Is the Mempool under a DOS attack?

[mishax1]

A simple look on the blockchain shows that the entity that spams the blockchain receives/withdraws funds from Binance, so Binance know who that is.

first transaction coming from bc1qm34lsc65zpw79lxes69zkqmk6ee3ewf0j77s3h which the binance hot wallet

The rest is spam - https://mempool.space/address/bc1pmgchlfu9jt3k5a2nh2a0nwygvv9dj30az8ystz404franf4fad4sjsnt9v

This is just one example, there are many other addresses that look and do the same.

[1714248424]

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[1714248424]

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[1714248424]

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[1714248424]

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[BVeyron]

I was wondering what is clogging up the mempool lately and decided to have a look. In one of the blocks I found the following 3 transactions:

https://mempool.space/tx/d0cc7f159d4be77b01954830ac02dd3717044fc63be5f0248fce822313c6ce86
https://mempool.space/tx/47c44058bd770508f6f93864342020caeecc804f6f06204944a58ae9cab13cb6
https://mempool.space/tx/7d2c3577250b452deb8c38f6881e8dd4dc9705c06d94370d5d11bdf8d43e3abc

All of the above pay a fee of ~10$ to produce a dust UTXO of 546 sats. There are a lot more like these, e.g. see the transaction history of the following address:

https://mempool.space/address/bc1p0h74a5yq5v33x4det366jxvs5afvkzw592maeqdrpneld9h0amfs4la4wa

So, somebody is paying miners outrageous fees to transfer almost no value. Why would anybody do that except for nefarious purposes?

There was an NFT hype. I doubt that it was a planned DOS attack, but the problem is that blockchain mechanism is vulnerable to such things despite being well-protected due to its decentralised nature. So it requires some effort to improve protocols...

[Artemis3]

Beginning this month, i made two transactions. Wallet was set to 10mb (mempool distance) and it automatically set the tx fee, one 9 sat/b, the other 9.5 sat/b. The first one is still waiting, the second one took 1 day.

I wish it was from traffic of people using Bitcoin for actual bitcoin transactions worldwide and not pool sponsored spam.

Thanks spammers and those who defend it, laugh at the people who can't afford 2 dollars for a 5 dollar transaction or put a bunch of money upfront to open a lightning channel (which also needs to fight the spammers to open and severely limits you the amounts you can transact).

You are ruining people's lifes but you don't care because you earn in the tens thousands per month, so of course you laugh at the poor...

[nakamura12]

Beginning this month, i made two transactions. Wallet was set to 10mb (mempool distance) and it automatically set the tx fee, one 9 sat/b, the other 9.5 sat/b. The first one is still waiting, the second one took 1 day.

I wish it was from traffic of people using Bitcoin for actual bitcoin transactions worldwide and not pool sponsored spam.

Thanks spammers and those who defend it, laugh at the people who can't afford 2 dollars for a 5 dollar transaction or put a bunch of money upfront to open a lightning channel (which also needs to fight the spammers to open and severely limits you the amounts you can transact).

You are ruining people's lifes but you don't care because you earn in the tens thousands per month, so of course you laugh at the poor...

That's right. The poor people will ve forced to set the fee much higher and the amount that they had will decrease just because of the fee. I also have this problem where I received less BTC because I had to make the transaction much faster getting confirmed. I experienced delayed of my BTC almost 1 week before when the fee had increased.

[buwaytress]

Denial of service must be getting a new meaning these days, for a poor old 90s child like me to understand...

That's right. The poor people will ve forced to set the fee much higher and the amount that they had will decrease just because of the fee. I also have this problem where I received less BTC because I had to make the transaction much faster getting confirmed. I experienced delayed of my BTC almost 1 week before when the fee had increased.

And then there are also people like you claiming all of this but probably doing nothing of the sort. If you're guilty of spamming the forum then you should be all right with network spammers.

How do you "receive" btc when you're the one making the transaction and paying a higher fee? Explain yourself, show your transaction, and sign the address and I will take back everything I say about you and posters like you. Promise.

[LoyceV]

laugh at the people who can't afford 2 dollars for a 5 dollar transaction or put a bunch of money upfront to open a lightning channel (which also needs to fight the spammers to open and severely limits you the amounts you can transact).

They could have opened a LN channel when fees were lower, or switch to custodial LN. As much as I hate blockchain spam, on-chain Bitcoin can't be used on a large-scale for many small transactions.

You are ruining people's lifes

If Bitcoin transaction fees can ruin your life, you have bigger problems.

[Kakmakr]

I am putting my money on the theory that it has something to do with the "Ordinals" hype that are currently trending. 

My other conspiracy theory are that a competitor shitcoin are using their proceeds from pre-mined "free tokens" to attack Bitcoin, in the hope that people would buy more shitcoins, when they see that Bitcoin is struggling. 

I think most people have realized that the Lightning Network is the "currency" network of Bitcoin, so flooding the Bitcoin Blockchain actually has no impact on that.... so it's is money being burnt for nothing.