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Author Topic: Mempool is flooded and I see no complaints  (Read 881 times)
Wind_FURY
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May 12, 2017, 01:44:08 AM
 #1

The unconfirmed transactions now is the highest I have ever seen but shockingly I do not see any complaints? Have you all gotten used to it and now accept that it will always be there? So we have to live with it?

I believe there is only one thing that is making most of us hold Bitcoin. The rising price. If Bitcoin crashed to a $500 low and was always spammed so that each transaction will wait more then 24h to be confirmed, I believe it is natural for us to run to the next best store of value. Litecoin.


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May 12, 2017, 01:51:43 AM
 #2

The unconfirmed transactions now is the highest I have ever seen but shockingly I do not see any complaints? Have you all gotten used to it and now accept that it will always be there? So we have to live with it?

I believe there is only one thing that is making most of us hold Bitcoin. The rising price. If Bitcoin crashed to a $500 low and was always spammed so that each transaction will wait more then 24h to be confirmed, I believe it is natural for us to run to the next best store of value. Litecoin.

No complaints? Do you live under a stone?
There are complaints all over this forum. The block size is relevant more than ever now.
https://bitcointalk.org/index.php?topic=1913188.0

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May 12, 2017, 01:54:31 AM
 #3

The unconfirmed transactions now is the highest I have ever seen but shockingly I do not see any complaints? Have you all gotten used to it and now accept that it will always be there? So we have to live with it?

I believe there is only one thing that is making most of us hold Bitcoin. The rising price. If Bitcoin crashed to a $500 low and was always spammed so that each transaction will wait more then 24h to be confirmed, I believe it is natural for us to run to the next best store of value. Litecoin.

If you hold Bitcoin, the fees are irrelevant. Yes Bitcoin is annoying to use. But who cares as long as the price goes up.

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May 12, 2017, 02:22:02 AM
 #4

I'm complaining.  loudly. 

this is a pain in the butt for me, my company, and more importantly, new users who are trying bitcoin only to find its promise of fast cheap transactions may be not so cheap and certainly not fast.

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May 12, 2017, 02:28:47 AM
 #5

I'm complaining.  loudly.  

this is a pain in the butt for me, my company, and more importantly, new users who are trying bitcoin only to find its promise of fast cheap transactions may be not so cheap and certainly not fast.


Yeah, I'm complaining too about the same, but probably also for different reasons.  The Stupid Civil War (SW v. BU) probably is scaring off potential newbies who are confused about what might happen...  "Hard Fork" sounds very scary.

NO ONE (that I have read, anyway, even here at bitcointalk) has come along to encourage the Miner Wankers and the Developer Wankers to sit down and SOLVE this.  Perfect examples of N. N. Taleb's "Intellectuals yet idiots".

Do I sound pissed off...?
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May 12, 2017, 02:38:08 AM
 #6

I think many people are already voicing out their disappointment about their unconfirmed transactions and being stuck even if they paid above average fees like mine. And while this is happening, there are also some who are just used to it and shrugged it off. There's still no solution for it after all that happened in the past months and years. I can say that many of us here just stayed with BTC because of its surge in price and not because of its core functions before like "fast transactions with small fees".

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May 12, 2017, 02:39:12 AM
 #7

What's the need for complaints. People have much adopted to it. As stated by Op due to the increasing price users continue to stay with it. In reality as the price increases the transaction fee too increases. If you go through majority of transaction, the fee levied will be low. So in my view most of the transaction done with the suggested fee from the service providers get confirmed in a short.

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May 12, 2017, 02:48:44 AM
 #8

this forum is filled with complaints! where have you been looking Smiley
this board is filled with topics talking about mempool being full, same topics about block size, topics about spam attack,....
in the tech support board there is always 20 topics about people saying their transactions stuck.
in alternative wallets board and web wallets board there are topics saying "sent bitcoin from .... and it is stuck"

and no it is only partly because of price that we are tolerating this. and if price crashed to $1600 we would just buy more bitcoin Wink


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May 12, 2017, 02:49:55 AM
 #9

I'm complaining.  loudly.  

this is a pain in the butt for me, my company, and more importantly, new users who are trying bitcoin only to find its promise of fast cheap transactions may be not so cheap and certainly not fast.


Yeah, I'm complaining too about the same, but probably also for different reasons.  The Stupid Civil War (SW v. BU) probably is scaring off potential newbies who are confused about what might happen...  "Hard Fork" sounds very scary.

NO ONE (that I have read, anyway, even here at bitcointalk) has come along to encourage the Miner Wankers and the Developer Wankers to sit down and SOLVE this.  Perfect examples of N. N. Taleb's "Intellectuals yet idiots".

Do I sound pissed off...?

people have... but devs have their fingers in ears and only want to do things the way THEY plan using THEIR road map that THEY designed without any community input.

here is one example of a solution
develop a NEW priority fee formulae that actually does a job


here is one example - not perfect. but think about it
imagine that we decided its acceptable that people should have a way to get priority if they have a lean tx and signal that they only want to spend funds once a day. (reasonable expectation)
where if they want to spend more often costs rise, if they want bloated tx, costs rise..

which then allows those that just pay their rent once a month or buys groceries every couple days to be ok using onchain bitcoin.. and where the costs of trying to spam the network (every block) becomes expensive where by they would be better off using LN. (for things like faucet raiding/day trading every 1-10 minutes)

so lets think about a priority fee thats not about rich vs poor(like the old one was) but about reducing respend spam and bloat.

lets imagine we actually use the tx age combined with CLTV to signal the network that a user is willing to add some maturity time if their tx age is under a day, to signal they want it confirmed but allowing themselves to be locked out of spending for an average of 24 hours.(thats what CLTV does)

and where the bloat of the tx vs the blocksize has some impact too... rather than the old formulae with was more about the value of the tx


as you can see its not about tx value. its about bloat and age.
this way
those not wanting to spend more than once a day and dont bloat the blocks get preferential treatment onchain ($0.01).
if you are willing to wait a day but your taking up 1% of the blockspace. you pay more ($0.44)
if you want to be a spammer spending every block. you pay the price($1.44)
and if you want to be a total ass-hat and be both bloated and respending EVERY BLOCK you pay the ultimate price($63.72)

note this is not perfect. but think about it

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Wind_FURY
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May 12, 2017, 02:54:06 AM
 #10

The unconfirmed transactions now is the highest I have ever seen but shockingly I do not see any complaints? Have you all gotten used to it and now accept that it will always be there? So we have to live with it?

I believe there is only one thing that is making most of us hold Bitcoin. The rising price. If Bitcoin crashed to a $500 low and was always spammed so that each transaction will wait more then 24h to be confirmed, I believe it is natural for us to run to the next best store of value. Litecoin.

No complaints? Do you live under a stone?
There are complaints all over this forum. The block size is relevant more than ever now.
https://bitcointalk.org/index.php?topic=1913188.0

Yes sorry. But I was expecting more and more threads of endless complaints about the state of the network. I am surprised that everything is still not as bad in the forum and the price is still going up. Maybe we see the chaos when there is 200k unconfirmed transactions and the price goes down?



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May 12, 2017, 03:01:40 AM
 #11

Yes sorry. But I was expecting more and more threads of endless complaints about the state of the network. I am surprised that everything is still not as bad in the forum and the price is still going up. Maybe we see the chaos when there is 200k unconfirmed transactions and the price goes down?

the main blockstreamist trolls dont complain.. they (wrongly) think huge fee's are good for 2 reasons.
1. they have been told by their masters that one day they can run a LN hub and get many cents from users by just being on a route between customer/merchant

2. they are economists rubbing hands together thinking it helps raise the price of bitcoin

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May 12, 2017, 04:11:26 AM
 #12

I believe there is only one thing that is making most of us hold Bitcoin. The rising price.

This.  It was designed that way.  I call that a "greater fool game" and as you say, if we run out of greater fools, we run to another game.
(but there's still a world of greater fools to take, so bitcoin is by far not "used up" as a game).
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May 12, 2017, 04:14:12 AM
 #13

NO ONE (that I have read, anyway, even here at bitcointalk) has come along to encourage the Miner Wankers and the Developer Wankers to sit down and SOLVE this.  Perfect examples of N. N. Taleb's "Intellectuals yet idiots".

If you consider that such is even possible, that the "board of governors" of Bitcoin Inc sits together in a high level meeting to decide on the next laws of bitcoin (its protocol) - like they did on litecoin - then bitcoin is a centralized entity, I hope you realize that.

Next time, they might sit together on how to give themselves 10% of new bitcoin stash, after all, why not ?
A single extra coinbase in bloc XXXXXX.  Like all other "boards of directors" assign themselves some favors.
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May 12, 2017, 04:34:08 AM
 #14

With 136K unconfirmed transactions, AntPool mines an empty block (#465952).
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May 12, 2017, 04:46:41 AM
 #15

With 136K unconfirmed transactions, AntPool mines an empty block (#465952).

Now  163131 Unconfirmed Transactions ,
see people performance matters, BTC the False Religion is failing.

Long Live LTC, 4X the Onchain transaction capacity of Bitcrap


 Cool
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May 12, 2017, 04:52:55 AM
 #16

I believe there is only one thing that is making most of us hold Bitcoin. The rising price. If Bitcoin crashed to a $500 low and was always spammed so that each transaction will wait more then 24h to be confirmed, I believe it is natural for us to run to the next best store of value. Litecoin.
Bitcoin is trusted my many not only due to increasing price, bitcoin is the first crypto currency so it have strongest community support compared to other alts also bitcoin has been tested for many years and there is no any flaw right now.

If you increase transaction fee a little bit, you don't have to wait for more than 10 minute and many have already understood this so they just check current mempool status and place fee accordingly.

Litecoin was dumped actually after segwit get activated on litecoin, so holding litecoin turn out to be risky.

.

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Renji Abarai
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May 12, 2017, 04:57:34 AM
 #17

The unconfirmed transactions now is the highest I have ever seen but shockingly I do not see any complaints? Have you all gotten used to it and now accept that it will always be there? So we have to live with it?

I believe there is only one thing that is making most of us hold Bitcoin. The rising price. If Bitcoin crashed to a $500 low and was always spammed so that each transaction will wait more then 24h to be confirmed, I believe it is natural for us to run to the next best store of value. Litecoin.

No complaints? Do you live under a stone?
There are complaints all over this forum. The block size is relevant more than ever now.
https://bitcointalk.org/index.php?topic=1913188.0

Yes, there are complains but I think it is already resolved now. Some are using the services of viabtc.com and I think it helps too. I think its quite ok now,  but still from time to time there is delay in processing.

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May 12, 2017, 05:28:25 AM
 #18

the situation is certainly bad, but you can still do it with not so high fee, the average is 60k satoshi now which is only $1 to send what you want, paypal still cost way more and ebay charge you 10% of fee on your selling, but they are still using it

With 136K unconfirmed transactions, AntPool mines an empty block (#465952).

Now  163131 Unconfirmed Transactions ,
see people performance matters, BTC the False Religion is failing.

Long Live LTC, 4X the Onchain transaction capacity of Bitcrap


 Cool

yeah 4x that is not even used, not even 1MB is used there, you see it's pointless to have 4x the capacity if you have no transaction volume that cna fill that, whcih is the entire reason why BU is wrong
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May 12, 2017, 06:52:50 AM
 #19

With 136K unconfirmed transactions, AntPool mines an empty block (#465952).

but shhhhh dont mention, BTCC pool mines an empty block (#465117).

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
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May 12, 2017, 07:06:00 AM
 #20

the situation is certainly bad, but you can still do it with not so high fee, the average is 60k satoshi now which is only $1 to send what you want, paypal still cost way more and ebay charge you 10% of fee on your selling, but they are still using it

With 136K unconfirmed transactions, AntPool mines an empty block (#465952).

Now  163131 Unconfirmed Transactions ,
see people performance matters, BTC the False Religion is failing.

Long Live LTC, 4X the Onchain transaction capacity of Bitcrap


 Cool

yeah 4x that is not even used, not even 1MB is used there, you see it's pointless to have 4x the capacity if you have no transaction volume that cna fill that, whcih is the entire reason why BU is wrong

Yo Dum Dum,

You want extra capacity for when you need it , the fact is LTC could handle all of BTC volume and 3X to spare.
If the BTC Core devs were not corrupt , then BTC could have that too , either by increasing block size or a faster block speed.

This is my last post , Lauda aka Theymos Banned me.

Why was I banned?

Because Lauda is Theymos!

Kiklo has Left the Building!

ZEIT
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