Empty mempool - nobody uses Bitcoin? To be concerned about?

[Kogs]

After the spamming of the mempool stopped some weeks ago, the mempool is really empy.

The following points are my thoughts about this:

• I was checking if maybe the people switched from Bitcoin to Bitcoin Cash, but the situation for Bitcoin Cash looks even worse. With about a 10th of the transactions from Bitcoin this chain looks really unused
• People use Bitcoin mostly for store of value.
  Only buying and hodling bitcoins does not create lot of transactions on the network.
• People realize that Bitcoin at the moment is a bad choice for day to day transactions.
  As long as the Bitcoin exchange rate is raising, you get more out of bitcoin to just hold instead of buying things with it.
  Until we have a stable price in the long run and get any offchain solutions like lightning, I don't think this situation will change.

Actually I'm quite happy about the current situation.
As the price is constantly raising (if you ignore the Chinese FUD), people are interested in Bitcoin, so I'm not worried that Bitcoin may become obsolete.

What are your thoughts about this?

[davis196]

It`s strange how all the spammy transactions just stop when the bitcoin price i going down.
Somebody is constantly trying to push the bitcoin price down with spam and even with the previous hard forks.The FUD from China was good news for the people who stand behind all the spam and they stopped their stupid activity.The btc price will start increasing soon and the blockchain will be satured with spammy transactions leading to increased fees and long confirmation time.

[Herbert2020]

look at the number of transaction that has been processes and compared it with last year before the major spam attacks.

the thing to pay attention to is how the number of transactions have grown. long time ago there were a handful of tx, then it grew more and more and blocks became half full. then the growth continued over the years and blocks were nearly full. then from about a year ago they became almost full and at times even more transaction that blocks could contain.

this was when the severe spam attack started. blocks were full and mempool filled with crap. that never changed the trend that was going on, the usage still grew but it was impossible to see that trend anymore because it was hidden under "noise".  not that spam attack has stopped we are back at that trend and we are seeing where it really is = full blocks

• I was checking if maybe the people switched from Bitcoin to Bitcoin Cash, but the situation for Bitcoin Cash looks even worse. With about a 10th of the transactions from Bitcoin this chain looks really unused

this obviously is not it.
it is not just about looking at the number of transactions, it is about the fact that there is no usages for BCH!

• People use Bitcoin mostly for store of value.
  Only buying and hodling bitcoins does not create lot of transactions on the network.

this has always been the case, nothing has changed about it so it shouldn't change the number of transactions that are being processed. if anything it should increase since more people buy and transfer to their cold storage.

• People realize that Bitcoin at the moment is a bad choice for day to day transactions.
  As long as the Bitcoin exchange rate is raising, you get more out of bitcoin to just hold instead of buying things with it.
  Until we have a stable price in the long run and get any offchain solutions like lightning, I don't think this situation will change.

there is nothing "bad' about bitcoin for day to day transactions. and there has never been any. it is even an excellent choice in some cases for example the option to buy from Amazon with huge discounts using some services. off-chain solutions won't change anything about this or price. off-chain is off-chain and only for certain users who prefer that.

again nothing has changed!
you are suggesting that people suddenly had an epiphany and stopped using bitcoin all at once!

[Carlsen]

The mempool was even empty when we had the price decrease and with it a very high order volume last week.
That only leaves the conclusion to me that at the time where the pool was full, we had a massive spam attack.

And this somehow makes me wonder: if the days of the highest tradred volume do not fill the mempool, why again do we need the segwit2x fork?
Just to get rid of the spam attacks?

[leonair]

The mempool was even empty when we had the price decrease and with it a very high order volume last week.
That only leaves the conclusion to me that at the time where the pool was full, we had a massive spam attack.

And this somehow makes me wonder: if the days of the highest tradred volume do not fill the mempool, why again do we need the segwit2x fork?
Just to get rid of the spam attacks?

We need segwit2x for the future not only for the spammers of transactions but also the size will increase so it is a win win situation for Bitcoin. If it was easy to terminate spam attacks then Bitcoin developers will already do it. Just a wild guess, I think the main spammers of transaction is maybe the Chinese mempool users, lol.