Stress test is underway - Watch your fees.

[RoadTrain]

imho if you can't send a dust transaction with no fee in a meaningful time, bitcoin has lost it's purpuse.

Sorry, but it seems you are one of those misunderstanding Bitcoin's original purpose. It's made as trustless, censorship-resistant money, not as free payment system.

[1714872647]

1714872647

[Carlton Banks]

I've been doing transactions non stop during the last hours and all of them have been confirmed in the next block.

Stress test? Zero fucks were given by Bitcoin.

Indeed I haven't noticed that so called stress test too I just read about it by my transactions were confirming as usually during last 24h.

:-)

Best regards.

You guys probably used old outputs in your transactions. Old outputs displace newer outputs when the transactions get mined, according to standard priority settings in Bitcoin Core. Good idea to keep old unspent coin around for these spam attacks, there are a hell of alot of variables the spammers cannot manipulate like that.

As far as the Core client goes, there was a patch to mitigate these attacks in the Core git repo a few weeks ago, but I guess it's either still being tested or got shelved. Can't rush this stuff unfortunately, introducing new problems when you're supposed to be solving them is not the idea.

[Hugroll]

its currently at 24.5k unconfirmed tx 64mb. it says that transactions per second are 0.55?? is that accurate

[Hugroll]

i imported a 2 btc key to my wallet, got soo happy. then i couldn't sweep it

[Meuh6879]

http://statoshi.info/dashboard/db/transactions

[Meuh6879]

https://blockchain.info/unconfirmed-transactions

26 000 transactions in waiting queue.

66Mb block to liquidate this.

[Mickeyb]

I will reduce my Bitcoin transactions as much as possible during this "stress test". There was enough time to prepare myself and I did that.

Why would you do that? I have just sent 2 BTCs to Poloniex and it got confirmed right away. I have put a fee of 0.0002. Normally I send it with 0.0001. So that's a difference of about 2.5 cents, I am sure this won't kill you unless you are sending hundreds of transactions each day.

For users that are ready to keep attention and pay couple of cents more these stress tests are pointless.

[Q7]

I guess as a user, we are left with little choice but to live with it. Can imagine what it would like if one day bitcoin usage does pick up. Time to use the higher fee to speed up the transaction.

[Hugroll]

I guess as a user, we are left with little choice but to live with it. Can imagine what it would like if one day bitcoin usage does pick up. Time to use the higher fee to speed up the transaction.

if the usage picked up in the near future, i dont think it would have a giant affect on the fees maybe they'll go upto around ~0.0004 but thats not that bad either. unless you only use bitcoins for small transactions.

[johnyj]

thanks for the warning, OP.
I hate these stress tests. it doesn't even have any benefit for anyone.
I wonder how much BTC they will waste trying to create 1 month backlog...

The last I read, I think they stated they were planning on spending 200 BTC.

I have no idea if they will actually waste a full 200 BTC on their little stunt, or if that's just meant to be some sort of scare tactic.  I guess we'll see.

That or someone is funding them to push support for bigger blocks and use it as an excuse, I get it some people want bigger blocks and this includes people with money but this is not how we get a consensus.

It just proved that bigger blocks are even more problematic during such kind of stress: The attacker can still spend 200 BTC and create 10x more traffic with 10x lower fee in each transaction, but the 10x larger mempool and 10x larger block will definitely crash most of the nodes

Anyway, nodes will start to filter the spam transaction by raise the relay fee threshold when they see the mempool is too large, this will drop low-fee transactions. Unless the spam transactions would pay a higher fee than many of the legitimate users, it won't make a sense

[Blawpaw]

I'm already becoming pretty bored with all this! I'm getting tired of having to pay high fees (.0005) to withdraw funds from the exchanges. This is killing arbitrage trading...

[Kprawn]

Have anyone figured out if other attacks are also being done, apart from this "test" attack? I would think other people would piggy back on this opportunity to mask their attack

in the confusion and to get more results with less money.  Well, they achieved one thing from this test... They have proven human greed is stronger than what most of us

anticipated. People would kill the "Golden Cow" to get to the free milk.  ....The only winners here... The Miners.   

[adamstgBit]

bitcoin is passing the stress test, that's what i see. if anything this is a point for 1MBers.

[acoindr]

It just proved that bigger blocks are even more problematic during such kind of stress: The attacker can still spend 200 BTC and create 10x more traffic with 10x lower fee in each transaction, but the 10x larger mempool and 10x larger block will definitely crash most of the nodes

That's not how it works. The block size limit doesn't allow for lower fees. It only allows miners to process larger blocks if and when desired to clear out a larger number of transactions. Think of it this way: most of the time, not during stress tests, blocks are not full; the 1MB limit exists but there is still room to go as miners create smaller blocks. This doesn't change the fee people pay to have transactions relayed and included. The only difference large blocks have on a 'stress test' is they allow a miner to clear out a backlog of transactions, meaning users are less likely to experience confirmation delay. A limit ten times higher means it costs at least ten times more to create a backlog.

bitcoin is passing the stress test, that's what i see. if anything this is a point for 1MBers.

What would happen if the load was 10 times more intense? Right now Bitcoin doesn't have tremendous adoption, only a few million users or so, but everyone expects that to change. What happens if blocks are normally full and a test occurs, say 10 times larger? Coinwallet's budget is $50K, but it's conceivable to imagine enemies with $500K resources. Western Union, for example, profits 40 million dollars per day.

[AtheistAKASaneBrain]

I will reduce my Bitcoin transactions as much as possible during this "stress test". There was enough time to prepare myself and I did that.

There isn't any problem if you use the standard fee. I have done lots of transactions during the test and not a single one gave me problems except if I wanted to get cheap with the fees.

[Carlton Banks]

They have proven human greed is stronger than what most of us anticipated. People would kill the "Golden Cow" to get to the free milk.  ....The only winners here... The Miners.   

I don't know, if they're killing the cow long term, doesn't that negate the incentive to go for the short term gain? Not everyone's rational though, I know.

[fenican]

Note that the Bitcoin network presently pays about $5.8 USD per transaction. That includes some fees but mostly the mining reward.

https://blockchain.info/charts/cost-per-transaction

A bit irresponsible for people to abuse low transaction fees to spam the network particularly while the 1MB cap is in place.

[mallard]

Note that the Bitcoin network presently pays about $5.8 USD per transaction. That includes some fees but mostly the mining reward.

https://blockchain.info/charts/cost-per-transaction

A bit irresponsible for people to abuse low transaction fees to spam the network particularly while the 1MB cap is in place.

Can you explain this statistic?
It doesn't cost $5.8 in tx fees

[tss]

ohh no.. so much spam to send and the network is not confirming it all in the first block.  the horror.. the horror.

nothing to see here.  business is usual.  only spammers have issue and complain about this.  the resilient bitcoin network is dealing with spam properly.  as for the backlog.  it should just be dumped.

For those you might be in a hurry to get a confirmation it is a pain in the ass. Ignoring that won't make the problem magically go away.

TOTAL BS.  i make transactions during stress test and they confirm in the first block.  then again im not sending gambling dust.

[p3yot33at3r]

Seeing as coinwallet.eu see it as acceptable to spam the network again for no reason, I'm sure they'll be fine with being spammed themselves:

info@coinwallet.eu

or

https://www.coinwallet.eu/contact

Feel free to contact them with as much spam as you feel appropriate. You can also let your feelings be heard by leaving some kind of trust statement on their profile for everyone to read  

https://bitcointalk.org/index.php?action=trust;u=553487

Knock yourselves out.