Is anyone saw mempool right now? Mempool spam

[Dave1]

I managed to get a transaction in with 40 sats byte. If I waited I could of gotten perhaps 25-30 sats byte. Seems it’s starting to level off and most likely by Sunday we can get 10-25 sat transactions going.

You need to make sure you get your transaction in by then because during the London open and especially New York open it will get more and more congested and you will be stuck paying 100 sat byte fees.

Yeah, I also get a transaction at 40 sats/vB, I think that's already a great improvement for us. And it just shows that those spamming the network can't sustain what they are doing (if the intention is to clogged and congest the mempool to make it not reusable for us bitcoin enthusiast).

So let's see, it's starting to normalized so maybe we will go back to like less than 10 sats/VB.

We could wait for it if we are not in a hurry to make any transactions.

[Z390]

This nonsense have been happening before Ordinals got here and now that Ordinals are finally here I am thinking that the Network will always be congested unless Ordinals failed woefully in the next bull market which is impossible, for new things in crypto don't always fail at first until they witness a bull market at least once.

I don't like paying high fee for transactions on bitcoin network but there is nothing we can do to get rid of Ordinals now, it's already too late, I used 41sats to make transaction this morning, I think it's cooling off already but I am still concerned about tomorrow, the more Bitcoin grows higher the fatter the transaction fee will become.

For the sake of miners I am less worried about Ordinals now, sooner I will also be a Bitcoin miner myself and the only way to keep miners busy is the reward they are getting while solving blocks, so ordinals will add more confident for them.

[bayu7adi]

Although, Ordinals and Inscription have been the reasons the mempool is congested up to this, but bitcoin mempool has been congested like this in the past when there was nothing like Ordinals.

Yep, that's correct. Ordinal has indeed been the cause of the recent transaction backlog. Transaction fees even reached 150+ sats/vbyte at one point. At least, yesterday, there was a backlog of over 200k transactions pending, and I chose to hold off and wait for the difficulty adjustment on November 13, 2023.

i believe that when the difficulty increases, transaction fees are likely to decrease. I've analyzed this mechanism in a previous post: https://bitcointalk.org/index.php?topic=5332291.msg63134767#msg63134767

However, until November 13, fees will gradually become more reasonable. Currently, the transaction fee for high-priority is 51 sats/vB. Maybe it'll go down even further tomorrow, and I can start transacting Bitcoin with lower fees as usual. Just waiting for the network overload to clear, that's not bad for me.

[Faisal2202]

Yes, that's the only thing we can do now, sit and just relax and let this whole craze go down a bit and for sure the fees are going to go back to the normal fees again. And it's true that before they also congested the network and then after a few weeks the fees is back to like 1-3 sat/vB.

Yeah, that's right but if we give it another few minutes then we will realize that back in time when the Fee of BTC TX skyrocketed the reason was like (the last time was) ordinals discovery which led to huge inscription of NFTs on BTC blockchain, Dusting with UTXOs means spamming the Network etc. But this time ORDI listing put the impact and the trading volume at the start is always huge so put a big impact on the fee I just checked the fee it came down to normal but what if in the future 100 or 50 BRC-based tokens are listed on top tier exchanges? I think I should also start a mining rig haha as the future is bright for the miner even if the reward block is being halved.

I think it's a good for others who don't have experience with LN to try it out for the first time. And if you are going to transact with others, it should be in LN until the network congestion is gone.

You are right, I also never used the Off-chain mechanism (LN) maybe I should also give it a try.

[BitMaxz]

I think it's a good for others who don't have experience with LN to try it out for the first time. And if you are going to transact with others, it should be in LN until the network congestion is gone.

You are right, I also never used the Off-chain mechanism (LN) maybe I should also give it a try.

You're too late to start using LN because if you make a transaction today with the current network you still need to pay a high transaction fee before you can have a channel.

It seems the mempool.space is down I can't access the site it might be under DDOS attack or the site already reach the hosting limit because it stuck at "error time out".

[wxa7115]

This nonsense have been happening before Ordinals got here and now that Ordinals are finally here I am thinking that the Network will always be congested unless Ordinals failed woefully in the next bull market which is impossible, for new things in crypto don't always fail at first until they witness a bull market at least once.

I don't like paying high fee for transactions on bitcoin network but there is nothing we can do to get rid of Ordinals now, it's already too late, I used 41sats to make transaction this morning, I think it's cooling off already but I am still concerned about tomorrow, the more Bitcoin grows higher the fatter the transaction fee will become.

For the sake of miners I am less worried about Ordinals now, sooner I will also be a Bitcoin miner myself and the only way to keep miners busy is the reward they are getting while solving blocks, so ordinals will add more confident for them.

Ordinals are going to become a real problem when the markets gets more bullish and we get to see a new ATH, as at those times everyone wants to get their transaction confirmed first as this gives them an advantage over those that have to wait.

So even if the growth in the popularity of Ordinals was organic, it will surely be used on the future to congest the network as much as possible during those moments everyone wants to buy more bitcoin.

[BenCodie]

I've just gone back to the sidelines as the mempool is not the only thing with anomalies right now. If you look at btc and most of the altcoin market, there was a huge drain of liquidity/liquidity grab market wide. Some alts/tokens dumped around 50% in just a matter of minutes...only for AMM'S to recover the price, but liquidating longs and stripping the book of its strength.

I am curious to see how the Mempool flood and the liquidity grab effects the market over this next week or so. This could effect sentiment quickly.

Also, there have been mempoool floods before, most recently around the time that Ordinals were new (earlier in the year). It costs money to spam the chain, so the attack will have to stop eventually.

Developers tried to tone down the price of transaction fee during the heavy fee of 2017, reason why they implemented segwit to solve the problem.  It indeed solve the high tx fee of those time and I hope the developer will do the same today.

If these ordinals spam are keep unchecked, this might create a problem in the future.

I'd say that it's quite likely that a solution will be adopted. Additionally, it's a good time for new Bitcoin network features, like lightning network and layer 2 solutions, to provide temporarily alternatives. It's not onchain, mainnet BTC, but these are solutions built for times like this.

I doubt it will last for too long. It costs a lot for an attacker to spam the network, and it eventually it becomes infeasible. Miners are probably just benchmarking the network pre-halving in order to see how much activity is needed for them to make the difference in block reward. It seems like the most logical explanation in comparison to a high net worth player just trying to attack/hinder the network temporarily.

If we're talking specifically about a network stress attack, then actually, it can stall price movement and additionally effect sentiment, as it temporarily highlights a flaw in usability and scalability for Bitcoin. It may be good for altchains that are more scalable, like ETH. It depends on the trajectory of the attack.

It will not only stall the price movement or affect the sentiment, it has more effect on the Bitcoin adoption and if this attack keep on going, many institutions that wanted to adopt Bitcoin may change their mind.

I doubt they will change their mind, but businesses looking to use Bitcoin might change their choice to another viable option.

[dansus021]

It is doubling effect from a Bitcoin bull run with many good news for Bitcoin Spot ETFs and Ordinals Inscription attack. Since February 2023, there are some waves of Ordinals attacks on Bitcoin mempools.
Inscriptions, Mempools and Miners

Yeah I would agree with you that inscription are make the network more heavier especially when market at the good condition right now. Is not possible to use bitcoin for every day payment if the fee itself is expensive like this.

and talk about ordinal

and what the heck is this, NFT??

[Bitcoin_people]

I think it's a complete fallacy that you're saying this cause will never be sustainable in the long run. If you saw 180sat/vB in mempool yesterday, it will definitely drop later, maybe you didn't notice. And in this way, there will never be pressure of transaction but it will gradually decrease and it is normal that free will come. This kind of pressure will never last long, if there is, many transactions will be stuck, due to which many types of problems can occur. That's why this problem is never long term but short term it increases and decreases for a short period of time. If you look at the mempool of a few days ago you might be surprised that there was a lot of growth then but that is not the case now.
Three days ago mempool transaction free was very much but now it has reduced a lot.


Today's mempool has definitely changed and the transaction pressure has reduced a lot. So we don't see any of the mempool spam here but this is how it always goes.

[TravelMug]

Today's mempool has definitely changed and the transaction pressure has reduced a lot. So we don't see any of the mempool spam here but this is how it always goes.

Definitely this kind of spam is not sustainable in the long run, and I doubt that a entities is benefiting from congesting the network. But still a deliberate attack though, just like paying more fees and then they will do a RBF. And mostly, the affected party here are those newbies, you might see a thread or two popping from time to time asking about how the hell their transactions are stuck and why the network is very congested. So we might have the burden to explain to them and even help them get out of that stuck transaction via accelerator tx https://www.viabtc.com/tools/txaccelerator. The only thing we can do is what till this attack settled down, but then again, this could be just a preview of what is going to happen if we are in a massive bull run as for sure there will be a lot of transactions.

[Catenaccio]

So we might have the burden to explain to them and even help them get out of that stuck transaction via accelerator tx https://www.viabtc.com/tools/txaccelerator.

To use the transaction accelerator, their Pending transactions must meet two conditions

fee rate is 10 sat/vbyte at least.
transaction size is less than 500 byte.

[philipma1957]

So we might have the burden to explain to them and even help them get out of that stuck transaction via accelerator tx https://www.viabtc.com/tools/txaccelerator.

To use the transaction accelerator, their Pending transactions must meet two conditions

fee rate is 10 sat/vbyte at least.
transaction size is less than 500 byte.

20 sat/vbyte which is 10 sat / byte

but the send must be two inputs or less. (500 bytes)

if you use trezor.io with rbf you can try to figure out how low to go and adjust if you went to low.

[Faisal2202]

You're too late to start using LN because if you make a transaction today with the current network you still need to pay a high transaction fee before you can have a channel.

If that's the case then I can wait for the removal of congestion in the BTC network, and when the fee will come back to normal I will try to open a channel. By the way, I did not know the initial fee has to be the same one that other network users are paying, your point made me realize that (hehe).

It seems the mempool.space is down I can't access the site it might be under DDOS attack or the site already reach the hosting limit because it stuck at "error time out".

I am replying quite late to you,  If there were any errors, they've likely been resolved by now.

[ArthurY]

Again seems to be a high

[eimanam]

Mempool right now seems to be in spam

[NewRanger]

I managed to get a transaction in with 40 sats byte. If I waited I could of gotten perhaps 25-30 sats byte. Seems it’s starting to level off and most likely by Sunday we can get 10-25 sat transactions going.

You need to make sure you get your transaction in by then because during the London open and especially New York open it will get more and more congested and you will be stuck paying 100 sat byte fees.

I tried to make a transaction with a fee per vbyte of 40 sats 6 days ago and to this day it has not been confirmed and the confirmation status is still pending and there is still Queue 110622 left to wait for. A pretty long wait. .

[NewRanger]

Memepool is really in a mess right now, every crypto transactions carry out doesn't complete up instantly, rather its been delayed because the memepool is congested.

Last night I tried a test using https://www.viabtc.com/tools/txaccelerator and it worked and today I used it again. Yes, I hope my transaction will be completed quickly with the same fee rate as before, namely fee per vbyte of 40 sats.

[adaseb]

Memepool is really in a mess right now, every crypto transactions carry out doesn't complete up instantly, rather its been delayed because the memepool is congested.

Last night I tried a test using https://www.viabtc.com/tools/txaccelerator and it worked and today I used it again. Yes, I hope my transaction will be completed quickly with the same fee rate as before, namely fee per vbyte of 40 sats.

Yeah I’ve been using this also. The only issue is that last week for a period of 4 days or so it was always full. The new hour would start and all the 100 slots would be used up. Almost instantly.

I tried 2 days ago and finally got a spot and it worked. However if you need to get more transactions in, do it soon because most likely with bitcoin hitting new highs it will only get worse from now on.

[NewRanger]

I tried 2 days ago and finally got a spot and it worked. However if you need to get more transactions in, do it soon because most likely with bitcoin hitting new highs it will only get worse from now on.

Maybe and https://www.viabtc.com/tools/txaccelerator works perfectly once done well. Thanks

[ArthurY]

Memepool is really in a mess right now, every crypto transactions carry out doesn't complete up instantly, rather its been delayed because the memepool is congested.

Last night I tried a test using https://www.viabtc.com/tools/txaccelerator and it worked and today I used it again. Yes, I hope my transaction will be completed quickly with the same fee rate as before, namely fee per vbyte of 40 sats.

Before that's tool been nice. New updates do not allow pass weight transactions for free and paid service still high priced and not simple payments processor to proceed the transaction