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Author Topic: Blocks are full.  (Read 14683 times)
Amph
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February 02, 2016, 11:21:49 AM
 #181

but peopel tend to forget that bitcoin started with 32mb...

There have been no actual blocks created that are bigger than 1MB so it really doesn't matter what was coded back then (you are seemingly trying to imply that we used to have bigger blocks but the fact is that we did not).

no, i'm just implying that all the concern about bigger block, are a bit vaporware, because it's possible to have bigger block even now, without all the issues that everyone is talking about

for example there is no cpu or bandwidth issue, like many are advocating, https://en.bitcoin.it/wiki/Scalability and there are possible optimization to avoid other known issue...

is just unconvenient for somebody to increase it directly, that's it

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mavericklm
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February 02, 2016, 11:26:25 AM
 #182

tell that to antpool and other idiot pool operators:

block: 396256
transactions: 1
relayed by AntPool
size of the block: 0.2kb!!!
The actual number of blocks that are full would be reduced and so would the size of the mempool if they weren't doing this. The Bitcoin network can handle more at 1 MB blocks, but it is the miners fault.

A=> we don't need bigger blocks atm
B=> why should i wipe my ass 10 times, if 5 times is enough Roll Eyes & go back to A!
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February 02, 2016, 12:11:13 PM
 #183

tell that to antpool and other idiot pool operators:

block: 396256
transactions: 1
relayed by AntPool
size of the block: 0.2kb!!!
The actual number of blocks that are full would be reduced and so would the size of the mempool if they weren't doing this. The Bitcoin network can handle more at 1 MB blocks, but it is the miners fault.

A=> we don't need bigger blocks atm
B=> why should i wipe my ass 10 times, if 5 times is enough Roll Eyes & go back to A!

There seems to be an error in your declaration at line A!

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chek2fire
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February 02, 2016, 03:05:41 PM
 #184

all of them that say about to increase block size they want a situation like this.. Tongue

https://etherchain.org/blocks

where 90% of the blocks are empty

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February 03, 2016, 07:29:24 AM
 #185

Right now Bitcoin's price is rallying and block are full. According to blockchain.info backlog of unconfirmed transactions is 11.6 MB right now and as far as I know there is now spam or stress test going on. How worse does it need to get?
it seems not as you think,blocks are not full,many people comment like that,and now i just knowing that unconfirmed transactions is 11.6 MB,is not happen many times.

Matias
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February 03, 2016, 07:44:31 AM
 #186

What do you think, will Antpool stop mining blocks with 0 transactions after block reward halving?

Here is again block with zero transactions

https://blockchain.info/block/0000000000000000082c86f9a810bc6d0ec540e76360b59587a460b9706c01df

There are worth of 0.71 TX fees waiting for collecting, so it is crazy to leave money on the table.

https://blockchain.info/unconfirmed-transactions
RealBitcoin
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February 03, 2016, 08:17:58 AM
 #187

Right now Bitcoin's price is rallying and block are full. According to blockchain.info backlog of unconfirmed transactions is 11.6 MB right now and as far as I know there is now spam or stress test going on. How worse does it need to get?

It is hovering around 3000-4000 at the moment. It's no big deal, get over it.

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February 03, 2016, 08:35:43 AM
 #188

Transaction rate is now 2.03/second and I think maximum troughput should be at least 3 (7 is theoretical limit, but maybe 3 in practice??).

My question is, why are there that many unconfirmed actions at this rate? Is it solely because some mine blocks with 0 transactions?
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February 03, 2016, 08:37:39 AM
 #189

Transaction rate is now 2.03/second and I think maximum troughput should be at least 3 (7 is theoretical limit, but maybe 3 in practice??).

My question is, why are there that many unconfirmed actions at this rate? Is it solely because some mine blocks with 0 transactions?

because there are not appropriate fee, and the average is 3 because, you need to factor multisig which use more space, so 7 per second is out of question

THE FUTURE OF
REAL ESTATE
..

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RealBitcoin
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February 03, 2016, 08:38:37 AM
 #190

Transaction rate is now 2.03/second and I think maximum troughput should be at least 3 (7 is theoretical limit, but maybe 3 in practice??).

My question is, why are there that many unconfirmed actions at this rate? Is it solely because some mine blocks with 0 transactions?

because there are not appropriate fee, and the average is 3 because, you need to factor multisig which use more space, so 7 per second is out of question

Not many people use multisig transactions, I have never used them.

Amph
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February 03, 2016, 08:58:10 AM
 #191

Transaction rate is now 2.03/second and I think maximum troughput should be at least 3 (7 is theoretical limit, but maybe 3 in practice??).

My question is, why are there that many unconfirmed actions at this rate? Is it solely because some mine blocks with 0 transactions?

because there are not appropriate fee, and the average is 3 because, you need to factor multisig which use more space, so 7 per second is out of question

Not many people use multisig transactions, I have never used them.

service use plenty of multisig, kraken or purse.io or any other exchange use it, so yes they are vastly used

THE FUTURE OF
REAL ESTATE
..

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Matias
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February 03, 2016, 09:02:36 AM
 #192

Transaction rate is now 2.03/second and I think maximum troughput should be at least 3 (7 is theoretical limit, but maybe 3 in practice??).

My question is, why are there that many unconfirmed actions at this rate? Is it solely because some mine blocks with 0 transactions?

because there are not appropriate fee..

I guess block reward halving is a good thing, because that makes current fees more interesting to miners.
mickiya
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February 03, 2016, 09:39:18 AM
 #193

tell that to antpool and other idiot pool operators:

block: 396256
transactions: 1
relayed by AntPool
size of the block: 0.2kb!!!
The actual number of blocks that are full would be reduced and so would the size of the mempool if they weren't doing this. The Bitcoin network can handle more at 1 MB blocks, but it is the miners fault.

A=> we don't need bigger blocks atm
B=> why should i wipe my ass 10 times, if 5 times is enough Roll Eyes & go back to A!

Do you mean we should change the block time to 5 mins? That will create a lot of orphan blocks.
Denker
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February 03, 2016, 10:09:46 AM
 #194

Transaction rate is now 2.03/second and I think maximum troughput should be at least 3 (7 is theoretical limit, but maybe 3 in practice??).

My question is, why are there that many unconfirmed actions at this rate? Is it solely because some mine blocks with 0 transactions?

because there are not appropriate fee..

I guess block reward halving is a good thing, because that makes current fees more interesting to miners.

Sure. The block reward will be less over the next years and decades.
Therefore fees have to increase and number of transactions to rise to build enough incentive for the miners to continue securing the network.

mickiya
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February 03, 2016, 10:52:24 AM
 #195

Transaction rate is now 2.03/second and I think maximum troughput should be at least 3 (7 is theoretical limit, but maybe 3 in practice??).

My question is, why are there that many unconfirmed actions at this rate? Is it solely because some mine blocks with 0 transactions?

because there are not appropriate fee..

I guess block reward halving is a good thing, because that makes current fees more interesting to miners.

I think the miners are more interested in the total fees they earn. So the transaction fee will have to rise in the future.
aarons6
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February 03, 2016, 06:09:43 PM
 #196

Transaction rate is now 2.03/second and I think maximum troughput should be at least 3 (7 is theoretical limit, but maybe 3 in practice??).

My question is, why are there that many unconfirmed actions at this rate? Is it solely because some mine blocks with 0 transactions?

because there are not appropriate fee..

I guess block reward halving is a good thing, because that makes current fees more interesting to miners.

I think the miners are more interested in the total fees they earn. So the transaction fee will have to rise in the future.


also the 2 biggest pools, antpool and f2pool dont pay the fees to the miners..

mickiya
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February 04, 2016, 07:54:10 AM
 #197

Transaction rate is now 2.03/second and I think maximum troughput should be at least 3 (7 is theoretical limit, but maybe 3 in practice??).

My question is, why are there that many unconfirmed actions at this rate? Is it solely because some mine blocks with 0 transactions?

because there are not appropriate fee..

I guess block reward halving is a good thing, because that makes current fees more interesting to miners.

I think the miners are more interested in the total fees they earn. So the transaction fee will have to rise in the future.


also the 2 biggest pools, antpool and f2pool dont pay the fees to the miners..



That is a big earning loss for the miners. When the block reward is lower in the future, nobody else will mine there.
sgbett
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February 04, 2016, 10:58:32 AM
 #198

What do you think, will Antpool stop mining blocks with 0 transactions after block reward halving?

Here is again block with zero transactions

https://blockchain.info/block/0000000000000000082c86f9a810bc6d0ec540e76360b59587a460b9706c01df

There are worth of 0.71 TX fees waiting for collecting, so it is crazy to leave money on the table.

https://blockchain.info/unconfirmed-transactions

0.71 is 2.8% of 25 which is what they get for mining block reward.

There is a delay between knowing a block has been mined (that you can build on) and knowing which transactions were in that block.

If you are able to find a block in that time, then you would have to be > 97.2% sure that you could hang around whilst you dump the transactions still in your mempool that were mined in the previous block, and fill up your just found block with the most profitable ones, before somebody else found a block.

You have 100% chance of getting 25BTC - your EV is 25BTC
You want a > 97.2% chance of not being beaten to get your EV over 25

Over thousands of blocks that could add up to a reasonable amount, but you would then have to weigh that against the cost of implementing something that figures out whether its worthwhile by calculating orphan rates, and the risks associated with that (variance/reliability).

Or you could just throw out an empty block and take the 25BTC off the table. Knowing that the other 0.71 BTC are still on the table, and so you still have a chance to at getting them anyway by mining the next block (which you have a minor advantage to get as you solved the last block)

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"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto
Matias
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February 04, 2016, 03:00:11 PM
 #199

"0.71 is 2.8% of 25 which is what they get for mining block reward."

True. But my point was, that after block halving that is 5.6% so that may change the situation.

BTW, how long it takes to load and distribute to the miners the transactions?
sgbett
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February 04, 2016, 07:58:33 PM
 #200

"0.71 is 2.8% of 25 which is what they get for mining block reward."

True. But my point was, that after block halving that is 5.6% so that may change the situation.

BTW, how long it takes to load and distribute to the miners the transactions?

Depends on block size, latency, bandwidth. Each miner can probably figure out their own statistics for their particular operation.

Block halving may have an effect yes.

Interestingly though, increasing block size probably doesn't. (More fees yes, but higher chance of orphaning...) that would probably not always hold true though.

Fast forward several halvings. Unless something is really rotten in the state of bitcoin, the number of transactions will be significantly higher.

Suddenly the 'mine an empty block through fear of orphaning' problem starts to go away. Fees outweigh coinbase. So although your chance of orphaning is higher its the same for everyone because everyone wants the fees and the block reward is secondary.

http://haschinabannedbitcoin.com
"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto
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