The network seems stressed (and behind) right now

[onemorebtc]

Hmm. Seems like the network is really stressed. Too much transactions "clogged"?

Its because you are loosing miners left and right. No miners means no transactions processed, at a difficulty of over 46 billion, and a value of only 200 to 230 bucks, its just not profitable to mine bitcoin. All your small miners you guys think are worthless are now mining other coins and flipping them for bigger profits, all the big mining compuonds are bogged down with huge difficulties. This is because the big compounds have no idea what they are doing as far as securing the network, all they care about is making X amount of dollars for solving X amount of blocks so they can pay the electric and have enough left over to fuel their yacht.

The small miners are needed a lot more than this community would liek to give them credit for actually, at this point with sometimes 2 hour confirms on bitcoin transaction the bottom line is, you need more computing power, and its just not worth it to mine Bitcoins right now.

the amount of miners has nothing to do with the amount of transactions that can be processed.
more miners = more security: no more and no less

(though if miners are leaving the diff is lowering and blocktimes raise which lowers the tps a little. but i dont see this as a problem right now)

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[LiteCoinGuy]

Hmm. Seems like the network is really stressed. Too much transactions "clogged"?

Its because you are loosing miners left and right. No miners means no transactions processed, at a difficulty of over 46 billion, and a value of only 200 to 230 bucks, its just not profitable to mine bitcoin. All your small miners you guys think are worthless are now mining other coins and flipping them for bigger profits, all the big mining compuonds are bogged down with huge difficulties. This is because the big compounds have no idea what they are doing as far as securing the network, all they care about is making X amount of dollars for solving X amount of blocks so they can pay the electric and have enough left over to fuel their yacht.

The small miners are needed a lot more than this community would liek to give them credit for actually, at this point with sometimes 2 hour confirms on bitcoin transaction the bottom line is, you need more computing power, and its just not worth it to mine Bitcoins right now.

lol!

[Wheraill]

My transactions are taking a really long time to confirm. Maybe we need to do the hardfork sooner...

[tss]

Hmm. Seems like the network is really stressed. Too much transactions "clogged"?

Its because you are loosing miners left and right. No miners means no transactions processed, at a difficulty of over 46 billion, and a value of only 200 to 230 bucks, its just not profitable to mine bitcoin. All your small miners you guys think are worthless are now mining other coins and flipping them for bigger profits, all the big mining compuonds are bogged down with huge difficulties. This is because the big compounds have no idea what they are doing as far as securing the network, all they care about is making X amount of dollars for solving X amount of blocks so they can pay the electric and have enough left over to fuel their yacht.

The small miners are needed a lot more than this community would liek to give them credit for actually, at this point with sometimes 2 hour confirms on bitcoin transaction the bottom line is, you need more computing power, and its just not worth it to mine Bitcoins right now.

Why did you open your mouth to tell the world you're dumb as fuck?

just curious....

haha.. yuuup..

My transactions are taking a really long time to confirm. Maybe we need to do the hardfork sooner...

another one.  sooner than what?  my transactions confirm in the normal time.  go away.

[inBitweTrust]

Its because you are loosing miners left and right. No miners means no transactions processed, at a difficulty of over 46 billion, and a value of only 200 to 230 bucks, its just not profitable to mine bitcoin. All your small miners you guys think are worthless are now mining other coins and flipping them for bigger profits, all the big mining compuonds are bogged down with huge difficulties.

Amazingly ignorant and incorrect on multiple levels. My last post to you before you are ignored, his post history is depressing. I recommend everyone else ignore this troll as well.

Difficulty is increasing steadily-
https://bitcoinwisdom.com/bitcoin/difficulty

Which means blocks are being found quicker than average and more miners are coming on board.

Yes, we need a hardfork to increase the block limit but there is no evidence to suggest that confirmations are slower than normal.

[drawingthesun]

Is this really news? I recall several thousand tx being in the queue as the norm for Bitcoin.
In addition, all my transactions with the proper fee have been accepted as per normal.

I think if we start to see 10,000 unconfirmed fee paying tx then we might need to raise the alarm.

Like someone's earlier calculations in this thread suggest, the average fee of the unconfirmed tx in queue is really low.

[tss]

My transactions are taking a really long time to confirm. Maybe we need to do the hardfork sooner...

another one.  sooner than what?  my transactions confirm in the normal time.  go away.

We need the block size increased and you know that's what he meant. It's true were going to be hitting the cap and we need not to do a panic fork but one sooner than later .

yes we do, and maybe thats what he meant but his post made 2 clearly unrelated statements.  just pointing that out.

[jbrnt]

If you rate the level of network stress by how close the recent block size is to the 1M cap, I would agree we are stressed. I think the large block size could be a result of high difficulty. Miners are finding it difficult to solve blocks as quickly as before. While they take longer to solve the block, they add more transactions and hence the increase in blocksize.

[Soros Shorts]

If you rate the level of network stress by how close the recent block size is to the 1M cap, I would agree we are stressed. I think the large block size could be a result of high difficulty. Miners are finding it difficult to solve blocks as quickly as before. While they take longer to solve the block, they add more transactions and hence the increase in blocksize.

Current blocks solved per hour according to bitcoincharts.com is 5.89. This is only slightly lower than the target rate of 6.0/hour, so you can't really blame difficulty.

[LordSonjai]

Hmm. Seems like the network is really stressed. Too much transactions "clogged"?

Its because you are loosing miners left and right. No miners means no transactions processed, at a difficulty of over 46 billion, and a value of only 200 to 230 bucks, its just not profitable to mine bitcoin. All your small miners you guys think are worthless are now mining other coins and flipping them for bigger profits, all the big mining compuonds are bogged down with huge difficulties. This is because the big compounds have no idea what they are doing as far as securing the network, all they care about is making X amount of dollars for solving X amount of blocks so they can pay the electric and have enough left over to fuel their yacht.

The small miners are needed a lot more than this community would liek to give them credit for actually, at this point with sometimes 2 hour confirms on bitcoin transaction the bottom line is, you need more computing power, and its just not worth it to mine Bitcoins right now.

Why did you open your mouth to tell the world you're dumb as fuck?

just curious....

for a hero member you sure are belligerent.

[Yakamoto]

Hmm. Seems like the network is really stressed. Too much transactions "clogged"?

Its because you are loosing miners left and right. No miners means no transactions processed, at a difficulty of over 46 billion, and a value of only 200 to 230 bucks, its just not profitable to mine bitcoin. All your small miners you guys think are worthless are now mining other coins and flipping them for bigger profits, all the big mining compuonds are bogged down with huge difficulties. This is because the big compounds have no idea what they are doing as far as securing the network, all they care about is making X amount of dollars for solving X amount of blocks so they can pay the electric and have enough left over to fuel their yacht.

The small miners are needed a lot more than this community would liek to give them credit for actually, at this point with sometimes 2 hour confirms on bitcoin transaction the bottom line is, you need more computing power, and its just not worth it to mine Bitcoins right now.

Why did you open your mouth to tell the world you're dumb as fuck?

just curious....

for a hero member you sure are belligerent.

For a full member you don't seem understand how the forum works very well.

Rank means nothing, it's just how long you've been around and how much you participate on the forum.

Everyone has their own opinion, and so if you would try to not be an asshole that'd be great.

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Related to the actual issue at hand, where would the clogging of the network stem/originate from, assuming it is a clog (However unlikely)?

And the statement of losing miners may be true for small groups of people. There are still large corporations (Such as cex.io) that still have plenty of mining power behind them, but that isn't even necessary.

THE DIFFICULTY WILL NOT INCREASE AS RAPIDLY WITH FEWER MINERS. This part of the Bitcoin protocol is very useful for scenarios such as this.

I'm not sure if I'm saying the correct things here, so feel free to correct me. It's been a little while since I was really active on this forum, so I'm not sure what has changed.

[davejh]

If you rate the level of network stress by how close the recent block size is to the 1M cap, I would agree we are stressed. I think the large block size could be a result of high difficulty. Miners are finding it difficult to solve blocks as quickly as before. While they take longer to solve the block, they add more transactions and hence the increase in blocksize.

One problem that no-one has mentioned here is that in many respects it doesn't matter how large the theoretical block size limit really is, it matters what the block makers choose to accept. Right now, for example, most will only mine up to a maximum of 750,000 bytes even though the protocol allows 1,000,000 bytes (the default is 750,000 but can easily be changed). Some block makers are still using much smaller values, however.

The reality is that if pretty-much all of the major mining groups (many of which are privately held and therefore cannot be influenced anywhere near as easily as public pools) decide to keep 750,000 bytes, or adopt some other arbitrary smaller limit, then it doesn't matter if Gavin or anyone else changes the protocol to allow 20M bytes or 20G bytes, blocks will still be handled exactly as they are right now.

In practice mining 20M blocks isn't going to make any sort of sense for miners without something like the IBLT change that's also under consideration as otherwise the risks of losing an orphan race when announcing a very large block compared with another miner announcing a much smaller one will dramatically outweigh any theoretical advantage in terms of fees (which are already too low to be of any real interest anyway; larger blocks will push them down).