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Author Topic: Mempool NEW ATH - 175,000 Unconfirmed Transactions  (Read 647 times)
smoothie
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May 11, 2017, 11:00:51 PM
 #1

Just wow..

New users coming into bitcoin??

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May 11, 2017, 11:09:10 PM
 #2

That's typical for Bitcoin's rallys. These charts about the mempool size don't go very far into the past, but you can see that in periods of a strong growth in the Bitcoin price the mempool size was larger.

In my opinion, it's a combination of spam attacks (with the goal to lower the price and generate panic in a context of high volatility) and real transaction volume growth, not only by new users but also by users that move Bitcoins to and from exchanges to profit from the price growth.

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MingLee
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May 11, 2017, 11:13:39 PM
 #3

Just wow..

New users coming into bitcoin??
I'm thinking that it's a lot more likely that there are users flocking to exchanges and there are more transactions going into exchanges to make money off of the rally that's happening right now, but I'll be hesitant to say that since the rally has been going on for so long that it would be surprising to see this much volume still being pushed through the blockchain.
Could be new users, but I would doubt it for now. Might be shoppers taking advantage of the high value, among other things.
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May 11, 2017, 11:46:37 PM
 #4

Probably the largest unconfirmed transaction so far that ive seen. Usually if I transfer an amount i would only pay 10k sat and get confirmed within the day but now it was been 6 days and still not yet confirmed. When i look at the unconfirmed transactions in block chain it is now not less then 25k per day



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May 12, 2017, 12:03:05 AM
 #5

blocks aren't full at all.    this is obviously just a spam attack, probably from Roger Ver who doesn't own any bitcoins, or Bitmain who is using antbleed to cheat everyone.    this is fine.  no need for bigger blocks.   

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May 12, 2017, 12:06:20 AM
 #6

Nope. It's the usual spamming.

https://blockchain.info/address/3QQB6AWxaga6wTs6Xwq8FYppgrGinGu15f

I don't think there's a new user sending thousands of transactions to themselves unless they're a bit soft in the head.

Maybe it's a new spammer.

Bigger blocks will either satisfy the person doing this, or maybe they're that deranged they'll spam until the end of time.

And I seem to recall a few weeks back when Unlimited had been massively pooh poohed by everyone else, the blockchain miraculously cleared up for a short time.

Funny that. 

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May 12, 2017, 12:07:32 AM
 #7

In my opinion, it's a combination of spam attacks (with the goal to lower the price and generate panic in a context of high volatility) and real transaction volume growth, not only by new users but also by users that move Bitcoins to and from exchanges to profit from the price growth.
The more good news about Bitcoin such as AU and Japan has pushed the new adoption for bitcoin in his environment.

Spam and mass adoption That can make the bitcoin network will run on high traffic.
It looks bitcoin network will have exploded as soon as possible.

We need the block increase to support mass adoption  Cry

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jonald_fyookball
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May 12, 2017, 12:26:28 AM
 #8

Nope. It's the usual spamming.

https://blockchain.info/address/3QQB6AWxaga6wTs6Xwq8FYppgrGinGu15f

I don't think there's a new user sending thousands of transactions to themselves unless they're a bit soft in the head.

Maybe it's a new spammer.

Bigger blocks will either satisfy the person doing this, or maybe they're that deranged they'll spam until the end of time.

And I seem to recall a few weeks back when Unlimited had been massively pooh poohed by everyone else, the blockchain miraculously cleared up for a short time.

Funny that. 

yeah but look at the avg blocksize chart for all time. 

gentlemand
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May 12, 2017, 12:28:53 AM
 #9

Of course we need more capacity but stuff like this is so childishly blatant it takes the piss. There's no way of stopping it and perhaps even if there was more capacity it would continue.

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May 12, 2017, 01:39:33 AM
 #10

I just know that I sent 0.3 BTC from one address to another and the transaction is still unconfirmed after almost 10 hours. WTF! And yes, I paid fees.

58638fb148a624e9f21d15b2c045e0eb2773a76a76cbe8de0274beb991165102
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May 12, 2017, 01:58:29 AM
 #11

I just know that I sent 0.3 BTC from one address to another and the transaction is still unconfirmed after almost 10 hours. WTF! And yes, I paid fees.

58638fb148a624e9f21d15b2c045e0eb2773a76a76cbe8de0274beb991165102

This is sad, this is an issue that should had been taken care of immediately rather than having a political debate and pushing each agenda.  Fees are getting higher each day and the once attraction of Bitcoin is now a disappointment.  I hope both camp will come into agreement and set aside their agendas to fix this scalability and high transaction fee issue.

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May 12, 2017, 02:14:12 AM
 #12

I just know that I sent 0.3 BTC from one address to another and the transaction is still unconfirmed after almost 10 hours. WTF! And yes, I paid fees.

58638fb148a624e9f21d15b2c045e0eb2773a76a76cbe8de0274beb991165102
Nothing to get worried. Once you make the transaction you can see it under the unconfirmed transaction list. This lagging of a large number of transactions in the bitcoin network happens when similar fee is levied for several transactions as well the increased transactions happening at the same time. These were solvable issues and few accelerator service helps with getting priority in the transaction. This is just for one or two transactions.

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