Fuck shitcoins.  Have you heard of lightning network?


Bitcoin is broken, and miners are gaming the system?  You heard it here first.  Right?

Oh and on a sidenote, litecoin and doggie coin are our saviors.      It used to be that Ibonds were going to save us, now it is litecoin and doggie coin, and surely you have made those prognostications previously.. which goes to show that you have been a stronger soothsayer than previously thought... anyhow, your comment about not knowing about any solution seems to show that you have little to no imagination or you are just a pessimist when it comes to various ways to build on bitcoin, whether there might be some software tweaks or various second layers that do not necessarily hinge upon being distracted with shitcoins.


Oh?  Blockstream is the problem?

Who would-a-thunk?

Shit.. dee cornz is controlled/dominated by Blockstream, and perhaps keeping dee blocks too widdo, too?  Seems like I have heard those kinds of concerns, previously... Hm?

By the way, many of us should realize that BTC prices do not necessarily go UPpity without various corrections from time to time, and sometimes corrections may well be in the 20% to 30% territory, even during a bull run, and sometimes they even go as high as 50%, even during a bull run.. Who would have had thunk?  So far we have had a correction of around 10% down to $40,181 (from about a week ago).. and yeah it is looking like we might well possibly be getting greater than 10%.. and maybe such greater than 10% might happen, and maybe it won't? 

At the same time, I recall BTC prices being in the $26k/$27k territory right around 2 months ago, so the fact that we had hardly gotten any correction since Mid-October, that should be a noteworthy dynamic that shows that maybe a greater than 10% correction could happen?  How much greater?  who knows?   

As far as transaction fees interfering with the ability to justify transactions of less than $500, yes there likely is some truth to that, and so yes it could be difficult to know how long these levels of fees are going to be able to persist.  Someone is paying for those kinds of fees because transactions are still being processed at those higher rates.  So yes, for the little guy and for the regular transactions, there seem to be some temporary obstacles in regards to cost, and those people who have several options are better off than those who might ONLY have bitcoin as an option... and surely some might resort to transacting on shitcoins, yet I would think that these ongoingly high fees should be inspiring the consideration of various other bitcoin-related options and motivations to build various other bitcoin-related options..   Did anyone believe that there are not any costs in terms of transacting on bitcoin and surely some inconsistencies in the fees.. It may scare some people out of the BTC that they own, and it might deter others from buying BTC, but what does that mean for regular (or longer-term) BTC HODLers?  Coins will be cheaper for longer.. so anyone who knows about bitcoin should not be deterred from continuing to stack sats, even though they might not be able to transact with low fees for the time being.    Anyone who knows about bitcoin should not let these kinds of obstacles deter them from realizing that they better be sufficiently/adequately preparing their lil selfies for UPpity.. just in case, even though downity and/or sideways might be in the works.. too.. maybe .. and maybe not..

Hello there, i have a little trouble, i bought a 64GB SD Card, is it too hight to flash braiin's os?

This has been usually the worst time for BTC, whenever we approach the year-end, things collapse, I assume with fees being this high it must feel terrible to many Bitcoin users, price seems to be holding, and miners are having the best time, times they have not seen this year, not that they desperately need it given the continuous expansion without the fee raise, but ya, at least, small/home miners could really use that little extra profit.

Faith is not all bad.
It's where you put it that counts.
Faith in code, not god!

Bitcoin going up,
And then down, and then sideways...
Crystal Ball told me!

A piece of paper.
Two alphanumeric strings.
No firmware updates!

ETF or not,
Expect a 6-digit price,
In under a year!

Disney going woke...
I used to read Mickey Mouse.
They raped my childhood!

Banks are here to stay.
Bitcoin is here to stay, too.
Equilibrium!

Nice trick there, Philip!
Thanks for educating us,
On mining secrets.

#7wodigestsundayhaikus

For little amount of bitcoin, lightning network can be used. Wallet of Satoshi and Mini Muun wallet can be used if you can not open channel. If channel is not opened, no on chain transaction fee that eiuld be paid.

Also for small amount of coins, you can still use those altcoins pegged to bitcoin price. There are many of them like those on Binance Smart Chain. They are not reliable like bitcoin but no option in time like this.

Bitcoin fee is too high. What are bitcoin developers doing. They need to do something about this.

You will only get burned if you prioritize altcoins over bitcoin. But if you are wise in your investment and you maximize bitcoin investment over other shit coins or altcoins, then you have nothing to worry because in the end, you will still be more profitable with bitcoin even without the presence of altcoins. Altcoins are just a pump and dump scheme, so you can't trust majority of them that they will sustain their value for long.

However, if you invest into altcoins for short term and with an amount that you are comfortable losing, then most likely that will not create problems for you. There will only be problems if you focus on altcoins because of their too good to be true promises that are most of the time fails in the end. So always invest wit caution and always stick to bitcoin.

yeah, i think we all realize there's some altcoins with tiny fees. but to some people that kind of makes them feel like a traitor to bitcoin. they thought they could use bitcoin for all their banking needs. well, if you're willing to pay then i guess you can! but lesson #1 is the blockchain doesn't care about how expensive it is for people to make a transaction it really couldn't care less. otherwise it would have been designed such that the fee could never be more than a certain amount in US dollars. I realize that doing that would require an oracle of some kind and people would be against that though...

With bitcoin the way it is right now, that doesn't seem logistically possible to do, aka, micropayments. Unless you as the node operator accept Litecoin. or some other altcoin with low fees. but that would be like encouraging people to use Litecoin instead of bitcoin...

https://bitcointalk.org/index.php?topic=5431167.msg63341261#msg63341261
<snip>
block fees

4.60
5.29
2.49
3.47
3.04
3.95
3.20
2.37
3.24
3.43
2.87
3.01
3.98
3.57
4.60
4.45
3.11
3.73
4.36
4.38
4.38
4.00
3.62
3.41
3.01
2.63
2.56
4.29
2.83
2.79
2.90
3.19
3.25
2.65
3.60
3.93
4.75
2.94
2.84
2.55
3,58
3.70
3.65
3.56
3.96
4.64
5.40
4.51
4.77
5.55
5.55
6.19
5.44
5.71
6.36
6.76
6.89
7.86
6.36
5.83
5.96
5.06
4.17
4.07
3.94
3.40
4.74
3.24
3.09
3.67
3.41
3,41
3.29
3.30
4.00
2.98
3.85
4.81
3.83
3.83
3.83
3.75
3.46
4.58
4.18
3.46
3.57
4.60
3.19
4.36
3.08
2.56
3.65
3.51
3.21
3.27
3.62
3.19
3.80
3.14
3.41
3.62
3.43
3.71
3.91
3.57
3.45
3.96
3.57
3.45
3.96
4.72
3.67
3.82
4.52
4.46
4.11
 0 >>>>>>>>>> ant pool
3.99
4.08
3.94
4.46
3.53
3.64
3.88
3.99
4.05
5.26
4.02
4.41.
4.25
4.29
4.73
4.75
5.00
6.01
5.88
6.51
5.54
6.30.
5.00
5.09
5.39
6.25
4.73
5.05
5.73
5.38
6.07

0 >>>>> AntPool

5.41
5.35
6.66
6.08
5.53
5.84
6.24
6.61
7.74
7.05,
5.56
5.91
6.15
5.91
5.99
6.45
6.74
6.93
7.38
7.41,
8.05
7.31
7.16
4.87
4.84
4.84
4.07
4.19
4.61
4.08.
4.08
4.80
4.48
4.22
4.66
3.88
3.76
4.19
2.76
4.13,
3.04
3.05
3.22
3.17
3.56
3.38
3.99
3.85
3.13
3.21,
3.56
3.38
3.73
3.57
3.79
3.77
4.21
4.58
3.89
4.29,
3.03
3.21
3.11
2.30
2.54
2.33
2.25
2.78
2.33
2.67,
2.33
2.66
2.59
3.03
3.26
2.92
2.23
2.37
2.57
2.98,
2.40
2.85
2.38
2.61
2.57
1.68
1.77
2.17

So, hibernating like bears already?
Wake up!!!! Everything is positive!

Hashrate growth is


Fees are skyrocketing
https://mempool.space/block/000000000000000000008ed27e5d18709c450b78367df4bfbf37dd7b9a1fb6ec
Total fees   ‎7.861 BTC $329,417

Christmas spirit!! Or somethin like that for the 80% of the rest of the globe who doesn't have Christmas!
Imagine we wouldn't have a positive adjustment and so 40 less blocks, how would the fees look like tomorrow afternoon/ night?
Yummmy yummy!!!

block fees

4.60
5.29
2.49
3.47
3.04
3.95
3.20
2.37
3.24
3.43
2.87
3.01
3.98
3.57
4.60
4.45
3.11
3.73
4.36
4.38
4.38
4.00
3.62
3.41
3.01
2.63
2.56
4.29
2.83
2.79
2.90
3.19
3.25
2.65
3.60
3.93
4.75
2.94
2.84
2.55
3,58
3.70
3.65
3.56
3.96
4.64
5.40
4.51
4.77
5.55
5.55
6.19
5.44
5.71
6.36
6.76
6.89
7.86
6.36
5.83
5.96
5.06
4.17
4.07
3.94
3.40
4.74
3.24
3.09
3.67
3.41
3,41
3.29
3.30
4.00
2.98
3.85
4.81
3.83
3.83
3.83
3.75
3.46
4.58
4.18
3.46
3.57
4.60
3.19
4.36
3.08
2.56
3.65
3.51
3.21
3.27
3.62
3.19
3.80
3.14
3.41
3.62
3.43
3.71
3.91
3.57
3.45
3.96
3.57
3.45
3.96
4.72
3.67
3.82
4.52
4.46
4.11
 0 >>>>>>>>>> ant pool
3.99
4.08
3.94
4.46
3.53
3.64
3.88
3.99
4.05
5.26
4.02
4.41.
4.25
4.29
4.73
4.75
5.00
6.01
5.88
6.51
5.54
6.30.
5.00
5.09
5.39
6.25
4.73
5.05
5.73
5.38
6.07

0 >>>>> AntPool

5.41
5.35
6.66
6.08
5.53
5.84
6.24
6.61
7.74
7.05,
5.56
5.91
6.15
5.91
5.99
6.45
6.74
6.93
7.38
7.41,
8.05
7.31
7.16
4.87
4.84
4.84
4.07
4.19
4.61
4.08.
4.08
4.80
4.48
4.22
4.66
3.88
3.76
4.19
2.76
4.13,
3.04
3.05
3.22
3.17
3.56
3.38
3.99
3.85
3.13
3.21,
3.56
3.38
3.73
3.57
3.79
3.77
4.21
4.58
3.89
4.29,
3.03
3.21
3.11
2.30
2.54
2.33
2.25
2.78
2.33
2.67,
2.33
2.66
2.59
3.03
3.26
2.92
2.23
2.37
2.57
2.98,
2.40
2.85
2.38
2.61
2.57
1.68
1.77
2.17

If you don't have a glassnode subscription then probably the best you can get is this:
https://charts.woobull.com/bitcoin-congestion/
Blockchain goes to 2016 but beyond that there was nobody really interested in the mempool

You can see here why:
https://www.blockchain.com/explorer/charts/avg-block-size
Blocks were most of the time not full so there was no congestion whatsoever so no mempool going above 2-3MB!

LE:
Blockchair shows ~4900 blocks over 975kb from 2010 till 2016 Jan 1st
So those being random, it's 5 out of 130 on average, not enough to make the mempool worth a subject of discussion!

Okay, so it seems to be more of a tracking issue and for whatever reason this only starts in 2017 but technically this data should be available to scrape and put into a graph (since we can look it up manually as data in the Blockchain is available for everyone).
And to conclude: For earlier bull markets, substantial fees didn't seem to be a problem  (as only 2013 / 2014 should be relevant here), in opposition to the crypto winter late 2014 - late 2016).

But what we can see in the chart from Jochen Hoenicke, even in January 2017, there was substantial weight in the Mempool. So probably, this increase has been rather sharp end of 2016, probably?

https://mempool.space/block/000000000000000000008ed27e5d18709c450b78367df4bfbf37dd7b9a1fb6ec

Fees are more than block rewards! mempool cost is crazy at the moment!

Is this a way to artificially suppress the price…

I don't know. This is madness. There is a second-layer shitcoin market that's currently all the rage on bitcoin, but the bubble has to pop at some point. Its gonna be brutal for them, good for everyone else.

Same. I don’t see us even hitting $50K this month/year. It would require breaking through some pretty long lasting resistance levels. $45K or maybe even $47K I would see as possible, but it would take a great deal of buying to get us to even $49K, let alone breaking the psychological barrier of $50K in such a short time.

Why give users a private key, instead of sending Monero to an address? It sounds like an exchange with increased risk.

You recall correctly! But it wasn't because the Bitcoin price was high enough, it was guaranteed over $300 per week if someone made the allowed 50 posts to be paid as it was a flat rate for every participant of $6 per post. Depending on the month, it was ~ $1300-1350 per week month. In many places of the world, an account in that signature campaign would get them above average income per month.

I guess it's not possible to do merged mining (BTC + BCH + BSV) with SHA-256 ASICs? (like Scrypt ASICs can do merged mining -> LTC + DOGE)

Maybe someone knows a website, where we can see Bitcoin’s Memepool statistics from pre 2017? I’ve checked various websites and it’s always just from 2017 until today. Previous data doesn’t seem to be available anywhere, like here from Jochen Hoenicke‘s Memepool statistics:


https://jochen-hoenicke.de/queue/#BTC,all,weight

Does someone know any known site, where we can find data like from 2011 or 2012 until today?
I’m not a coder, so I don’t know if there’s any technical detail preventing it for the public, to look up earlier data because it’s not available maybe?
Because ALL sites I’ve checked, it’s always just starting in 2017…
It's a bit odd...