Delay your Bitcoin transaction for this week| Volunteer campaign

[Yamane_Keto]

We all know the problem of the recent high bitcoin fees and because we can't do much, at least postpone all your bitcoin transactions for this week, including a call to all signature campaigns and your friends to postpone payment for this week for several days.

Future solutions:
Use Bech32 addresses.
Use wallet that support RBF.
When fees are low Fees not low! Wait for opportunity to Consolidate your small inputs, consolidate all of your previous transactions into one income.
Use the Lightning Network for everyday payments.

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[bitmover]

I agree that postpone transactions is the best to do now. Fees are really crazy.

Until this ordinals crazy ends, there isn't much we can do. Fees are already better than when you posted.

I have created this api which always shows the updated recommened fees

Code:

[url=https://bitcoindata.science/local-price-to-image.html][img]https://bitcoindata.science/api/bitcoinfees.php[/img][/url]

[tbct_mt2]

I agree that postpone transactions is the best to do now. Fees are really crazy.

Until this ordinals crazy ends, there isn't much we can do. Fees are already better than when you posted.

Mempool began to look less deadly when waiting transactions with very expensive fee rates have been cleared gradually in the latest hours. Mempool is moving from red bands to yellow bands which are less expensive for us.

However I agree with you that we don't have reasons to move our bitcoins in these days and feed miners as well as the attacks on Bitcoin network. If many people do this, we can stop the attacks sooner and contribute to bring fee rates to new normality.

[Despairo]

I don't think high fees only last for this week, as long as the hype on BRC-20 tokens is still happen, the fees would be like this and will not changed. We need a news where the hacker find a vulnerability on BRC-20 tokens or the creator of those tokens run with investors money. It will not stop 100% all people to not get involved in BRC-20 tokens, but it obviously the traffic will decrease and it would make the hype over.

[thecodebear]

An attack with such fees can only last so long. Looks like the extreme fees from the past day or two are already going away as average fees seem to be now where they were for the past week rather than the past day or two. Still high a few times higher than normal of course, but the attack seems to be (hopefully) subsiding.

[Nwada001]

I don't think high fees only last for this week, as long as the hype on BRC-20 tokens is still happen, the fees would be like this and will not changed. We need a news where the hacker find a vulnerability on BRC-20 tokens or the creator of those tokens run with investors money. It will not stop 100% all people to not get involved in BRC-20 tokens, but it obviously the traffic will decrease and it would make the hype over.

Even an attack on the BRC-20 token won't actually work; have you forgotten that even with the high ETH fee back then, NFT worth millions of dollars were hijacked? What happened is that people just kept on moving their assets to a newer wallet, which they thought was more protective, keeping the network busy, and the fee still continues. I think the only solution here is that, whatever method those developers used in implementing BRC-20, validators should also look for a way to stop that from happening. If the BRC-20 tokens can be completely shut down, I think we will see back our old and regular fee as it used to be.

[Cvetik56]

I wasn't planning to make any transactions at all anyway, but this is huge. The fees and the transaction time is insane now. I guess I'll wait for the week or two to buy some BTC, don't think it's gonna pump.

[Stepstowealth]

We should not just delay transactions for this weeks, but we should all delay these transactions until when necessary, that is if not  still necessary in a week, wait for a longer time.

I agree that postpone transactions is the best to do now. Fees are really crazy.

If many people agree to postpone transactions, there will be less congestion for the few who really need to make transactions, the fees will reduce. 

[thecodebear]

Yes agreed. I mean I guess there was a major spam attack on Bitcoin like yesterday and the day before as fees were very high and they've got back down a lot now. When that sort of thing happens most people should just delay their transactions for a few days. Most people aren't using bitcoin to buy things, but rather just move money around to exchanges or off exchanges or whatever so just wait a few days to do it.

[Doan9269]

Future solutions:
Use Bech32 addresses.
Use wallet that support RBF.
When fees are low Fees not low! Wait for opportunity to Consolidate your small inputs, consolidate all of your previous transactions into one income.
Use the Lightning Network for everyday payments.

Good and perfect ideas, but we expect all these to soon end as solution will be engineered toward the issue of high transaction fee relating to ordinals, something of this has already happened in the past sometimes in 2017 whereby we gad a scenario similar to this, but this got back as expected over time as solution was derived to tackle it, as lomg as the network is not at risk by this then i believe we are good to endure till the lasting solution arrives, we should always try to check the mempool before making any transaction in other to know the direction of where we are heading to whenever we want to make any payment transaction to avoid being disappointed or delayed.

[Mate2237]

It is a good plan or idea but what about those who are making transactions every day? In the forum user can suspend all transactions till further notice. What about traders? This high hike of fee is good with those who are investing for a very long period of time. They are not even bother to transfer any coins. But really this issue right now is affecting households, people are crying for survival. There are some people that want to make transactions that the fee is even higher than the unit of coins that they want to withdraw from their wallets. The whole stuff is mess up. People where not really expecting such to happen in the bitcoin blockchain .

[thecodebear]

It is a good plan or idea but what about those who are making transactions every day? In the forum user can suspend all transactions till further notice. What about traders? This high hike of fee is good with those who are investing for a very long period of time. They are not even bother to transfer any coins. But really this issue right now is affecting households, people are crying for survival. There are some people that want to make transactions that the fee is even higher than the unit of coins that they want to withdraw from their wallets. The whole stuff is mess up. People where not really expecting such to happen in the bitcoin blockchain .

It doesn't affect traders. If you trade you have your money on a centralized exchange so you aren't touching the blockchain unless the rare time when you move between exchanges.

Most people can delay their txs a few days no problem. Not many people use bitcoin for daily spending. And many people who do, do it by choice, and can also delay doing it for a few days. Of course there are always people who want to do a tx today and if they really badly want to do the tx today they will do it, but lots of people can delay without harm. The only real harm would be for perhaps those small areas in some third world countries who use bitcoin regularly (and aren't yet on LN) because they have to. Let's let them keep doing their transactions because they need to, while most other people can simply choose to wait a bit without any problems. For most people it won't matter if they make a transaction today or tomorrow or a week from now, and those people should volunteer to wait a few days. Heck the tx fees have already dropped from like $20-$30 yesterday to $6-$7 today so perhaps the worst part of the attack is already over.

[jokers10]

We all know the problem of the recent high bitcoin fees and because we can't do much, at least postpone all your bitcoin transactions for this week, including a call to all signature campaigns and your friends to postpone payment for this week for several days.
...

Binance announced that they will support Bitcoin Ordinals and BRC-20 capitalization is already about 1 billion. Do you really think this will be over soon enough? Of course we can try to send more rarely, but Ordinals already take much more than a half of all transactions in blocks. So it won't solve the problem. We can just postpone its solving this way. I'd say we should expect this horror to stay with us at least for months... unfortunately. At least we should be prepared to this.

[hd49728]

Future solutions:
Use Bech32 addresses.
Use wallet that support RBF.
When fees are low Fees not low! Wait for opportunity to Consolidate your small inputs, consolidate all of your previous transactions into one income.

All good.

Use the Lightning Network for everyday payments.

But this one is not. I have never made any transaction on the Lightning Network and many of us did not use it.

You will have to open your Lightning Network channel and do some technical steps to use it. Very limited exchanges or platforms support you with Lightning Network.

Good and perfect ideas, but we expect all these to soon end as solution will be engineered toward the issue of high transaction fee relating to ordinals, something of this has already happened in the past sometimes in 2017 whereby we gad a scenario similar to this

Technical solutions must be developed and supported by Bitcoin community and deployed it on Bitcoin blockchain. The current chaos comes from Taproot upgrade two years ago and now we will have to come to another upgrade to fix flaws in Taproot which is abused by Ordinals and BRC20 tokens.

[noorman0]

-snip-
including a call to all signature campaigns and your friends to postpone payment for this week for several days.

Lol, this must have hurt some participants if forum signature campaigns were their source of income. Still remember this thread? Maybe they should hang on to king status while the mempool is clogged, or maybe they couldn't eat for that long.

I can't understand why BRC-20 has to be part of the ecosystem, while its presence doesn't add any improvements other than massively disrupting network traffic.

[Fiatless]

We all know the problem of the recent high bitcoin fees and because we can't do much, at least postpone all your bitcoin transactions for this week, including a call to all signature campaigns and your friends to postpone payment for this week for several days.

This is a good solution for those that don't depend on Bitcoin for daily business transactions. I know some businesses that are highly reliant on Bitcoin as a means of payment for imports. This will affect the business negatively. But for those that don't depend on bitcoin, there is no need to congest the Bitcoin network. This situation might also be designed by some forces to spread FUD. So we must do all we can to reduce the impact of their actions. This BRC-20 tokens hype will soon die down and the main pool will become free thereby leading to a drop in transaction fees. After all, this is not the first time such an attack is happening, bitcoin will surely overcome.

[Yogee]

[......]
Even if all of us here stop spending, there’s no guarantee that the network will be less congested because there’s literally someone flooding it with dust transaction.

No guarantee indeed but if everybody thinks that way then don't expect a less congested network anytime soon. Not participating or adding more to the congestion problem like what the OP is suggesting is already helping in a way.

[...]
I can't understand why BRC-20 has to be part of the ecosystem, while its presence doesn't add any improvements other than massively disrupting network traffic.

I guess it wasn't intended to be part of the Bitcoin ecosystem but someone found a "loophole" from the taproot upgrade to insert those tokens and then greed took over.

[salad daging]

I didn't make a transaction in signature campaigns I'm just trying to keep it in my wallet while I don't need it but I'm a doer doing DCA every week or every two weeks buying BTC from exchanges now applying a higher fee of 0.001 from Binance this will a little delayed I think it's a big amount but I'll be keeping a little on the exchange until the mempools normalize again to make lower withdrawals or wait for the Binance exchange to adopt the Lighting Network sometime soon.

I don't think high fees only last for this week, as long as the hype on BRC-20 tokens is still happen, the fees would be like this and will not changed. We need a news where the hacker find a vulnerability on BRC-20 tokens or the creator of those tokens run with investors money. It will not stop 100% all people to not get involved in BRC-20 tokens, but it obviously the traffic will decrease and it would make the hype over.

I hope that the high fees won't last for weeks, of course it will burden those of us who often make transactions, the brc20 hype is still going on but I don't know when this hype will end, maybe it won't take that long to return to normal for bitcoin transactions.
I am not involved in brc20 tokens even though the profits are many times over, this is just a pump that is being manipulated by other investors so that others follow it but for me this will end soon.

[Rupok]

Everyone is expressing concern over the recent high Bitcoin fees.  I don't know how long the high bitcoin fees for bitcoin transactions will be a problem. Although we all know about the high fees of ethereum.But no one expected Bitcoin to pay high fees.  But I like your idea very much.  All Bitcoin users should follow this idea if they want to avoid high fees. Since we cannot do more than that, we should avoid transactions.  But for those who are investing for a long time, the high fees may not have much impact.

[sokani]

I don't think high fees only last for this week, as long as the hype on BRC-20 tokens is still happen, the fees would be like this and will not changed. We need a news where the hacker find a vulnerability on BRC-20 tokens or the creator of those tokens run with investors money.

I believe the BRC-20 tokens prominence is an indirect attack on the Bitcoin network. I think the hype is getting everyone really crazy and it's generating a lot of traction. It's just a matter of time before something happens and the BRC-20 tokens will die a natural death just as every other fake tokens. But before then, we need an immediate solution to address this crazy transaction fees.