Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Alley]

What is the average number during a normal day of unconfirmed transactions?  And what number indicates a problem?  Or do we just need to see how long it takes to confirm 4000 transactions?  Theoreticaly at 7per second it should still take less then 10 min?

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[shmadz]

Lol 4100 unconfirmed transactions.

2142.1044921875 (KB) Block size.

Mostly just because miners haven't found a block in the last 30 minutes, which is just coincidentally the same time the "test" began.

[Riddikulo]

Lol 4100 unconfirmed transactions.

2142.1044921875 (KB) Block size.

Mostly just because miners haven't found a block in the last 30 minutes, which is just coincidentally the same time the "test" began.

5500 unconfirmed transactions and 2650 KB block size, this will fuck a lot of miners.

[shmadz]

Lol 4100 unconfirmed transactions.

2142.1044921875 (KB) Block size.

Mostly just because miners haven't found a block in the last 30 minutes, which is just coincidentally the same time the "test" began.

4900 unconfirmed transactions and 2500 KB block size, this will fuck a lot of miners.

How does this affect miners at all? Miners can output empty block if they want, regardless of how many unconfirmed transactions. When it comes to creating blocks, the miners run the show.

Edit: one thing I do find funny though, Satoshi implemented the 1MB block limit as a denial of service prevention measure, and now a handful of people on reddit are performing a denial of service attack on the network to protest the limit that was supposed to prevent the attack... 

[Cconvert2G36]

For context, I've seen a backlog of 6900 transactions on an exciting trading day.

Edit: It seems that bigger blocks would make a tx spam DOS attack more expensive for the attacker, not the other way around.

[hdbuck]

Lol 4100 unconfirmed transactions.

2142.1044921875 (KB) Block size.

Mostly just because miners haven't found a block in the last 30 minutes, which is just coincidentally the same time the "test" began.

4900 unconfirmed transactions and 2500 KB block size, this will fuck a lot of miners.

How does this affect miners at all? Miners can output empty block if they want, regardless of how many unconfirmed transactions. When it comes to creating blocks, the miners run the show.

Edit: one thing I do find funny though, Satoshi implemented the 1MB block limit as a denial of service prevention measure, and now a handful of people on reddit are performing a denial of service attack on the network to protest the limit that was supposed to prevent the attack... 

they wont even manage. redditards.

[Riddikulo]

Lol 26000 unconfirmed transactions. And blockchain.info is lagged like shit.

I think what's happening is other nodes are hanging onto 26,000+ old transactions while blockchain.info drops them after a certain amount of time, with only 5000 transactions, hence the discrepancy.

[shmadz]

Lol 26000 unconfirmed transactions. And blockchain.info is lagged like shit.

I think what's happening is other nodes are hanging onto 26,000+ old transactions while blockchain.info drops them after a certain amount of time, with only 5000 transactions, hence the discrepancy.

Where do you get the 26000 number?

I suspect many of the transactions will be considered spam or below the dust limit or whatever.

I'll be watching this guy's attempt to see if these transactions ever get accepted.
https://blockchain.info/address/12qLgVrkW561PbpfvokKwfj7CPjCVwwCTS

[Cconvert2G36]

Lol 26000 unconfirmed transactions. And blockchain.info is lagged like shit.

I think what's happening is other nodes are hanging onto 26,000+ old transactions while blockchain.info drops them after a certain amount of time, with only 5000 transactions, hence the discrepancy.

Where do you get the 26000 number?

I suspect many of the transactions will be considered spam or below the dust limit or whatever.

I'll be watching this guy's attempt to see if these transactions ever get accepted.
https://blockchain.info/address/12qLgVrkW561PbpfvokKwfj7CPjCVwwCTS

https://tradeblock.com/blockchain/

[Riddikulo]

Blocks get time bugged... Block #358597 was "find" after #358598 LOL!

[alesx.onfire]

Holy crap, just read about a guy who bought $27 worth of Bitcoins in 2009, forgot he had them and now they are worth $886,000

[spud21]

Lol 26000 unconfirmed transactions. And blockchain.info is lagged like shit.

I think what's happening is other nodes are hanging onto 26,000+ old transactions while blockchain.info drops them after a certain amount of time, with only 5000 transactions, hence the discrepancy.

Where do you get the 26000 number?

I suspect many of the transactions will be considered spam or below the dust limit or whatever.

I'll be watching this guy's attempt to see if these transactions ever get accepted.
https://blockchain.info/address/12qLgVrkW561PbpfvokKwfj7CPjCVwwCTS

Are they paying the fees for those transactions, and how much is the combined total of fees paid? I assume the miners will ignore any transactions with no fees.

edit]

Block 358596 had fees of 0.4 Bitcoins. Spamming the Bitcoin network is not cheap.

[gentlemand]

Holy crap, just read about a guy who bought $27 worth of Bitcoins in 2009, forgot he had them and now they are worth $886,000

That's the real way to get rich. Buy and truly forget. In a few years it's a nice surprise to remember.

[BayAreaCoins]

Holy crap, just read about a guy who bought $27 worth of Bitcoins in 2009, forgot he had them and now they are worth $886,000

That's the real way to get rich. Buy and truly forget. In a few years it's a nice surprise to remember.

Fuck that!

Leverage ftw

[gentlemand]

Holy crap, just read about a guy who bought $27 worth of Bitcoins in 2009, forgot he had them and now they are worth $886,000

That's the real way to get rich. Buy and truly forget. In a few years it's a nice surprise to remember.

Fuck that!

Leverage ftw

It's far more peaceful though. Blissful ignorance is a boon. I'd rather that than spend 20 hours a day twitching in my underpants staring at charts. There is more to life. 

[Riddikulo]

2000 unconfirmed transactions just vanished without blocks.

[seleme]

If it is same guy, Norwegian one or something like that, his coins are surely not being worth 900k now, they were worth that around the top, it's an old story.

[ssmc2]

2000 unconfirmed transactions just vanished without blocks.

Lol uh that's not how it works

[BayAreaCoins]

Holy crap, just read about a guy who bought $27 worth of Bitcoins in 2009, forgot he had them and now they are worth $886,000

That's the real way to get rich. Buy and truly forget. In a few years it's a nice surprise to remember.

Fuck that!

Leverage ftw

It's far more peaceful though. Blissful ignorance is a boon. I'd rather that than spend 20 hours a day twitching in my underpants staring at charts. There is more to life. 

This is true sir... this is true.

[ChartBuddy]

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