Mempool has doubled in the last 8 hours

[freightjoe]

You are not looking hard enough. Start using SegWit addresses and you will see a significant drop in the fees. We have reached consensus to use SegWit and now nobody wants to use it. The spammers are not focusing their sabotage on SegWit, because it is more expensive.

This will hopefully be a thing of the past, once the Lightning Network come into play. ^smile^

Lets let the numbers do the talking. Do the fees really drop? There has been instances where SEGWIT transactions have cost more

It is all a scam by the miners who know that now there are many small investors out there who have no choice but to accept their abuse of monopoly power

[1715371674]

1715371674

[hv_]

You are not looking hard enough. Start using SegWit addresses and you will see a significant drop in the fees. We have reached consensus to use SegWit and now nobody wants to use it. The spammers are not focusing their sabotage on SegWit, because it is more expensive.

This will hopefully be a thing of the past, once the Lightning Network come into play. ^smile^

Lets let the numbers do the talking. Do the fees really drop? There has been instances where SEGWIT transactions have cost more

It is all a scam by the miners who know that now there are many small investors out there who have no choice but to accept their abuse of monopoly power

No proof?  

In a payment network there are always spikes - related to different reasons. Price move, salary, black friday,..

Visa holds extra capacity for such events - bitcoin core ? No more !


Bottlenecks and high flow is called turbulence / chaos (known physics laws) and cannot be handled - sorry.

[Jet Cash]

...right...unicorns and pixies will ride in to the rescue....

Unicorns are treacherous creatures created by man to lead free horses into captivity. We seem to have quite a few of those trying to destroy or take control of Bitcoin.

[Agostosmori]

I think the majority of folks on here on hodlers. Mempool doesn't matter to many and there's a multi faceted plan to make transactions faster.
Mining power can be moved and replaced and with all of the creative developers, some sort of plan is likely in the works.

Transaction spike is somehow a good sign that more and more people are trading bitcoin and will result to a higher price. It may be a result of people converting from one crypto to bitcoin or even from fiat to bitcoin that caused the transaction volume to go high.

[Tadblt]

In just 8 hours this morning the mempool has doubled - seems we are agin heading towards the miners wanting to drastically increase prices.

Also we saw this pattern when there was the civil war with Bitcoin cash

There will be more attacks in the coming future, another fork another low amount transactions attacking the network.
Typical tyrant wanting to control the bitcoin, just relax and after the war all transactions will like go smoothly.
If there was an attack i always switch to Ether then get back as soon as the traffic fades.

[TheQuin]

Can you please enlighten me on the general plan to make transactions faster and cheaper? I've been looking out for it, but there isn't much.

Moving transactions off-chain with Lightning Network.
https://cointelegraph.com/explained/lightning-network-explained

In just 8 hours this morning the mempool has doubled - seems we are agin heading towards the miners wanting to drastically increase prices.

Also we saw this pattern when there was the civil war with Bitcoin cash

Just to put that doubling of the mempool in perspective compared to what happens when a large amount of mining hashpower switches to mining BCH take a look at the chart of the mempool below. Now that BCH has changed its difficulty algorithm we will not get periods of 4 days or more, like we did the weekend before last, when BTC is on reduced hashpower. What happened this morning was just good old-fashioned variance of luck that has always been part of mining. A bit of bad luck just means a few hours with less than 6 blocks/hr, when the average is around 6 the mempool clears out.

[HasHe]

... We have reached consensus to use SegWit and now nobody wants to use it.  ...

Do you know what consensus really is ?


I do not want SW as well

And here we see exactly why the Bitcoin experiment was always doomed to fail. Once a lot of money gets involved too many people have different agendas and a consensus/democratic approach will always fail. There is a reason why successful companies such as Amazon, Microsoft, Apple, Tesla etc are not democracies but firmly run by a single individual who forces his vision upon the company.

there is open competition now - one single coin can fail

It is not competition. It is an internal civil war with people trying to promote whichever agenda they stand to profit the most from

Nobody gets killed - its hard competition.

It is not competition, it is destructive fragmentation which is at the core of Bitcoin

The miners and bitcoin antichrist Roger ver have tried their best to modify bitcoin as they wish which would best suit their interests,but poor guys they are not able to succeed completely and that's the uniqueness of bitcoin.Disappointment and frustration would be the end result for them.

[iram1011]

Nothing new!

This has became frequent now. Just some weeks back because of Jihan Wu BCH pump. Miners are heavily playing with the Bitcoin for their own selfish goal. All what they want is profit. Recently we saw many such attempts where mempool increased drastically all because of miners manipulation or shifting of hashrate. But sooner or later everything goes back to normal.

[Lancusters]

I have no problems with completing transactions. Maybe it's trying again to undermine the situation but I don't see any consequences. It seems to me that all the efforts of the miners will be in vain. Even if the price of bitcoin will begin to decline they reach the desired result. We have seen many such attacks.

[HashFace]

I think the majority of folks on here on hodlers. Mempool doesn't matter to many and there's a multi faceted plan to make transactions faster.
Mining power can be moved and replaced and with all of the creative developers, some sort of plan is likely in the works.

I think we are in a "fox gardening the hen house" type situation here.  Miners have to vote for changes, and miners are making a fortune off the very high fees that come from the congested network.  Definetly a problem that Satoshi may not have envisioned.