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Author Topic: 134k unconfirmed transactions now. I'm starting to get really worried about this  (Read 5667 times)
chuckblocker
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November 13, 2017, 04:55:48 PM
 #161

Why has this not been resolved yet?

On sunday there were talks of the bch difficulty going up which would turn the miners back to btc but i'm still seeing over 100k unconfirmed and high fee's all around. 4 days with this issue so far.

Is it ever going to improve?
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November 13, 2017, 04:59:21 PM
 #162

The high fees are doing my nut in as well, thing is i don't think all those were spam... The thing is, the network simply cannot handle the volume of transactions in its current state. Simply increasing the blocksize is a bandaid if bitcoin is to become large, where blocks would end up being several gigabytes if it was anywhere like the volume of visa/mastercard.

NEM and the lightning network do offer solutions to this problem, to a degree.
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November 13, 2017, 05:04:55 PM
 #163

The high fees are doing my nut in as well, thing is i don't think all those were spam... The thing is, the network simply cannot handle the volume of transactions in its current state. Simply increasing the blocksize is a bandaid if bitcoin is to become large, where blocks would end up being several gigabytes if it was anywhere like the volume of visa/mastercard.

NEM and the lightning network do offer solutions to this problem, to a degree.

Lightning network is patented bankster invention, and will be the end of decentralization.

"The simplest option would have been to raise the block size cap from 1 MB that Satoshi Nakamoto originally added as a temporary measure to prevent spam transactions. However the company BlockStream, backed by insurance giant AXA[ref] which now has the majority of developers controlling the Core repository did not want that. They wanted to stifle on-chain capacity so they could force users and transactions into using their patented side chain called Lightning Network[ref]. Not to mention that the Lightning Network will abandon the original Bitcoin vision for a fully decentralised payment system[ref] and move to a system which is more like regular banks which can be controlled, regulated and censored[ref]. This is a disgusting hostile corporate takeover attempt of Bitcoin and the goal is to kill it off as a decentralised currency."

https://theflippening.github.io/open-letter-to-bitcoin-miners-from-another-miner/
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November 13, 2017, 05:07:04 PM
 #164

Anyone have the latest count on unconfirmed transactions?

chuckblocker
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November 13, 2017, 05:08:24 PM
 #165

~110k or so and slowly creeping the wrong way, upwards Sad

Those downspikes on the chart are total BS, there was never a drop below 100k.

https://blockchain.info/charts/mempool-count?timespan=24h
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November 13, 2017, 05:10:44 PM
 #166

Yeah, we should be very concerned about that, So I wouldn't call it just a pump because there is major disagreement to which is the real bitcoin. The miners will decide its simple. no matter what is happening there is great manipulation and its done right and perfectly.

Miners aren't qualified to decide. All they should do is mine. They don't have the vision or the intelligence to make decisions for everyone else.


Lightning network is patented bankster invention, and will be the end of decentralization.

Do you get a commission every time you post your wonderful link?

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November 13, 2017, 05:21:08 PM
 #167


Lightning network is patented bankster invention, and will be the end of decentralization.

Do you get a commission every time you post your wonderful link?

Do you have something to say on the topic, or are you all in on ad hominem?
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November 13, 2017, 05:25:05 PM
 #168

Yeah, we should be very concerned about that, So I wouldn't call it just a pump because there is major disagreement to which is the real bitcoin. The miners will decide its simple. no matter what is happening there is great manipulation and its done right and perfectly.

Miners aren't qualified to decide. All they should do is mine. They don't have the vision or the intelligence to make decisions for everyone else.


In my opinion, Bitcoin is so flawed since BCH was created. It allows the miners to flip flop between coins at any time, so it's the miners that set the pump and dumps.



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burnedbyfees
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November 13, 2017, 05:26:41 PM
 #169

Why has this not been resolved yet?

On sunday there were talks of the bch difficulty going up which would turn the miners back to btc but i'm still seeing over 100k unconfirmed and high fee's all around. 4 days with this issue so far.

Is it ever going to improve?

Because Bitcoin is still under attack this isn't over, the upside is that every time they try and fail they get weaker.

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November 13, 2017, 05:27:39 PM
 #170

The clogged up mempool is NOT the only PROBLEM!

I just paid close to $40 fee to send some BTC.

WTF?!?!

How the hell can Bitcoin be used as a currency or for buying anything?

If I was to pay someone in another country, I'd rather mail a check in an envelope.

Dart18
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November 13, 2017, 05:31:07 PM
 #171

The clogged up mempool is NOT the only PROBLEM!

I just paid close to $40 fee to send some BTC.

WTF?!?!

How the hell can Bitcoin be used as a currency or commerce?

That is why you are paying much because of the damn traffic.
As long as you will pay more you will be the priority.
Pfft and you just knew tht now?.
I am not worried until now. This things already happened before.
 Are all who comments hdre are newvbies?

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November 13, 2017, 05:35:12 PM
 #172

Yeah, we should be very concerned about that, So I wouldn't call it just a pump because there is major disagreement to which is the real bitcoin. The miners will decide its simple. no matter what is happening there is great manipulation and its done right and perfectly.

Miners aren't qualified to decide. All they should do is mine. They don't have the vision or the intelligence to make decisions for everyone else.

I wouldn't say that miners lack the vision or intelligence to make decisions. I would just say that it's not just up to them, so they can't really decide anything alone. Yes right now they are swapping to BCH because it's more profitable to mine it, but if we prefer bitcoin, and don't sell our coins, BTC will still be more valuable, and as the difficulty adjusts, it will again be more profitable to mine BTC instead of BCH, and miners will switch back to BTC.

It's a business for them, and they are in it for the profit, I totally get it, but in the end they can't really decide anything. The market is ruled by supply and demand, so if the demand is still bitcoin, they will switch back to the most profitable coin to mine.

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November 13, 2017, 05:42:03 PM
 #173

The clogged up mempool is NOT the only PROBLEM!

I just paid close to $40 fee to send some BTC.

WTF?!?!

How the hell can Bitcoin be used as a currency or commerce?

That is why you are paying much because of the damn traffic.
As long as you will pay more you will be the priority.
Pfft and you just knew tht now?.
I am not worried until now. This things already happened before.
 Are all who comments hdre are newvbies?

Are you saying that Bitcoin is going to become less popular because traffic is going to down?  What happens when Bitcoin becomes more popular?  Will I pay $80 fees to get my BTC sent in a fast time?

Here's the latest block mined:  https://blockchain.info/block/0000000000000000000df6d1c8c0ddd830af3e56d53d03dee729196f57ae7397

Transactions Fees:  2,691.49305778 BTC

Number of Transactions:  2159

Average fee per transaction:  0.001755369 BTC

If BTC = $6,500, then average fee is $11.41.

A paper check in an envelope is cheaper.

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November 13, 2017, 06:01:51 PM
 #174

The tps rate has recovered slightly, miners are slowly moving back to btc as bch mining pools get more flooded and less profitable.
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November 13, 2017, 06:02:26 PM
 #175

In general there is a play going on to make the bitcoin disreputable and BCC strong versus bitcoin. On the other hand this makes me uncomfortable I am so there is so many of you around like me.

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November 13, 2017, 06:05:18 PM
 #176

Anyone have the latest count on unconfirmed transactions?

It's about a 100,000 and it's come down a lot. See the following graph:

https://jochen-hoenicke.de/queue/#24h

Note that at 7 p.m. GMT BCH does it's consensus hardfork to adjust it's difficulty adjustment. Their difficulty should drop which should see some miners switch back to them.

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November 13, 2017, 06:06:11 PM
 #177

LOL. Maybe this is the main reason of Bitcoin price dump a lot. This case is the result of high mining difficulty of Bitcoin, because of the difficulty is too high, a lot of miners have changed to mine another cryptocurrency with lower difficulty, it made the number of block founded decreased and the number of stuck transaction increased. But for now I think people are finding the way to solve this problem that why the price of Bitcoin is rising back again.
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November 13, 2017, 06:11:17 PM
 #178

This is a very worrying state of affairs as it proves to some degree that this 'decentralized' currency is not fully decentralized if a few people can manipulate the system like this so easily. Makes me concerned for the future of BTC.

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November 13, 2017, 06:12:19 PM
 #179

Along with Bitcoin spam transactions they're also trying to make emergency adjustments to BCH mining difficulty while they pump BCH price. They also have "BCH much wow" sockpuppets roaming the web talking up to coincide with pump movements.

It's not something that's sustainable, they can only do it in burst and each burst gets more pathetic as the cryptocommunity wises up and tells them to fuck off.

Transactions will clear when they've burnt through too much money and give up, there's also only so long collaborators like Shapeshift can justify putting a hold on Bitcoin transactions.

Take note of what all of these people are doing now, remember who betrayed and tried to manipulate you when the dust settles.

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November 13, 2017, 06:16:28 PM
 #180

People panicking isn't going to help the issue when they try taking their bitcoin out and putting it into something else. If I was mining bitcoin I probably would switch to bitcoin cash if it was more profitable.

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