Amph
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Activity: 3206
Merit: 1069
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June 22, 2015, 03:09:03 PM |
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Blockchain.info not refreshing anymore.
Other people with the same problem?
same thing, operations are much slower  |
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Transactions must be included in a block to be properly completed. When you send a transaction, it is broadcast to miners. Miners can then optionally include it in their next blocks. Miners will be more inclined to include your transaction if it has a higher transaction fee.
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Quickseller
Copper Member
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Activity: 2870
Merit: 2298
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June 22, 2015, 03:11:03 PM |
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Starting to go crazy.
wonder if more miners came online just for this test? Very fast block times right now.
I don't think this will have any significant increase in the profitability of miners. The OP has a budget of 20 BTC to spend in fees today verses 3,600 BTC in block subsidies per day. That works out to be a ~.55% increase in anticipated mining revenue, probably not enough to justify brining unprofitable miners back online. |
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RealMalatesta
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Activity: 2338
Merit: 1124
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June 22, 2015, 03:16:55 PM |
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Predictions is true:
I'm wondering why you are doing this. You say that you are a millionaire who's losing patience with Bitcoin, yet you do this stress test. So I wonder what the background really is. |
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digicoinuser
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Activity: 2702
Merit: 1072
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June 22, 2015, 03:17:55 PM |
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Is this something new or have tests like this been done before? Either way, looking forward to the final results.
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KingAfurah (OP)
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Activity: 28
Merit: 0
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June 22, 2015, 03:20:05 PM |
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I'm wondering why you are doing this. You say that you are a millionaire who's losing patience with Bitcoin, yet you do this stress test. So I wonder what the background really is.
It needs to be figured out if Bitcoin is ready for mass adoptions. Results will be very important. This test only cost 20BTC which is about $5000 per day, not much money for USA or Russia or China government. They could probably even afford much much stronger "stress test" lasting weeks or months. |
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Xialla
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Activity: 1036
Merit: 1000
/dev/null
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June 22, 2015, 03:24:42 PM |
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It needs to be figured out if Bitcoin is ready for mass adoptions.
Results will be very important.
This test only cost 20BTC which is about $5000 per day, not much money for USA or Russia or China government.
They could probably even afford much much stronger "stress test" lasting weeks or months.
agreed. even some users here are obviously not happy at all, I like this kinds of tests. Will you share also some output and results which may help with future development? |
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kenw2
Sr. Member
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Activity: 344
Merit: 250
Feed me btc ^
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June 22, 2015, 03:26:45 PM |
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Blockchain.info not refreshing anymore.
Other people with the same problem?
same thing, operations are much slower Whoah, blockchain.info isn't refreshing for me either!  You can tell this stress test is going on. |
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RealMalatesta
Legendary
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Activity: 2338
Merit: 1124
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June 22, 2015, 03:27:22 PM |
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I'm wondering why you are doing this. You say that you are a millionaire who's losing patience with Bitcoin, yet you do this stress test. So I wonder what the background really is.
It needs to be figured out if Bitcoin is ready for mass adoptions. Results will be very important. This test only cost 20BTC which is about $5000 per day, not much money for USA or Russia or China government. They could probably even afford much much stronger "stress test" lasting weeks or months. I agree about the importance of such a stress test and the potential impact a really big stresstest could have on the network. So if you are speaking for the comany, I fully understand the (potential) motivation. But I'm more interested to know why you, as a person who lost patience in Bitcoin, are doing this. |
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KingAfurah (OP)
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Activity: 28
Merit: 0
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June 22, 2015, 03:35:18 PM |
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pereira4
Legendary
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Activity: 1610
Merit: 1183
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June 22, 2015, 03:36:37 PM |
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I'm wondering why you are doing this. You say that you are a millionaire who's losing patience with Bitcoin, yet you do this stress test. So I wonder what the background really is.
It needs to be figured out if Bitcoin is ready for mass adoptions. Results will be very important. This test only cost 20BTC which is about $5000 per day, not much money for USA or Russia or China government. They could probably even afford much much stronger "stress test" lasting weeks or months. They could fuck us up real bad if they wanted to, specially in cooperation. Thats why we need Gavin's 8mb increase + Gmaxwell's LN working pronto. |
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AgentofCoin
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Activity: 1092
Merit: 1001
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June 22, 2015, 03:42:44 PM |
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According to this, and projecting to 24:00 GMT, that could be a fee of 0.0065 to get into the next block. That is about $1.30 per transaction during a time of load like 130mb backlog. ....By 24:00 GMT Monday June 22nd, the mempool of standard fee transactions will be 130mb ....
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I support a decentralized & unregulatable ledger first, with safe scaling over time.
Request a signed message if you are associating with anyone claiming to be me.
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LiteCoinGuy
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Activity: 1148
Merit: 1010
In Satoshi I Trust
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June 22, 2015, 03:50:22 PM |
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I'm wondering why you are doing this. You say that you are a millionaire who's losing patience with Bitcoin, yet you do this stress test. So I wonder what the background really is.
It needs to be figured out if Bitcoin is ready for mass adoptions.Results will be very important. This test only cost 20BTC which is about $5000 per day, not much money for USA or Russia or China government. They could probably even afford much much stronger "stress test" lasting weeks or months. No it isnt ready. Now you can end the test and save your money dude  |
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kendog77
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June 22, 2015, 03:57:04 PM |
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I'm wondering why you are doing this. You say that you are a millionaire who's losing patience with Bitcoin, yet you do this stress test. So I wonder what the background really is.
It needs to be figured out if Bitcoin is ready for mass adoptions. Results will be very important. This test only cost 20BTC which is about $5000 per day, not much money for USA or Russia or China government. They could probably even afford much much stronger "stress test" lasting weeks or months. I applaud your efforts. This test should give folks a very good idea about exactly what will happen on the Bitcoin network in the near future if the block size is not increased. If the Bitcoin network is not resilient enough to withstand this test, then it is not designed very well. Thank you and good job! |
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johnyj
Legendary
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Activity: 1988
Merit: 1012
Beyond Imagination
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June 22, 2015, 04:26:11 PM |
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I don't think that is a big deal. Except for some active traders, average people are actually very flexible when it comes to transaction confirmation time. Since 90% of the bitcoins are used as long term investment, it does not really matter you bought it one day earlier or you sell it one day later Banks are all closed during the weekend, but that does not drive all the people to 24/7 internet banks. They will patiently wait for the Monday to do business again. Even bible said that you should not work on Sunday  |
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lunarboy
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June 22, 2015, 04:31:42 PM |
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By 14:00 GMT Monday June 22, the mempool of standard fee transactions will be 10mb By 24:00 GMT Monday June 22nd, the mempool of standard fee transactions will be 130mb By 13:00 GMT Tuesday June 23rd, the mempool of standard fee transactions will be 241mb
Not really seeing the massive build up yet. next block is now due and only 4k transactions waiting? |
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RealMalatesta
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Activity: 2338
Merit: 1124
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June 22, 2015, 04:34:07 PM |
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I don't think that is a big deal. Except for some active traders, average people are actually very flexible when it comes to transaction confirmation time. Since 90% of the bitcoins are used as long term investment, it does not really matter you bought it one day earlier or you sell it one day later
"Average people" haven't even started to adapt Bitcoin. And one argument is that transactions can go through fast. At least faster then with banks. So if a transaction through the Bitcoin network becomes slower for them, Mr. and Mrs. Average will most likely not use it. |
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colinistheman
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June 22, 2015, 04:36:46 PM |
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By 14:00 GMT Monday June 22, the mempool of standard fee transactions will be 10mb By 24:00 GMT Monday June 22nd, the mempool of standard fee transactions will be 130mb By 13:00 GMT Tuesday June 23rd, the mempool of standard fee transactions will be 241mb
Not really seeing the massive build up yet. next block is now due and only 4k transactions waiting? Yeah this doesn't appear to be a very big stress test. It looks like just an hour or two of higher-than-average transactions per second, and now back to normal. I'm wondering if coinwallet.eu failed to carry through with their plan and all we're seeing is other contributers who wanted to add to the movement. |
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johnyj
Legendary
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Activity: 1988
Merit: 1012
Beyond Imagination
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June 22, 2015, 04:47:11 PM
Last edit: June 22, 2015, 05:16:30 PM by johnyj |
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I don't think that is a big deal. Except for some active traders, average people are actually very flexible when it comes to transaction confirmation time. Since 90% of the bitcoins are used as long term investment, it does not really matter you bought it one day earlier or you sell it one day later
"Average people" haven't even started to adapt Bitcoin. And one argument is that transactions can go through fast. At least faster then with banks. So if a transaction through the Bitcoin network becomes slower for them, Mr. and Mrs. Average will most likely not use it. Unless they are holding some bitcoins for the long term, which is the major usage right now The idea behind this test is good. If a large entity can spam the network with large amount of transactions (Banks for example, could throw in million dollar without difficulty, if they feel that bitcoin is competing with their business), then the best way to defend is to raise the block size 100 times: With larger block size, to spam the network would require much more resources, and it will be much easier for miners to see the spam nodes (with huge amount of transactions) and block them It seems the network is back to normal now, maybe OP's nodes are all blocked right now  |
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Meuh6879
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Activity: 1512
Merit: 1011
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June 22, 2015, 05:12:04 PM |
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agreed.
even some users here are obviously not happy at all, I like this kinds of tests.
me too, that is a perfect "in situation" datas to permit to developpers to view if they can change somes approch of the developping process of Bitcoin network. https://getaddr.bitnodes.io/dashboard/ |
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johnyj
Legendary
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Activity: 1988
Merit: 1012
Beyond Imagination
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June 22, 2015, 05:19:36 PM |
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And exchange rate was not affected by this test, showing that real economy activities have nothing to do with exchange rate, which is mainly decided at exchange
This is true for fiat money too, their exchange rate is maintained by central banks with huge amount of currency reserve, have nothing to do with real economy. In fact, banks affect economy through manipulating exchange rates
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