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Author Topic: [Apr 2024] Fees are HIGH, wait for opportunity to Consolidate your small inputs  (Read 83563 times)
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April 24, 2024, 12:14:15 AM
 #961

This strengthens my theory that it's one person behind it. If different people would be doing this many transactions, I'd expect a more even inflow without high peaks.
Who could it be? A BCH/BSV fanatic? Shocked

This strengthens my theory that it's one person behind it. If different people would be doing this many transactions, I'd expect a more even inflow without high peaks.

I vote for Vitalik Buterin.
Some kind of revenge for all the suffering the Ethereum network went through with NFTmania. He certainly has the money for this kind of venture  Wink
Is he a BTC whale?

I thought he only had ETH.

It's not about fees but since this thread turned into Ordinals discussion, I'll ask here:
1. Does anyone know what are the most popular Bitcoin Ordinals marketplace websites? Or where can I see how many Ordinals are traded daily? I know that I can check mempool and see transactions but I want to know besides creating new ordinals, how many of them are traded (bough and sold).

Sometimes these fee rate adjustments do not make sense at all, and what is even more funny is that the adjustments are done just a few minutes apart. Like, who does this kind of stupid thing?
I had the same question. There is a possibility that it's a bot with bad configuration. I have seen way worse fees than what you shared. Mempool is full of transactions that had recommended fee and then fee was increased up to 100 times with multiple RBFs. That doesn't make sense to me. Imagine, recommended fee is 100 sat/vByte, then someone uses RBF and increases it up to 200 sat/vByte, then up to 1000 sat/vByte, then up to 5000 sat/vByte and so on, within minutes.
In the age of AI, this is totally unacceptable. Bots can and should be smarter than that...
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Transactions must be included in a block to be properly completed. When you send a transaction, it is broadcast to miners. Miners can then optionally include it in their next blocks. Miners will be more inclined to include your transaction if it has a higher transaction fee.
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April 24, 2024, 07:33:38 AM
 #962

This strengthens my theory that it's one person behind it. If different people would be doing this many transactions, I'd expect a more even inflow without high peaks.
Who could it be? A BCH/BSV fanatic? Shocked
I don't believe someone is just burning his money on fees. It must be someone who sells useless made-up tokens to gullible people with FOMO. Even here on Bitcointalk I now see people who are getting curious.

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April 24, 2024, 09:56:19 AM
 #963

Sometimes these fee rate adjustments do not make sense at all, and what is even more funny is that the adjustments are done just a few minutes apart. Like, who does this kind of stupid thing?
I had the same question. There is a possibility that it's a bot with bad configuration. I have seen way worse fees than what you shared. Mempool is full of transactions that had recommended fee and then fee was increased up to 100 times with multiple RBFs. That doesn't make sense to me. Imagine, recommended fee is 100 sat/vByte, then someone uses RBF and increases it up to 200 sat/vByte, then up to 1000 sat/vByte, then up to 5000 sat/vByte and so on, within minutes.
In the age of AI, this is totally unacceptable. Bots can and should be smarter than that...

Using hard coding or existing (non AI) fee recommendation algorithm is far easier and cheaper than using AI though. And i'm not sure how we can use AI to show fee recommendation? Should we use whole mempool as input of the AI?

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