Thanks for the merit! 420 on 4/20 halving day.  Let's go.   
Almost top 40 in the Canadian dollar. 

I thought the fees would have come down a bit more by now but let's see how economical it is for these spammers to keep it up. Everytime this has happened before fees have come back down to reasonable levels, I don't think it will be different this time.

What I do know though is that I will not be transacting on the network while this keeps up.

We are up about 7.30X since the last halving on may 11, 2020 or 730% in 1439 days or 0.1385%/day or 65.7% a year.
Not bad, lol

bitcoin has no technical reason to be restrained. its dev political motivated. when you follow the funding and roadmap plans of core devs it is their plan to segregate and migrate people away from native use of bitcoin. bitcoin core added an exploit 8 years ago, which is being abused 2years ago to cause these annoyances/attacks and core devs have had 8 years of knowledge of the exploit and a few years of seeing the annoying results of its impact. but all they care about is migrating people away from using the bitcoin network.
even those performing the attack/annoyance are funded by the same groups promoting the segregation of majority/trying to push people into migrating people over to the other network(rich/poor divide)

anyone telling people to:
use another network
stop using bitcoin
wait weeks, month, years and hope the utopia fixes itself

is not a ally/friend of bitcoin

if they think their reasons are justified that spending $50 for 1 tx is fine but spending $50 spread over several years for a hard drive to store decades of transactions is some how bad economics.. those fools have their maths the wrong way round, and no understanding of math/economics of utility

as for the 'do nothing, just wait' i think 8 years of waiting for the promises of bitcoin scaling to offer more transactions of cheaper fee is enough waiting. lets accept it the promises made 8 years ago have not been met. and no, other networks are not the solution. they are the diversion

other networks only provide small niche sub services of options. and should not be thought of as the ultimate replacement utility.

its funny how those that support other networks are the solution where 'small' transactions should occur. but in same breath they dont want the 'small' transactions of bloat/spam to be stopped

anyone promoting to not censor junk, but to sensor genuine bitcoiner utility have thigns the wrong way round
bitcoin HAD rules to articulate every byte as having purpose. those rules have been softened and many transactions always have been:
'dropped', 'scrubbed', 'evicted', 'orphaned', 'pruned', 'unrelayed' and many other terms that made bitcoin clean and purposeful.
suggesting bitcoin should be filled with junk but actual use should be delayed/migrated elsewhere is a social-con, a social abuse of trying to suggest bitcoin shouldnt be used by bitcoiners

Daaaaamn at 50smerit per 30days atm 😬😬

we will get some low fees.  the method i list for a big company means ordinal attacks are on and off.

and while we had 1 sat in oct 2023. we have over 3btc a block for most of dec and jan.

https://newhedge.io/terminal/bitcoin/difficulty-estimator

Latest Block:   839923  (37 minutes ago)

Current Pace:   102.1596%  (1268 / 1241.20 expected, 26.8 ahead)

Previous Difficulty:   83126997340024.61                            
Current Difficulty:   86388558925171.02                            
Next Difficulty:   between 88038950002524 and 88308275794963
Next Difficulty Change:   between +1.9104% and +2.2222%
Previous Retarget:   April 10, 2024 at 5:09 PM  (+3.9236%)
Next Retarget (earliest):   Wednesday at 10:03 AM  (in 5d 2h 1m 52s)
Next Retarget (latest):   Wednesday at 11:02 AM  (in 5d 3h 0m 32s)
Projected Epoch Length:   between 13d 16h 53m 49s and 13d 17h 52m 29s

Same here.

Well my bad, sometimes I really forget that I need to add extra details when talking about something, In my mind I know I've said it before so I assume that everyone knows what I'm talking about!

I don't think ordinals will ever go away! EVER!
I think that as long as 1sat/vb will mean every guy in this universe with 4-5k to spare might want to inscribe his name to be there forever in one full block will be able to do it, and pretty cheaply considering the amount of people spend for shit around! So the spam will keep going at 1sat/vb, but I don't think it will manage to keep going for long at rates of 100sat/vb, since this will no longer imply some maniacs but an actual industry to support 1.5 mils and over a day.

Much like expensive wine, you do have a few clients for 50k bottles but no way Walmart is going to sell only bottles above 1000.

Also, real life is full of surprises, back in September I opened this topic:
When are we going to see the mempool empty again and 1sat/b confirmations?
most were saying never, a long time, bla bla..
It hit 1sat on October 03, 2023.

Dif is still at 1.7%, halving in a day and a bit, price back up a bit.
Time to get the popcorn ready, place a few bets, and enjoy the shitshow

no no I understand that - but thats the point I was trying to make... its a very common practice to use 2P breakers. Just figured I'd mention it as most of us know, electricity is NOT to be trifled with. For the amount of money he wants to spend it just seemed like maybe not a bad idea from the safety perspective. Wasn't trying to say he should use larger asics.

FWIW: I love the single board setups - bought 2 pre-fabbed from Altair and built 3 (19K Pro boards). If I had a spare XP lying around I'd have tinkered with that board as well! (inspired by your other post lol)

Observing $62,000 on this fine, Spring morning.

Is that all you’ve got bears?

I don't think Ordinals spam is going anywhere actually, even with Runes, because you know, BRC-20 still exists and a lot of weird exchanges for it are being made and their creators aren't going to just close shop like that.

What's more likely to happen is that the mempool will become more of a swamp. Double so now that the halving is literally happening in days and there will naturally be way more transactions by then.

The thread will always be an active reference points but sufficient time must have passed by now for the message to have filtered through therefore the thread might better be served if it is locked. Several recent posts here certainly should not have been allowed to remain. The quality of some of the posts are of a sub-standard enough level to be called in to question.

I think I get what you mean: that if transaction fees will also be a more significant part of the coins miners are selling, this will level out changes by halvings, and mempool congestion thus could indicate a turn to bearish conditions. (Or do I interpret the idea with the congested mempool wrong?)

In the case we do not only look at rewards but also at transaction fees, I think we could also look at other related indicator: miners' BTC reserves. It seems they were selling more coins that they are holding for the last 6 months at least. According to the article it's about 20.000 BTC they sold in excess in the last 6 months, preparing for the halving accumulating fiat reserves (probably partly to diversify into other related areas like colocation, cloud, AI etc. if mining income gets too low). That's much less than the rewards (900 per day = 163000) but it's more than transaction fees (on average 4% of miner income, i.e. about 30-50 BTC/day).

As the incentives for the behaviour are quite logical for me, we could assume that this will occur at each halving from now on: in the previous months, miners could sell at least about as much as they get by transaction fees in addition to the amount of rewards and fees they get for found blocks. This would mean selling pressure actually before the halving and perhaps in the days immediately after it, but when difficulty has re-accomodated after halvings, I expect them to reduce these sales.

In the end this could mean that, if we sustain the "miner supply dictates price" theory, the the period before halvings (which were bullish in all "cycles" until now) could even become bearish over time, while the period in the middle of the halving cycle when miners accumulate most, most bullish conditions should be found.