CoinWallet.eu Stress Test Cancelled + Bitcoin Giveaway

[adamstgBit]

Imagine that a billionaire throwing out $20 notes every second at the top of Empire State Building， it will immediately jam the traffic in whole Manhattan  

But that does not mean that you have to upgrade the road infrastructure of the New York city because of this

The stress test will prove that no matter how strong your infrastructure is, there is always a way to create chaos in the network, so the natural solution is to let the fee market develop, thus make the attack more and more expensive and become totally unfeasible

Currently the optimum fee is not automatically calculated for each client, there should be a fee market price feed into major clients

it kinda is like that isn't.

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[johnyj]

So, what, I uploaded a shit ton of these keys, it says I have oodles of btc in my blockchain acc, and I can't do shit with it... Fucking useless I guess, unless anyone has any ideas?

Basically it does not worth the effort, you are most likely to be able to pull out 0.005 bitcoin if you are lucky enough to broadcast a transaction with more than 500 inputs of 0.00001 bitcoin and get it confirmed by some of the nodes, that's $1 but will waste you a couple of hours time

[knight22]

This is the most fumiest stress test I've seen right after this one https://www.youtube.com/watch?v=4nAc7wab-l4 

[coinableS]

So, what, I uploaded a shit ton of these keys, it says I have oodles of btc in my blockchain acc, and I can't do shit with it... Fucking useless I guess, unless anyone has any ideas?

Basically it does not worth the effort, you are most likely to be able to pull out 0.005 bitcoin if you are lucky enough to broadcast a transaction with more than 500 inputs of 0.00001 bitcoin and get it confirmed by some of the nodes, that's $1 but will waste you a couple of hours time

I learned something today.
This experiment showed that several people don't fully understand how bitcoin transactions are constructed and how bitcoin ownership works. Several people seemed to think that 'sweeping' somehow automatically moves the inputs into their address without having to create a transaction. Sweeping does not move any coins and does not change coin ownership. Sweeping is just a layer that certain wallets provide that makes it look like everything has merged into one address when it really has just added a private key to your wallet.

[onemorexmr]

So, what, I uploaded a shit ton of these keys, it says I have oodles of btc in my blockchain acc, and I can't do shit with it... Fucking useless I guess, unless anyone has any ideas?

Basically it does not worth the effort, you are most likely to be able to pull out 0.005 bitcoin if you are lucky enough to broadcast a transaction with more than 500 inputs of 0.00001 bitcoin and get it confirmed by some of the nodes, that's $1 but will waste you a couple of hours time

I learned something today.
This experiment showed that several people don't fully understand how bitcoin transactions are constructed and how bitcoin ownership works. Several people seemed to think that 'sweeping' somehow automatically moves the inputs into their address without having to create a transaction. Sweeping does not move any coins and does not change coin ownership. Sweeping is just a layer that certain wallets provide that makes it look like everything has merged into one address when it really has just added a private key to your wallet.

about what wallet you are talking?

usually:
import: import the address in your wallet and dont do any transaction
sweep: move funds in your wallet and forget that privkey

[wladston]

It was fun to keep on spending these txs

But now F2Pool got in the game, they spoiled it :/ Unless we have more keys to play with?

[coinableS]

So, what, I uploaded a shit ton of these keys, it says I have oodles of btc in my blockchain acc, and I can't do shit with it... Fucking useless I guess, unless anyone has any ideas?

Basically it does not worth the effort, you are most likely to be able to pull out 0.005 bitcoin if you are lucky enough to broadcast a transaction with more than 500 inputs of 0.00001 bitcoin and get it confirmed by some of the nodes, that's $1 but will waste you a couple of hours time

I learned something today.
This experiment showed that several people don't fully understand how bitcoin transactions are constructed and how bitcoin ownership works. Several people seemed to think that 'sweeping' somehow automatically moves the inputs into their address without having to create a transaction. Sweeping does not move any coins and does not change coin ownership. Sweeping is just a layer that certain wallets provide that makes it look like everything has merged into one address when it really has just added a private key to your wallet.

about what wallet you are talking?

usually:
import: import the address in your wallet and dont do any transaction
sweep: move funds in your wallet and forget that privkey

Yes but the transaction still needs to take place. People were sweeping these keys thinking they would automatically have these funds moved to their wallet. The sweep imports the key and then creates a transaction to move the inputs, it's just a layer.

[AlexGR]

But now F2Pool got in the game, they spoiled it :/

What happened?

[wladston]

But now F2Pool got in the game, they spoiled it :/

What happened?

They are clearing a lot of the dust, and including HUGE transaction fees. They probably have ready-made scripts for that.

[ABitNut]

But now F2Pool got in the game, they spoiled it :/

What happened?

They are clearing a lot of the dust, and including HUGE transaction fees. They probably have ready-made scripts for that.

It's what I would do if I ran a mining pool.

[n3lz0n]

dont bother....its will just waste ur time...

[NorrisK]

But now F2Pool got in the game, they spoiled it :/

What happened?

They are clearing a lot of the dust, and including HUGE transaction fees. They probably have ready-made scripts for that.

It's what I would do if I ran a mining pool.

Indeed, they have a good chance of taking those fees through their mining operations.

Funny how people are scrambling over this dust, shame for the load it brings to the network

[favdesu]

But now F2Pool got in the game, they spoiled it :/

What happened?

They are clearing a lot of the dust, and including HUGE transaction fees. They probably have ready-made scripts for that.

It's what I would do if I ran a mining pool.

looks like F2Pool are the good guys. how do they do it? what do they get for dust cleaning?

at least coinwallet failed yet again D:

[ChetnotAtkins]

So that was it, or can we expect another round of private keys? It doesn't seem that this test did any stress except to those newb's wallets who don't understand how to contruct transactions.

[Lauda]

They are clearing a lot of the dust, and including HUGE transaction fees. They probably have ready-made scripts for that.

It's what I would do if I ran a mining pool.

They are also helping the network, which is the opposite of what the members were doing. The members have caused a 141 MB (i.e. 141+ block) delay. Let's just hope that the majority of users have stopped wasting their time while suffocating the network in the process. Luckily normal transactions don't seem to be affected to some extent (if at all).

It's been 24 hours and I see no complaints on twitter from the usual Bitcoin devs nor do I see an uproar on Reddit about block delays.

I would pay zero attention to what you don't see here or on Reddit. lol

The /r/bitcoin is one of the most censored subreddits ever created. I think one mod reported that over 50% of the posts and comments are deleted.

How about we stop that nonsense? I seriously doubt that posts about network delays would be censored. That being said, it looks fine over here. Have you tried sending a transaction with a standard or optimal fee?

[chaoman]

great way to create positive pr coin wallet, everybody loves you and supports your service...oh wait.

[findftp]

great way to create positive pr coin wallet, everybody loves you and supports your service...oh wait.

If I was an evil competitor I would user their name for this stress test.

[Mickeyb]

But now F2Pool got in the game, they spoiled it :/

What happened?

They are clearing a lot of the dust, and including HUGE transaction fees. They probably have ready-made scripts for that.

It's what I would do if I ran a mining pool.

looks like F2Pool are the good guys. how do they do it? what do they get for dust cleaning?

at least coinwallet failed yet again D:

I don't think that they got much. They just jumped in and pretty much helped unclog the network. They scooped up all of the dust (they actually know how, have experts, bots and scripts) so that average users (that don't have a clue after all what they are doing) don't harm the network anymore, unintentionally.

You can say what you want, but we will learn a lot from this so called stress test, I am sure about this. F2Pool are definitely good guys and they were here to help their network!

[RealMalatesta]

great way to create positive pr coin wallet, everybody loves you and supports your service...oh wait.

If I was an evil competitor I would user their name for this stress test.

If this were the case, I'd react.

[ABitNut]

There is merely a larger supply of transactions.

Yes, there's a considerable backlog of dust transactions with low fees. This is fine. They will be dealt with when there's less demand for block space. As said before, "normal" transactions are barely affected. Pay fees / having age helps "normal" transactions getting processed with more priority.

Is this a problem for Bitcoin? Maybe mildly... According to Blocktrail a BTC0.00016675 fee will get your transaction into the next block 80% of the time and a BTC0.00006429 fee will get you in the next 2 blocks 80% of the time. That is what... less than $.05 and $.02 respectively. I don't think that any party making a serious transaction would complain about those transaction costs. For me it would only become troublesome when transaction fees start to approach paypal / cc levels.

TL:DR; I don't see the problem.