33000 unconfirmed transactions, OMG!, what happened??

[South Park]

Someone is spamming the network this took me by surprise and I sent a transaction with a fee I though it was OK and it took 14 hours just to get that one confirmation, so if you can avoid doing any transactions and if you cant, send a very generous fee.

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[nara1892]

Some entity is spamming the network with thousands of transactions.

Don't worry, the 1MB anti-spam feature is doing it's job protecting every Bitcoin user now and forever by preventing this entity's spam from bloating the block chain. They know this, will give up soon, and everything will return to normal.

If you need a fast confirmation in the meantime, simply pay a higher fee than the spam.

good news (about anti-spam feature). at least the problem is processed even it will not be so fast. so it is not a good time to send bitcoin. well I think the spammer has a purpose to do that. I do not know what the purpose is, just be careful anyone. lucky me, I did not send bitcoin last month.

[ArticMine]

...

good news (about anti-spam feature). at least the problem is processed even it will not be so fast. so it is not a good time to send bitcoin. well I think the spammer has a purpose to do that. I do not know what the purpose is, just be careful anyone. lucky me, I did not send bitcoin last month.

Deterring people from using the Bitcoin network could easily be the purpose of the spam. 

[warpio]

I don't think it matters much even if the spammers have infinite money and just keep on doing this without stopping. If that is the case, then we'll just have to raise the default transaction price and increase the mining reward so that enough miners get on it to bring the confirmation time back down.

any spike in transaction spamming should in theory be met with an equal spike in increased hashpower going for the higher mining rewards, and it should all even out in the end.

[ArticMine]

I don't think it matters much even if the spammers have infinite money and just keep on doing this without stopping. If that is the case, then we'll just have to raise the default transaction price and increase the mining reward so that enough miners get on it to bring the confirmation time back down.

any spike in transaction spamming should in theory be met with an equal spike in increased hashpower going for the higher mining rewards, and it should all even out in the end.

This assumes the spam is actually mined. If it is not mined there is no cost to the spammer.

[pooya87]

this is starting to become a common thing, to see a huge number of unconfirmed transactions in the mempool. a while back this could only happen once or twice a month but now it happens every couple of days.

and interesting enough this new trend started happening the same time segwit signalling started to take place! coincidence?

[davis196]

33000 unconfirmed transactions! OMG!!
did i miss something? . did something happen lately i don't know about?, i have never seen 33000 unconfirmed transactions, ever.

There are 2 explanations for me.

First,there is a huge decrease of the number of miners.

Second,someone is spamming the network with thousands of small transactions.

[-ck]

First,there is a huge decrease of the number of miners.

This is incorrect on multiple levels. Mining has almost nothing to do with it. Transactions are mined at an almost constant rate regardless of how many miners there are (provided miners choose to mine as many transactions as possible and generally they do), and secondly the overall mining hashrate has only kept increasing in the last year.

[bitcoinisbest]

Some days ago I have seen this confirmed transaction has rose to 50000. Certainly it seems some of them purposely try to create many transaction so that it could jam the network and unconfirmed keep on rising. But for now at present I can see that only 5000 approx unconfirmed transactions. Hope in couple of hour it will reduce and be back to normal.

[Meuh6879]

Yep, but it's the "new normal".






Vote SegWit ... ?

[jeraldskie11]

Really? Whats happening of Bitcoin is there an issue with us if we also transact?

[Kprawn]

We have seen this before, when people did these "Stress tests" during the Bitcoin Core vs Bitcoin XT battle. Someone wants to force people's

hands by spamming the network. The network/miners are just hashing away at it, and milking these idiots money. Just imagine what would

have happened, if we had bigger block sizes.