Cricktor
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Maybe this entity uses those 1000sat "dust inputs" on address 3Dc6zoToYwxxmBY9kcoLUrCMRjFx7ZpLky as some kind of status indication? I would assume that the consolidating transactions are prepared programmatically. I tried to have a look into what happens with those 1000sat "dust" UTXOs for above address, but my own Electrum server (Fulcrum on a Raspi 4B 8GB RAM) struggles to deliver the transaction history for a watch-only wallet. The coin traffic of involved addresses, looking past consolidation target address, is somewhat substantial.
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stompix
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March 30, 2024, 06:52:30 PM |
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66035317 There are 66 million of those spam things? To be honest I don't know how you can count them At first I was no way in hell are 60 million possible in such short time, there is no capacity, ut looking at the ones before this https://ordiscan.com/inscription/66035316https://ordiscan.com/inscription/66035315they exist, they are very small, and they got from 10 million to 66 million in a year, that's 154tx a day, with bitcoin averaging 500k , yup, possible.. But most are probably this kind of shit and not the ones I linked first, so 50bytes not 153kb. Oh, and worth mentioning: https://ordiscan.com/inscription/1yup, such art, much taste, impressive design, much veneer of refinement.
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LoyceV (OP)
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March 31, 2024, 06:36:15 AM Last edit: April 12, 2024, 01:03:47 PM by LoyceV |
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To be honest I don't know how you can count them I just saw the number, and the few lower numbers I checked all existed. that's 154tx a day It's 15k 154k per day. Every chance of lower fees during the weekend is gone when automated spammers fill most of the blocks: 
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¡uʍop ǝpᴉsdn pɐǝɥ ɹnoʎ ɥʇᴉʍ ʎuunɟ ʞool no⅄
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LoyceV (OP)
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Spam is getting worse again:  How can one guy be allowed to fuck up Bitcoin transactions for a year with automated spam transactions? This guy alone must have added about 50 GB to the blockchain, and that data will have to be kept forever. He must have paid hundreds of millions up to billions of dollars for this too.
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¡uʍop ǝpᴉsdn pɐǝɥ ɹnoʎ ɥʇᴉʍ ʎuunɟ ʞool no⅄
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LoyceV (OP)
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April 12, 2024, 12:42:26 PM |
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Spam is still getting worse:  From this screenshot, I estimate a "spam score" of 85%. I really don't get it: tens of millions of spam transactions, paying hundreds of millions if not billions of dollars in transaction fees. Madness!
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¡uʍop ǝpᴉsdn pɐǝɥ ɹnoʎ ɥʇᴉʍ ʎuunɟ ʞool no⅄
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stompix
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April 12, 2024, 12:56:06 PM |
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that's 154tx a day It's 15k per day. 56 000 000/365 is 153 424, nobody would have cared for an extra 14k a day when the blocks were mostly empty! I really don't get it: tens of millions of spam transactions, paying hundreds of millions if not billions of dollars in transaction fees. Madness!
Not really billions! First, we had a very bad day in terms of blocks, only 117 blooks in the last 24 hours so by bye early 25% of the capacity, then the total fees are not that bad either, only 7.9 millions, and in this you include people that don't mint ordinals, binance that pays 150sat/vb or Bitfinex that has no second thoughts on 469 sat/vbSo in the end, it takes little effort to clog the network, cause...you know... 1MB is enough for everyone 
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bitmover
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April 12, 2024, 01:27:04 PM |
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I really don't get it: tens of millions of spam transactions, paying hundreds of millions if not billions of dollars in transaction fees. Madness!
I think they are trying to mint all the nft they can before the halving. After the halving the price there is a chance that the price will skyrocket anytime and fees will get even higher (usd value)
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LoyceV (OP)
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April 12, 2024, 01:30:53 PM |
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I think they are trying to mint all the nft they can before the halving. NFTs make no sense, so "minting them" makes no sense either. It really looks like one guy came up with this, and is now holding the most of them. Or something.
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¡uʍop ǝpᴉsdn pɐǝɥ ɹnoʎ ɥʇᴉʍ ʎuunɟ ʞool no⅄
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OcTradism
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April 13, 2024, 03:46:22 AM |
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I think they are trying to mint all the nft they can before the halving. If they are doing this (minting) NFTs because of halving and they want to do this before the halving, the spam will reduce a lot after the halving. I can hope so because we can not know their reasons to mint a lot of NFTs like this. I doubt that they will stop after halving because in a bull run, there will be a lot of speculation and gamblers in this market. NFTs make no sense, so "minting them" makes no sense either. It really looks like one guy came up with this, and is now holding the most of them. Or something.
NFTs are useless, make no sense but in a bull market, many people believe in chance of get rich through NFTs. They will realize that they are wrong in a bear market.
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LoyceV (OP)
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April 13, 2024, 07:35:30 AM |
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Who are those people who spend $33 to turn their 0.0005 BTC into dust?
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¡uʍop ǝpᴉsdn pɐǝɥ ɹnoʎ ɥʇᴉʍ ʎuunɟ ʞool no⅄
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NeuroticFish
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April 13, 2024, 08:42:58 AM |
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Who are those people who spend $33 to turn their 0.0005 BTC into dust? I was told that those dust inputs carry Ordinals/NFT so I'd say... those making and selling that crap scam art. Maybe somebody else can read/make more sense in that particular tx. And if you hope expect to get 1000s of $ for that tx, spending 33$ is not a bad investment (in your dreams).
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LoyceV (OP)
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April 13, 2024, 12:48:53 PM |
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I was told that those dust inputs carry Ordinals/NFT I don't care about some "deeper meaning" that someone external from Bitcoin made up for something. All I see is fungible on-chain Bitcoin dust. And if you hope expect to get 1000s of $ for that tx, spending 33$ is not a bad investment (in your dreams). I'd understand that if there's a few of them. But since someone is creating tens of millions of them, it doesn't make sense. It's not rare, it's not scarse, it's just BS.
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¡uʍop ǝpᴉsdn pɐǝɥ ɹnoʎ ɥʇᴉʍ ʎuunɟ ʞool no⅄
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NeuroticFish
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April 13, 2024, 01:37:22 PM |
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And if you hope expect to get 1000s of $ for that tx, spending 33$ is not a bad investment (in your dreams). I'd understand that if there's a few of them. But since someone is creating tens of millions of them, it doesn't make sense. It's not rare, it's not scarse, it's just BS. I don't have a good overview / chart on how many are Ordinal related (is P2TR a good enough identifier? I don't know) and how many are just plain spam made by somebody who knows what is he doing (eg somebody related to mining). But don't take me wrong, I do agree that those ordinals are useless garbage more related to some hopes of scamming the next one than anything of real use. I also had my proposals to block them (as spam), but some said that Bitcoin network should not start censoring arbitrarily (which is also something I agree with). I have a feeling the truth is somewhere in between. Afaik Bitcoin Knots (Luke-Jr's fork of Bitcoin Core?) already filters them. But I guess that it's "market share" is far too small to matter.
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LoyceV (OP)
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April 13, 2024, 01:44:38 PM |
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I also had my proposals to block them (as spam), but some said that Bitcoin network should not start censoring arbitrarily (which is also something I agree with). I have a feeling the truth is somewhere in between. I wouldn't call it "arbitrary" if it's one person spamming the blockchain for so long. The reason I still think it's one person is because of the massive numbers of similar transactions that keep flooding the blockchain. If fees aren't enough to deter spammers, I'd like to bring back the "coin days destroyed" priority mechanism. But it's going to be difficult to get miners on board if it means less profit.
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¡uʍop ǝpᴉsdn pɐǝɥ ɹnoʎ ɥʇᴉʍ ʎuunɟ ʞool no⅄
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NeuroticFish
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April 13, 2024, 01:57:41 PM |
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I wouldn't call it "arbitrary" if it's one person spamming the blockchain for so long. The reason I still think it's one person is because of the massive numbers of similar transactions that keep flooding the blockchain. If fees aren't enough to deter spammers, I'd like to bring back the "coin days destroyed" priority mechanism. But it's going to be difficult to get miners on board if it means less profit.
As I said, I don't know "all the data", is it indeed only one entity doing all the spam?! But at the end, it goes to miners (and, as you said, let's not count on them because they're in only for the money) and maybe to community too. I guess that the community can do wonders - from switching to a "filter on" wallet/node to actually putting pressure/convince the devs to this direction. But... is the community convinced? Imho it's not. Imho if we want to go on this direction we may need to start with properly exposing the wallets (and hopefully entities too) that are responsible for all this spammy mess. It feels soooo like in the winter of 2017/2018... I checked and I saw no rare satoshi in this address So it's not Ordinals related after all? Interesting...
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stompix
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It's minting brc-20 tokens https://ordiscan.com/address/bc1pj54z06qh9pxhae09xw3mvrupzfppfgstfxvuhtt52t4fpgrvhs2qkmzqctand it's related to these https://ordiscan.com/address/bc1pvu6qnzpuyl6w3vmpuy79d6slplr7fyhan9wd476npjnf070wgn9s3uyjr2Normally I wouldn't mention them since, well, just some addresses with inscriptions, there are thousands, but speaking of weird transactions, this one really made me curious, I mean, what the f is it actually doing? https://mempool.space/tx/634a89b727cda93ddd10ea68dc08e7f17163444ee018881b4bf3fa98900bca02Afaik Bitcoin Knots (Luke-Jr's fork of Bitcoin Core?) already filters them. But I guess that it's "market share" is far too small to matter.
Just how his pool filters them but, money is what it counts, so 6 months and it's still just getting one exahash per day. https://ocean.xyz/dashboard
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LoyceV (OP)
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April 13, 2024, 02:04:54 PM Last edit: April 14, 2024, 09:02:07 AM by LoyceV |
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is it indeed only one entity doing all the spam?! I'm not sure, but it looks like it: exactly the same fee, exactly the same transaction, often using the previous outputs as inputs, and broadcasting them in batches.
Maybe it's time to significantly raise the dust limit. This transaction creates more than 1000 dust inputs.
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¡uʍop ǝpᴉsdn pɐǝɥ ɹnoʎ ɥʇᴉʍ ʎuunɟ ʞool no⅄
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ABCbits
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April 14, 2024, 09:19:18 AM |
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is it indeed only one entity doing all the spam?! I'm not sure, but it looks like it: exactly the same fee, exactly the same transaction, often using the previous outputs as inputs, and broadcasting them in batches.
Maybe it's time to significantly raise the dust limit. This transaction creates more than 1000 dust inputs. Or maybe several people use same script/software which create TX with static or poor fee rate choice algorithm. Maybe it's time to significantly raise the dust limit. This transaction creates more than 1000 dust inputs. I recall the dust limit was lowered from about 5460 satoshi to 546 satoshi some years ago, partially due to rising Bitcoin price. Unless Bitcoin price decline significantly, i don't expect dust limit will be raised.
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NeuroticFish
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April 14, 2024, 09:48:12 AM |
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Maybe it's time to significantly raise the dust limit. This transaction creates more than 1000 dust inputs. No. After reading the part I'll quote below (and I'll make some text bold to stand out), I think the correct approach (or at least one step in that direction) would be to make the P2TR output size be counted and limited to a reasonably small size. The small detail about P2TR output size tells that Ordinals actually exploit a missing rule in Bitcoin. As you can see in the script opcode, the push instructions are never evaluated. If they were, then all of these gigantic ordinals transactions would fail because they would overflow the stack. The manner in which the Ordinals transactions are spent is by using the conventional Schnorr signature directly, not any of the leaf evaluations. And also P2TR outputs do not count any sigops so its effectively limited only by block size, i.e. it's possible to fill an entire block with a large enough Ordinal.Of course, we should also keep an eye on who is also spamming the blockchain. Maybe some service actively tracking and sorting all possible spam sources could get a good feedback from the community. (Yes, I know, it's easy to say/dream...)
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