

What further steps will look like if this spam continues?
I don't remember this happening before in history

Miners are having a blast right now he he  ;D ;D
You are right transactions are really shooting up and in my opinion, that's due to the listing of BRC-20 tokens on big centralized exchanges like the listing of ORDI on Binance. As we know when the transaction of these tokens is taken out the load on the BTC blockchain will increase and the network will be more congested than before.

Oh ok, so that is one reason why the price suddenly shoots up because it is being listed on top tier exchanges, make sense.

Resulting in a high fee, but overall I would say what we can do for know, as those who have no other options might have to pay $14 in fee (maximum as the current fee is) and if you have the option to delay the transactions then you can go for no priority TX which will cost around 0.5$ Overall, I would say the increment in BTC TX was written before in our luck but it will come that fast was not in my expectations.

Yes, that's the only thing we can do now, sit and just relax and let this whole craze go down a bit and for sure the fees are going to go back to the normal fees again. And it's true that before they also congested the network and then after a few weeks the fees is back to like 1-3 sat/vB.

Overall, we should find ways to reduce it like using the LN or making payments in different time zones when the TX fee is lower than before. Talking about spams, this is not something new, as BTC blockchain is trained for it as it has limit of it and when the spam transaction limit will meet then network will not take anymore spam TX in it.

I think it's a good for others who don't have experience with LN to try it out for the first time. And if you are going to transact with others, it should be in LN until the network congestion is gone.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: hd49728 on November 11, 2023, 03:22:28 AM
Besides Ordinals involvement spam transactions are also being made in the BTC blockchain which is creating congestion no doubt this will fade away with time but at the current moment, we should or have only other options like not using BTC, or converting BTC in some other token to make transactions fast, or use Lightning network for better fees.

We will see spikes in the transaction fee frequently now because BTC is going up and the halving is near after which the block reward will be reduced to half.
Time flies so fast and soon people will realize real values of Ordinals tokens that are useless like many altcoins, abundant NFTs from altcoin blockchains. Soon, they will realize fact but when time comes to that point, they already lost money to Ordinals, Inscriptions.

Hypes in altcoins including Ordinals, Inscriptions can not last forever, they will die with time.

Quote
The only way for the miners is to earn from the transaction fees maybe that's why they are doing it on purpose so that people become used to paying huge transaction fees but in my opinion, it will not happen at the current price of BTC. Because paying $10+ for the fee for one transaction meant a lot now.
Miners always can earn money from block subsidy and transaction fee but with hypes of Ordinals, Inscriptions, they are receving more money from transaction fees than months ago especially before February 2023.

If you understand mempools and the market as well as have plans and patience, you can enjoy cheaper fee rates. Like today, you can have a quick confirmation with fee rate like 30-40 sat/byte that is 3 times lower than yesterday.
https://jochen-hoenicke.de/queue/#BTC%20(default%20mempool),24h,weight


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: adaseb on November 11, 2023, 05:41:33 AM
I managed to get a transaction in with 40 sats byte. If I waited I could of gotten perhaps 25-30 sats byte. Seems it’s starting to level off and most likely by Sunday we can get 10-25 sat transactions going.

You need to make sure you get your transaction in by then because during the London open and especially New York open it will get more and more congested and you will be stuck paying 100 sat byte fees.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: Dave1 on November 11, 2023, 07:21:28 AM
I managed to get a transaction in with 40 sats byte. If I waited I could of gotten perhaps 25-30 sats byte. Seems it’s starting to level off and most likely by Sunday we can get 10-25 sat transactions going.

You need to make sure you get your transaction in by then because during the London open and especially New York open it will get more and more congested and you will be stuck paying 100 sat byte fees.

Yeah, I also get a transaction at 40 sats/vB, I think that's already a great improvement for us. And it just shows that those spamming the network can't sustain what they are doing (if the intention is to clogged and congest the mempool to make it not reusable for us bitcoin enthusiast).

So let's see, it's starting to normalized so maybe we will go back to like less than 10 sats/VB.

We could wait for it if we are not in a hurry to make any transactions.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: Z390 on November 11, 2023, 08:26:48 AM
This nonsense have been happening before Ordinals got here and now that Ordinals are finally here I am thinking that the Network will always be congested unless Ordinals failed woefully in the next bull market which is impossible, for new things in crypto don't always fail at first until they witness a bull market at least once.

I don't like paying high fee for transactions on bitcoin network but there is nothing we can do to get rid of Ordinals now, it's already too late, I used 41sats to make transaction this morning, I think it's cooling off already but I am still concerned about tomorrow, the more Bitcoin grows higher the fatter the transaction fee will become.

For the sake of miners I am less worried about Ordinals now, sooner I will also be a Bitcoin miner myself and the only way to keep miners busy is the reward they are getting while solving blocks, so ordinals will add more confident for them.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: bayu7adi on November 11, 2023, 09:31:06 AM
Although, Ordinals and Inscription have been the reasons the mempool is congested up to this, but bitcoin mempool has been congested like this in the past when there was nothing like Ordinals.
Yep, that's correct. Ordinal has indeed been the cause of the recent transaction backlog. Transaction fees even reached 150+ sats/vbyte at one point. At least, yesterday, there was a backlog of over 200k transactions pending, and I chose to hold off and wait for the difficulty adjustment on November 13, 2023.

i believe that when the difficulty increases, transaction fees are likely to decrease. I've analyzed this mechanism in a previous post: https://bitcointalk.org/index.php?topic=5332291.msg63134767#msg63134767

However, until November 13, fees will gradually become more reasonable. Currently, the transaction fee for high-priority is 51 sats/vB. Maybe it'll go down even further tomorrow, and I can start transacting Bitcoin with lower fees as usual. Just waiting for the network overload to clear, that's not bad for me.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: Faisal2202 on November 11, 2023, 06:28:54 PM
Yes, that's the only thing we can do now, sit and just relax and let this whole craze go down a bit and for sure the fees are going to go back to the normal fees again. And it's true that before they also congested the network and then after a few weeks the fees is back to like 1-3 sat/vB.
Yeah, that's right but if we give it another few minutes then we will realize that back in time when the Fee of BTC TX skyrocketed the reason was like (the last time was) ordinals discovery which led to huge inscription of NFTs on BTC blockchain, Dusting with UTXOs means spamming the Network etc. But this time ORDI listing put the impact and the trading volume at the start is always huge so put a big impact on the fee I just checked the fee it came down to normal but what if in the future 100 or 50 BRC-based tokens are listed on top tier exchanges? I think I should also start a mining rig haha as the future is bright for the miner even if the reward block is being halved.

I think it's a good for others who don't have experience with LN to try it out for the first time. And if you are going to transact with others, it should be in LN until the network congestion is gone.
You are right, I also never used the Off-chain mechanism (LN) maybe I should also give it a try.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: BitMaxz on November 11, 2023, 11:46:53 PM
I think it's a good for others who don't have experience with LN to try it out for the first time. And if you are going to transact with others, it should be in LN until the network congestion is gone.
You are right, I also never used the Off-chain mechanism (LN) maybe I should also give it a try.

You're too late to start using LN because if you make a transaction today with the current network you still need to pay a high transaction fee before you can have a channel.

It seems the mempool.space is down I can't access the site it might be under DDOS attack or the site already reach the hosting limit because it stuck at "error time out".


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: wxa7115 on November 12, 2023, 01:04:35 AM
This nonsense have been happening before Ordinals got here and now that Ordinals are finally here I am thinking that the Network will always be congested unless Ordinals failed woefully in the next bull market which is impossible, for new things in crypto don't always fail at first until they witness a bull market at least once.

I don't like paying high fee for transactions on bitcoin network but there is nothing we can do to get rid of Ordinals now, it's already too late, I used 41sats to make transaction this morning, I think it's cooling off already but I am still concerned about tomorrow, the more Bitcoin grows higher the fatter the transaction fee will become.

For the sake of miners I am less worried about Ordinals now, sooner I will also be a Bitcoin miner myself and the only way to keep miners busy is the reward they are getting while solving blocks, so ordinals will add more confident for them.
Ordinals are going to become a real problem when the markets gets more bullish and we get to see a new ATH, as at those times everyone wants to get their transaction confirmed first as this gives them an advantage over those that have to wait.

So even if the growth in the popularity of Ordinals was organic, it will surely be used on the future to congest the network as much as possible during those moments everyone wants to buy more bitcoin.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: BenCodie on November 12, 2023, 09:13:56 PM
I've just gone back to the sidelines as the mempool is not the only thing with anomalies right now. If you look at btc and most of the altcoin market, there was a huge drain of liquidity/liquidity grab market wide. Some alts/tokens dumped around 50% in just a matter of minutes...only for AMM'S to recover the price, but liquidating longs and stripping the book of its strength.

I am curious to see how the Mempool flood and the liquidity grab effects the market over this next week or so. This could effect sentiment quickly.

Also, there have been mempoool floods before, most recently around the time that Ordinals were new (earlier in the year). It costs money to spam the chain, so the attack will have to stop eventually.

Developers tried to tone down the price of transaction fee during the heavy fee of 2017, reason why they implemented segwit to solve the problem.  It indeed solve the high tx fee of those time and I hope the developer will do the same today.

If these ordinals spam are keep unchecked, this might create a problem in the future.

I'd say that it's quite likely that a solution will be adopted. Additionally, it's a good time for new Bitcoin network features, like lightning network and layer 2 solutions, to provide temporarily alternatives. It's not onchain, mainnet BTC, but these are solutions built for times like this.

I doubt it will last for too long. It costs a lot for an attacker to spam the network, and it eventually it becomes infeasible. Miners are probably just benchmarking the network pre-halving in order to see how much activity is needed for them to make the difference in block reward. It seems like the most logical explanation in comparison to a high net worth player just trying to attack/hinder the network temporarily.

If we're talking specifically about a network stress attack, then actually, it can stall price movement and additionally effect sentiment, as it temporarily highlights a flaw in usability and scalability for Bitcoin. It may be good for altchains that are more scalable, like ETH. It depends on the trajectory of the attack.

It will not only stall the price movement or affect the sentiment, it has more effect on the Bitcoin adoption and if this attack keep on going, many institutions that wanted to adopt Bitcoin may change their mind.

I doubt they will change their mind, but businesses looking to use Bitcoin might change their choice to another viable option.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: dansus021 on November 13, 2023, 02:24:54 AM
It is doubling effect from a Bitcoin bull run with many good news for Bitcoin Spot ETFs and Ordinals Inscription attack. Since February 2023, there are some waves of Ordinals attacks on Bitcoin mempools.
Inscriptions, Mempools and Miners (https://insights.glassnode.com/the-week-onchain-week-39-2023/)

Yeah I would agree with you that inscription are make the network more heavier especially when market at the good condition right now. Is not possible to use bitcoin for every day payment if the fee itself is expensive like this.

and talk about ordinal

and what the heck is this, NFT??

https://www.talkimg.com/images/2023/11/10/t8da5.png


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: Bitcoin_people on November 13, 2023, 02:50:57 AM
I think it's a complete fallacy that you're saying this cause will never be sustainable in the long run. If you saw 180sat/vB in mempool yesterday, it will definitely drop later, maybe you didn't notice. And in this way, there will never be pressure of transaction but it will gradually decrease and it is normal that free will come. This kind of pressure will never last long, if there is, many transactions will be stuck, due to which many types of problems can occur. That's why this problem is never long term but short term it increases and decreases for a short period of time. If you look at the mempool of a few days ago you might be surprised that there was a lot of growth then but that is not the case now.
Three days ago mempool transaction free was very much but now it has reduced a lot.
https://www.talkimg.com/images/2023/11/13/zSvuI.jpeg

Today's mempool has definitely changed and the transaction pressure has reduced a lot. So we don't see any of the mempool spam here but this is how it always goes.
https://www.talkimg.com/images/2023/11/13/zS3gg.png


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: TravelMug on November 15, 2023, 01:03:22 AM
Today's mempool has definitely changed and the transaction pressure has reduced a lot. So we don't see any of the mempool spam here but this is how it always goes.
https://www.talkimg.com/images/2023/11/13/zS3gg.png

Definitely this kind of spam is not sustainable in the long run, and I doubt that a entities is benefiting from congesting the network. But still a deliberate attack though, just like paying more fees and then they will do a RBF. And mostly, the affected party here are those newbies, you might see a thread or two popping from time to time asking about how the hell their transactions are stuck and why the network is very congested. So we might have the burden to explain to them and even help them get out of that stuck transaction via accelerator tx https://www.viabtc.com/tools/txaccelerator. The only thing we can do is what till this attack settled down, but then again, this could be just a preview of what is going to happen if we are in a massive bull run as for sure there will be a lot of transactions.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: Catenaccio on November 15, 2023, 01:22:16 AM
So we might have the burden to explain to them and even help them get out of that stuck transaction via accelerator tx https://www.viabtc.com/tools/txaccelerator.
To use the transaction accelerator, their Pending transactions must meet two conditions

fee rate is 10 sat/vbyte at least.
transaction size is less than 500 byte.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: philipma1957 on November 15, 2023, 01:27:13 AM
So we might have the burden to explain to them and even help them get out of that stuck transaction via accelerator tx https://www.viabtc.com/tools/txaccelerator.
To use the transaction accelerator, their Pending transactions must meet two conditions

fee rate is 10 sat/vbyte at least.
transaction size is less than 500 byte.


20 sat/vbyte which is 10 sat / byte

but the send must be two inputs or less. (500 bytes)

if you use trezor.io with rbf you can try to figure out how low to go and adjust if you went to low.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: Faisal2202 on November 16, 2023, 04:10:40 PM
You're too late to start using LN because if you make a transaction today with the current network you still need to pay a high transaction fee before you can have a channel.
If that's the case then I can wait for the removal of congestion in the BTC network, and when the fee will come back to normal I will try to open a channel. By the way, I did not know the initial fee has to be the same one that other network users are paying, your point made me realize that (hehe).

It seems the mempool.space is down I can't access the site it might be under DDOS attack or the site already reach the hosting limit because it stuck at "error time out".
I am replying quite late to you,  If there were any errors, they've likely been resolved by now.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: ArthurY on December 31, 2023, 12:46:31 PM
Again seems to be a high

https://www.upload.ee/image/16111903/photo_2023-12-31_14-43-55.jpg


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: eimanam on January 01, 2024, 09:47:17 AM
Mempool right now seems to be in spam


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: NewRanger on January 01, 2024, 01:55:13 PM
I managed to get a transaction in with 40 sats byte. If I waited I could of gotten perhaps 25-30 sats byte. Seems it’s starting to level off and most likely by Sunday we can get 10-25 sat transactions going.

You need to make sure you get your transaction in by then because during the London open and especially New York open it will get more and more congested and you will be stuck paying 100 sat byte fees.

I tried to make a transaction with a fee per vbyte of 40 sats 6 days ago and to this day it has not been confirmed and the confirmation status is still pending and there is still Queue 110622 left to wait for. A pretty long wait. ;D ;D.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: NewRanger on January 02, 2024, 05:34:08 AM
Memepool is really in a mess right now, every crypto transactions carry out doesn't complete up instantly, rather its been delayed because the memepool is congested.


Last night I tried a test using https://www.viabtc.com/tools/txaccelerator and it worked and today I used it again. Yes, I hope my transaction will be completed quickly with the same fee rate as before, namely fee per vbyte of 40 sats.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: adaseb on January 02, 2024, 05:39:52 AM
Memepool is really in a mess right now, every crypto transactions carry out doesn't complete up instantly, rather its been delayed because the memepool is congested.


Last night I tried a test using https://www.viabtc.com/tools/txaccelerator and it worked and today I used it again. Yes, I hope my transaction will be completed quickly with the same fee rate as before, namely fee per vbyte of 40 sats.

Yeah I’ve been using this also. The only issue is that last week for a period of 4 days or so it was always full. The new hour would start and all the 100 slots would be used up. Almost instantly.

I tried 2 days ago and finally got a spot and it worked. However if you need to get more transactions in, do it soon because most likely with bitcoin hitting new highs it will only get worse from now on.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: NewRanger on January 02, 2024, 06:45:29 AM
I tried 2 days ago and finally got a spot and it worked. However if you need to get more transactions in, do it soon because most likely with bitcoin hitting new highs it will only get worse from now on.

Maybe and https://www.viabtc.com/tools/txaccelerator works perfectly once done well. Thanks


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: ArthurY on January 02, 2024, 11:44:25 AM
Memepool is really in a mess right now, every crypto transactions carry out doesn't complete up instantly, rather its been delayed because the memepool is congested.


Last night I tried a test using https://www.viabtc.com/tools/txaccelerator and it worked and today I used it again. Yes, I hope my transaction will be completed quickly with the same fee rate as before, namely fee per vbyte of 40 sats.

Before that's tool been nice. New updates do not allow pass weight transactions for free and paid service still high priced and not simple payments processor to proceed the transaction


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: DeathAngel on January 02, 2024, 11:54:17 AM
It’s currently under 100 sat/vB for a medium priority transaction fee. This period of high fees, largely created by Ordinals shitcoiners will pass. We had a similar scenario during the block size wars with bad actors, big blockers spamming the network. These guys will run out of patience & get bored.


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: avikz on January 02, 2024, 12:05:37 PM
Mempool right now seems to be in spam
Transactions almost for 500mb is stuck
Seems like it's will freeze

High priority tx fee will cost 182 sat/vB  ???

What further steps will look like if this spam continues?
I don't remember this happening before in history

Miners are having a blast right now he he  ;D ;D

Bitcoin is having a bull run right now. Also nonsense things like ordinals have not yet stopped. And we can see the result of a clogged Bitcoin network. If ordinals was not there, we probably wouldn't have to see this today. But fortunately, ordinals are still life and the primary source of spamming the network.

I remember reading in this forum that the development team is planning to expel the ordinals from the network. Can anyone share any update on this?


Title: Re: Is anyone saw mempool right now? Mempool spam
Post by: ImThour on January 02, 2024, 12:07:43 PM
I don't like what's going on to be very honest with you all. Being a Bitcoin supporter, I don't want to see paying $10-$20 fees for a single transaction be feasible in 2024 where you can send millions by paying less than a dollar of fee. Let's hope this gets fixed soon but still, it hurts to see the NFT stuff on Bitcoin blockchain.