Bitcoin Is Making Progress

[notbatman]

Due to the recent upward surge in the price of BTC Bitcoin has come under severe attack. The attacks are costing the attackers money but they're failing to shut down the network.

I'd like to report that in spite of the attacks transactions (with a reasonable miner fee) have been going through with no problems.

[Coinshot]

i agree these attacks will make bitcoin , only stronger, if those who do not believe in bitcoin start to look at it now
they might see how much the network is reliable, because the price is rising while we are being attacked, thus great confidence will be built
but i think something like litecoin fee structure should be implemented to help this unnecessary spam
i'm talking about this https://bitcointalk.org/index.php?topic=1116180.msg11834543#msg11834543

[OmegaStarScream]

Now those are some new informations for me , how bitcoin can be attacked on the first place ? I keep hearing that we should run Bitcoin Core client as node so we help the Network but not sure protecting from what exactly , is this how we protect Bitcoin basically ? by running several nodes and that's it ?

[cristiwn]

Most likely is talking about this : https://bitcointalk.org/index.php?topic=1113292.0 .

Some kind of expensive spam :d

[nonbody]

What attacks are you referring to?

the spamming of transactions i believe

[IIOII]

What attacks are you referring to?

the spamming of transactions i believe

That's not an attack, because there is no problem with transactions that pay an adequate fee. It's simply spam that won't last, because miners and fees are adjusting so the spammers will just burn money.

That said, I still think it's advisable to enforce a more aggressive policy against such dust transactions. Fees should rise non-linearly under circumstances that indicate dust transactions.

[lorylore]

Why is the main factor of this huge jump today?
Slowly it is going down again and again.

[notbatman]

[manselr]

Due to the recent upward surge in the price of BTC Bitcoin has come under severe attack. The attacks are costing the attackers money but they're failing to shut down the network.

I'd like to report that in spite of the attacks transactions (with a reasonable miner fee) have been going through with no problems.

Those attacks will make bitcoin stronger only if we start taking action and adding fixes in the software, for starters, the one proposed by cobble which got rejected back in the day (thats why he basically created LTC).
Once we get this set and done, we can start raising the blocksize limit.

[doublemore]

this is some good technical analysis

[dothebeats]

Nodes are necessarily needed in the network because they validate a block and a transaction fully. After a certain validation of a tx or a block, it will then relay the information to another node and repeat the same process all over again until the whole network is informed of the certain tx or block. It helps the network secure by running a full node. Why? Because you contribute on validating transactions and blocks by just running the bitcoin-core on your machine.

[Meuh6879]

Like a boss, Bitcoin is 1 man ... and wave chock after launch.

[lorylore]

Like a boss, Bitcoin is 1 man ... and wave chock after launch.

Here is another one like a boss : https://i.imgur.com/OQW2ipi.jpg