Coinwallet attack is causing backlog in the network and blockchain...hurting BTC

[jabo38]

If Bitcoin wants to be a global fintech solution, it needs to be way more awesome than it is now.  It needs to be seriously more robust so that a a small group with limited resources can't mess it up so badly.  Seriously, Bitcoin is pretty fragile.  Imagine what a major bank, or a country could do to Bitcoin if it wanted to hurt the network. 

If Bitcoin is going to be awesome, it really is going to need to man up more than this. 

I for one want Bitcoin to succeed and see this stress test not as an attack, but as a nice little check telling the community to get its act together.  Eat a little bit of humble pie and get back to work making a product that isn't fragile.

[Come-from-Beyond]

Just wondering how long these can last.

Till the end of September. Or longer.

[jabo38]

Meanwhile, there are not even full blocks mined.

Blocksize limit is not what is limiting the block size.

The whole blocksize debate is about as useful as counting angels on a pinhead, without the propagation & orphans risk fixed, thrifty pool operators will not fill blocks, they just have very limited incentive to do so as total fees are still small compared to the risk of getting orphaned and losing the whole block reward.

And that describes the problem very well.  Miners are being encouraged to not process transactions.  What kind of network, encourages the people that process the transactions to not process them?  It is a very poorly designed system.   Some changes need to be included in the code where miners would want to have full blocks and not empty.  There was a proposal a while back by Gavin which would actually encourage full blocks to propagate faster verses empty ones, thus encouraging the people that process transactions to.... you know... actually process transactions, but apparently people don't like Gavin's ideas to make Bitcoin work.

[Come-from-Beyond]

If the news are to be bad we might retest this $200.

I set bid order at $152, let's see if I get it filled.

[LiteCoinGuy]

coinwallet is scammers and a very shady company. I don't know what they what to prove with this but i am sure that they have break forever their reputation.

it is a scam-company. dont use their service.

but i have no problem with this spam.

[Come-from-Beyond]

it is a scam-company. dont use their service.

Why is it a scam-company?

[coinplus]

coinwallet is scammers and a very shady company. I don't know what they what to prove with this but i am sure that they have break forever their reputation.

but i have no problem with this spam.

But i have one transaction keep on unconfirmed for more than 10 hours...

[bdon]

Doesn't seem to be affecting anyone accept people who are using very low fees.  All of my transactions have been going in minutes.  And the price is steadily going sideways.  Not sure what you are talking about.

[mallard]

If you're not stingy with the tx fees, it goes through fine.

[Hugroll]

one of my transaction hasnt been confirmed yet, its been 5+ hours. what happens if it doesnt confirm, does it get refunded back to the sending address

[RustyNomad]

Sent a transaction a little earlier and doubled up on the normal fee and it went through without any problems.

[Come-from-Beyond]

one of my transaction hasnt been confirmed yet, its been 5+ hours. what happens if it doesnt confirm, does it get refunded back to the sending address

It won't be refunded, you have to do a "doublespending" if you want to resend it with higher fee. For doublespending you must use the same input(s).

[marky89]

its not really hurting us

It's not affecting the price at all really, just let them carry on with their pathetic self promoting spam attack.

Unconfirmed transactions now above 23,000 according to blockchain.info which is the highest I think I've seen it - https://blockchain.info/unconfirmed-transactions

I don't believe this is about self promotion at all. They are clearly a non-existent company (in fact, criminal, considering they allow you to send them cash and bitcoin without providing the stated services/providing a way to recover your money).

Most likely, they are invested in the prospect of increasing block size, and are using this effort as a way to panic the community into a hard fork that does so. Less likely, they are a group of miners that is profiting from inflated fees (but this is a highly speculative proposition that would require significant hashing power invested and therefore very unlikely).

[Pab]

Well all is in our handy, no? People just need to turn off the greed and stop trying collecting those free coins! I haven't even tried or thought about trying. Why would I be pulling out the chair on which I sit on, I don't get it.

People just give it up and stop trying!!!

Yet another attack on btc last time ,how many will be more ,it is noot only people,bots are doing his works
And you know people are just a people,post that kind of fake giveaway in poor countrys wher every dollar count
in fact it is crime

[Come-from-Beyond]

in fact, criminal, considering they allow you to send them cash and bitcoin without providing the stated services/providing a way to recover your money

Criminal for not babysitting you? Or you call "criminal" everything that few guys in govt labeled as "criminal"?

[marky89]

in fact, criminal, considering they allow you to send them cash and bitcoin without providing the stated services/providing a way to recover your money

Criminal for not babysitting you? Or you call "criminal" everything that few guys in govt labeled as "criminal"?

What? They are, in effect, stealing any money that is sent to them. Go ahead: load their website, assume their promises to credit any cash that you send them in a mail (yes, they provide an address for cash-in-mail), and see what happens when you send it. You will simply have your money stolen.

What are you talking about? If you are endorsing the act of theft, then agree to disagree.

[Come-from-Beyond]

What? They are, in effect, stealing any money that is sent to them. Go ahead: load their website, assume their promises to credit any cash that you send them in a mail (yes, they provide an address for cash-in-mail), and see what happens when you send it. You will simply have your money stolen.

What are you talking about? If you are endorsing the act of theft, then agree to disagree.

If they do steal then it changes everything, I got confused by your "providing a way to recover your money" because it's side-effect of majority anonymous money transfer schemes.

[LFC_Bitcoin]

Over 30,000 unconfirmed transactions now according to blockchain.info - https://blockchain.info/unconfirmed-transactions

This is disgraceful behaviour by Coinwallet to be honest, as a bitcoin company it is negligent to engage in such behaviour attacking the network.

This is definitely the highest number of unconfirmed transactions I can remember seeing even more than previous stress tests spam attacks.

I set bid order at $152, let's see if I get it filled.

I think you'll be left disappointed buddy, the price seems unaffected by this bull shit (so far).

[Come-from-Beyond]

I think you'll be left disappointed buddy, the price seems unaffected by this bull shit (so far).

It's only few days passed, 2+ weeks ahead.

[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.