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Author Topic: Summarizing issues in the bitcoin community and how to address them.  (Read 314 times)
albert0bsd (OP)
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September 06, 2023, 10:01:33 PM
 #21

Ps: you said you did not found any topic related ro this issue and now I think i am reading your reply late while I already read 3 topics on this issue before reading yours.

The thing that i didn't found was a topic about the current problems, issues or things that may affect to the bitcoin ecosystem.

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The Sceptical Chymist
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September 07, 2023, 05:43:17 AM
 #22

OP, I very much appreciate your post--you didn't explain a lot of things in detail, but that's OK because I came away from reading it with a lot of questions about terms I've seen in various places but never bothered to learn the meaning of.  That's me being relatively stupid and incredibly lazy (typical me).

But god I love legacy addresses.  Am I the only one?  I can't be, even though I do understand some of the drawbacks.

after all bitcoin was made for the unbanked not the elitists
I never read bitcoin's whitepaper or even what was written way back when about its "true purpose" but I'd agree that the unbanked population is who it should be for.  Unfortunately, here we are in 2023 and it hasn't really turned out that way.

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SamReomo
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September 07, 2023, 06:26:49 AM
 #23


average joe is not part of the the hundreds of millions of "first worlders" but the multi billion populous of "3rd worlders"

you might want to check minimum wage amounts of the average joe

after all bitcoin was made for the unbanked not the elitists

Well, I agree with you the ones in third world countries can be considered as average joe because they hardly earn enough to fulfill their basic needs. However, I still think that Bitcoin wasn't made for the unbanked ones only but it was made for everyone. The banked users and the unbanked users both can benefit from Bitcoin, and I must say that elitists are also into Bitcoin and we can't ignore that thing. The Bitcoin was mostly created to solve the issue that users faced with regulatory authorities, but now most people consider it as an asset.

@OP I believe that the highest priority issue with Bitcoin blockchain is network congestion and whether it happens due to Ordinals or due to something else but it's really the highest priority problem for the whole community. The network congestion increases the transaction fees to very high levels and many people get scared due to high transaction fees. The most important issue to address should be the network congestion issue and we must have to find a better solution in order to avoid that issue. We are mostly trapped because of the limited size of Bitcoin blockchain block size of just 1 MB and that's why we can't really do anything to solve the issue right now, but who knows that there may be a better solution for the issue in future.



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September 07, 2023, 07:16:29 AM
 #24

OP, I very much appreciate your post--you didn't explain a lot of things in detail, but that's OK because I came away from reading it with a lot of questions about terms I've seen in various places but never bothered to learn the meaning of.  That's me being relatively stupid and incredibly lazy (typical me).

But god I love legacy addresses.  Am I the only one?  I can't be, even though I do understand some of the drawbacks.

after all bitcoin was made for the unbanked not the elitists
I never read bitcoin's whitepaper or even what was written way back when about its "true purpose" but I'd agree that the unbanked population is who it should be for.  Unfortunately, here we are in 2023 and it hasn't really turned out that way.

The real issue that they are themselves to blame for this situation in a way. But perhaps many of them don't need a bank account? If you are facing issues like hunger, thirst, homelessness, poverty, war, abuse, extreme weather etc lack of bank account is not your #1 priority in life.    Shocked
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September 07, 2023, 10:24:43 AM
 #25

So you really think $0.65 is too expensive for the average Joe? The one who cannot pay that amount for the transaction has much bigger problems than the current situation with mempool...

average joe is not part of the the hundreds of millions of "first worlders" but the multi billion populous of "3rd worlders"

you might want to check minimum wage amounts of the average joe

after all bitcoin was made for the unbanked not the elitists


I thought that Bitcoin was made for everyone who wants an alternative to the existing system, but it is not Satoshi's fault that those who are unbanked are still mostly the same ones who do not have access to the Internet, and therefore neither to Bitcoin.

Regarding the minimum wages, I know people work for only a few $ in Venezuela, or a few tens of $ in some African countries, but they can't even afford BTC, so I wonder if it makes a difference if the fee is $0.10 or $0.60?

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albert0bsd (OP)
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September 10, 2023, 08:46:20 PM
 #26

More of 80% of the pending transacction on mempool are dust.

Well that is actually anoying i did a small sampling from the mempool pending TXs and I count only those with one input, one ouput and output value less than 600 satoshis, and more of the 80% of those match with this criteria.


Here is the code that i used was:

Code:
import sys
import json
import math
import time
import random
import requests

def round_up_to_decimals(number, decimals):
    factor = 10 ** decimals
    rounded_number = math.ceil(number * factor) / factor
    return rounded_number

def get_tx(txid):
    tx = None
    try:
        url = ""
        if networkname=="bitcoin":
            url = "https://mempool.space/api/tx/" + txid
        elif networkname=="testnet":
            url = "https://mempool.space/testnet/api/tx/" + txid
        else:
            print("Unknow network")
            exit()
        response = requests.get(url)
        if response.status_code == 200:
            tx = response.json()
            return tx
        else:
            return tx
    except Exception as e:
        print(f"An error occurred: {e}")
        return tx

def get_mempool_txids():
    time.sleep(0.01)
    txids = []
    try:
        url = ""
        if networkname=="bitcoin":
            url = "https://mempool.space/api/mempool/txids"
        elif networkname=="testnet":
            url = "https://mempool.space/testnet/api/mempool/txids"
        else:
            print("Unknow network")
            exit()
        response = requests.get(url)
        if response.status_code == 200:
            txids = response.json()
            return txids
    except Exception as e:
        print(f"An error occurred: {e}")
        return txids
       
networkname = "bitcoin"
print("Downloading mempool txids list")
txids = get_mempool_txids()
# Save in to file optional
#print("Saving file....")
#with open("mempooltxids.txt", "w") as file:
#    file.writelines("%s\n" % txid for txid in txids)
if len(txids) == 0:
    print("Error getting mempool TX")
print(f"Total TX on mempool: {len(txids)}")
dust_counter = 0
total_counter = 0
for i in range(0,1000):
    txid = random.choice(txids)
    tx = get_tx(txid)
    if(tx is None):
        print(f"Error")
        dust_percentage = 100 * (round_up_to_decimals(dust_counter/total_counter,4))
        print(f"\nTotal dust tx found {dust_counter} of {total_counter}: %{dust_percentage}")
        exit()
    if(len(tx['vin']) == 1 and len(tx['vout']) == 1 and tx['vout'][0]['value'] < 600):
        dust_counter += 1
    #txids.remove(txid)
    total_counter += 1
    print(".",end="")
    sys.stdout.flush()
dust_percentage = 100 * (round_up_to_decimals(dust_counter/total_counter,2))
print(f"\nTotal dust txs found {dust_counter} of {total_counter}: %{dust_percentage}")


Output:
Code:
albertobsd:~$ python3 count_dust_tx_mempool.py
Downloading mempool txids list
Saving file....
Total TX on mempool: 564411
...
Total dust txs found 855 of 1000: %85.5

According to the Mempool.space API documentation:

Quote
GET Mempool Transaction IDs
Get the full list of txids in the mempool as an array. The order of the txids is arbitrary and does not match bitcoind.

I use random choice in python

Quote
The choice() method returns a randomly selected element from the specified sequence.

So in general this problem may get worse in the future if the ordinals don't stop their SPAM


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