bitcoin stress test

[ranochigo]

If transactions get delayed and there's a pile of backlog I'm not sure why anybody wants to use it in the first place for making payments. Whether it's an online or even retail business nobody is going to sit there and wait. It's the frustration that will kill you. Yeah, it will survive alright but will the reputation survive to bring the coin in to next level of acceptance??

I use XAPO account for my daily transactions but so for I never faced any delay payments and today also I did couple of transactions all went smooth. I think it also depends how much transaction fee you pay also because times I saw a request to pay slightly higher transaction fee for faster transactions but in XAPO I always do it at free of cost.

Xapo manages your Bitcoin and you would never have full access to your Bitcoin if you store it there. It is also a central point of failure. In most cases, stress tests only require you to pay a slightly higher transaction fee, depending on the intensity of the attack.

If the attacker spams 0.00001BTC/kb fees transactions, you can easily pay 0.0001BTC/kb fee and you would be ranked on top. Usually, Bitcoin transactions don't even require one confirmation to be 90% safe. Most merchants take measures to ensure that double spend risk is minimized when accepting 0 conf transactions.

[newcripto]

The controversial group behind several bitcoin ‘stress tests’ has confirmed it will push ahead with its biggest experiment to date. One more stress test would be executed at 10am Thursday (GMT) next week. Guy, we should prepare for it!

http://www.thebitcoinchannel.com/archives/47571?utm_content=buffer9d3eb&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

Yes. By DDOS-ing their servers at 9:00am.  

These stress tests are very stressful and I was unable to transfer my funds today.It took me surprisingly but thanks to know that Thursday again it will be conducted so this time I will be fully prepared to avoid any stress.

[dothebeats]

We will definitely survive this stress-test, that's for sure. It will end up like this: the stress-tester will burn money just to create thousands of unconfirmed transactions. To be able to do so, he must pay a higher fee to those transactions that came first before his transactions.

[Coinshot]

Stress test will pass, and bitcoin is going to be just fine, but it sure will piss people off like it did in previous instances. I would suggest to everyone to
simply increase tx fee when sending funds while stress testing is active. I hate the fact that you need to do so, because it's quite anoying when you are
sending smaller amounts..

[Enjorlas]

The stress testing will drive the price down significantly but it is not intended to kill Bitcoin.

[poncho32]

Stress test will pass, and bitcoin is going to be just fine, but it sure will piss people off like it did in previous instances. I would suggest to everyone to
simply increase tx fee when sending funds while stress testing is active. I hate the fact that you need to do so, because it's quite anoying when you are
sending smaller amounts..

Not everyone reads the latest news. I hate hearing all the complaints of long confirmation waits when these stress tests start. There's always people who haven't heard about them who are relying on fast confirmations of big transfers they were depending on. Stress testers put some people to a great deal of inconvenience.

[letsplayagame]

The stress testing will drive the price down significantly but it is not intended to kill Bitcoin.

I also have wondered about possible ulterior motives of such a test. Purposely trying to drive down the price could be one possibility

[OrientA]

The only effect the stress test serves is to fill up my hard disk. BTC will survive.

[maokoto]

It will survive, but it is rather bothering for those of us who depend on several small transactions everyday

[nagatlakshmi]

Yes it can! After birth, till now, Bitcoin face lot of stress to stabilize.  So it will continue.

[Franciem]

The only effect the stress test serves is to fill up my hard disk. BTC will survive.

BTC have a great comunity network to long life

[pooya87]

is bitcoin going to survive the bitcoin stress test

yeah, why not. the stress test attacks happened before and just affected the price for a small amount of change. i don't see why it should be any different this time.
these tests are not accomplishing anything anymore, in my opinion. they are just pissing bitcoin users off by making them wait long time for their transactions to get confirmed. and they just make miners happy with lots of miners fee

[Lauda]

I do not see major signs of this 'stress test'. There are ~13.2k unconfirmed transactions on Blocktrail and ~3.1k on blockchain.info right now. This isn't problematic at all. I honestly think that this should not be called a 'stress test' but an attack. Test net exists for a reason (i.e. testing). If this was just a real test it should have been conducted on a test net, not on the actual network.
The network is doing fine for now.

[mallard]

My transactions are still going through fine.

[tadakaluri]

The bitcoin stress tests planned by CoinWallet could breach UK law, a legal professional has suggested.

The claim was first posted on Reddit yesterday, with user 'btcdrak' asserting: "The Computer Misuse Act 1990 in the United Kingdom makes it an offence to deliberately cause disruption to computer systems with intent."

Eitan Jankelewitz, associate at UK law firm Sheridans, said he would tend to agree with this assessment.

The aim of these stress tests is to verify whether the bitcoin network is capable of handling a large stream of very small transactions. CoinWallet’s first test in June aimed to fill blocks with 105 BTC worth of miniscule transactions, but reached just 15% of its 200MB goal before its servers crashed.

"I’m inclined to say there is a good argument that the CoinWallet stress tests would be a breach of section 3 of the CMA 1990," Jankelewitz said.


Source: http://www.coindesk.com/bitcoin-spam-tests-could-violate-uk-law/

[Enjorlas]

Bitcoin set a record on Sept. 16 2016. 256,000 transactions in one day.

https://www.coinbase.com/charts

[OrientA]

Bitcoin set a record on Sept. 16 2016. 256,000 transactions in one day.

https://www.coinbase.com/charts

Unfortunately, most are spam transactions.

[worhiper_-_]

Bitcoin set a record on Sept. 16 2016. 256,000 transactions in one day.

https://www.coinbase.com/charts

Unfortunately, most are spam transactions.

Of course most of those are spam transactions, there's no good reason actual use would rise that much in a day. Even the current everyday use of in-blockchain transactions could be reduced by making bitcoin gambling games using blockchain transactions from bets have off-chain technologies as dice websites do. Luckybit and Satoshidice for example, started with a simple idea but are now owning the addreses with the most transactions ever.

[7788bitcoin]

It seems that normal transactions are not affected and the miners earn extra "dust" for their work.

[OrientA]

It seems that normal transactions are not affected and the miners earn extra "dust" for their work.

But those dusts fill my hard disk space and bandwidth.