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burnedbyfees
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November 13, 2017, 05:26:41 PM |
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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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Coldsnap4457
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November 13, 2017, 05:27:39 PM |
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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.
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Dart18
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November 13, 2017, 05:31:07 PM |
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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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FrueGreads
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November 13, 2017, 05:35:12 PM |
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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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Coldsnap4457
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November 13, 2017, 05:42:03 PM |
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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/0000000000000000000df6d1c8c0ddd830af3e56d53d03dee729196f57ae7397Transactions 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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cryptodickhole
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November 13, 2017, 06:01:51 PM |
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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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barabut
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November 13, 2017, 06:02:26 PM |
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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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alyssa85
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November 13, 2017, 06:05:18 PM |
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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/#24hNote 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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Frank0209
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November 13, 2017, 06:06:11 PM |
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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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cl37007
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November 13, 2017, 06:11:17 PM |
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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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burnedbyfees
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November 13, 2017, 06:12:19 PM |
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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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btcprospecter
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November 13, 2017, 06:16:28 PM |
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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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TMS123
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November 13, 2017, 06:17:09 PM |
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In all essence... this might be the game within the game? If the miners see every user is paying $10.00+ per every transaction.... someone is getting rich off of this. So why change it? This entire thing for a week smells like a test and setup.
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gentlemand
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November 13, 2017, 06:17:51 PM |
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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.
Well, plenty of them do feel that they can decide for everyone else and that's what they've been trying to repeatedly. I do not believe that one small subsection should have the power that they do. |
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teamjk
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November 13, 2017, 06:22:51 PM |
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146k and trend is going up again
At the same time also it doesn't seem that miners have switched from btc to bch (at least for the last hours) as it was the case yesterday
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Netnox
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November 13, 2017, 06:23:29 PM |
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It went to almost 200K and is now down to around 115,000. Even at this level, the fees is unsustainable. And do you know the worst thing about this whole episode? We can't blame the miners for this. It is not their fault. See this: https://blockchain.info/blocksAll of them are making use of the 1 MB block size limit. |
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Jkattt
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November 13, 2017, 06:24:45 PM |
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Bitcoin is frequently attacked with spam transactions in order to create a bottle neck in the block chain and push people into panic mode.
No need to panic. Bitcoin is A Ok.
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slate_main
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BYTZ
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November 13, 2017, 06:26:13 PM |
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Hilarious OP, has no one stumbled across that page before, you know, the mempool one - it's fine, once this gets to a certain level, the BTC masternode comes in and hoovers up all the transactions, and fees  |
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Haunebu
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November 13, 2017, 06:31:42 PM |
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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.
You got it all wrong. Every market can be manipulated to a certain degree(Stocks, Crypto etc). Everyone knows this. This does not mean that they can execute their plans successfully all the time. This also does not suggest that bitcoin is a centralized currency controlled by a particular group of people. Bitcoin is a complete decentralized currency which allows anonymous transactions to a degree which is far better than FIAT currencies. Don't let the bitcoin cash situation waver your faith in bitcoin. |
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barabut
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November 13, 2017, 06:41:02 PM |
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The fact that the number of unauthorized transactions is so great really puts Bitcoin's trademark value, its functionality at a point of dispute, and as we look at the value, Bitcoine hurts.
This process seems to be worked on the most BCC side. It may be useful not to use BTC for a while when exchanging money between exchanges. This situation increased both feelings and seriously affected the sending times. With the latest hard work, ETH allows even the smallest Gwei to do serious speeding.
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