What happened on Dec 18/19?

Playboyize
Playboyize

What happened on Dec 18/19?

Other urls found in this thread:

medium.com/@CobraBitcoin/thoughts-on-bitcoin-as-a-settlement-layer-c40cc1415815

Methnerd
Methnerd

Chinese miners

Burnblaze
Burnblaze

I'm not talking about the slight drop in total size dummy, I'm talking about the lower fees completely vanishing

Booteefool
Booteefool

mempool reached size limit, dropping lower fees transactions

likme
likme

after 2 weeks they get dropped and you have to rebroadcast the transaction.

My guess they Spammed BTC with low fee BTC transactions to stall it.

viagrandad
viagrandad

Good info, thanks

Spazyfool
Spazyfool

Don't listen to the corecuck. Difficulty increased and the blocks were already full so miners began requiring even higher fees

Inmate
Inmate

The mempool literally melted

Burnblaze
Burnblaze

That would not lead to the change shown in the graph dummy

takes2long
takes2long

Holy shit it’s over 40$ Tx fee now.

BunnyJinx
BunnyJinx

CoreCucks

Illusionz
Illusionz

I love how retards think that as long as the market price goes up, bitcoin is "winning".
All the biggest stores have already abandoned crypto. It's worse now than in 2014

Dreamworx
Dreamworx

My guess they Spammed BTC with low fee BTC transactions to stall it.
This is not necessary to stall the BTC Chain. There is a limit to how much information and thus transaction can be processed by the BTC blockchain per second, and due to the influx of new users over the last months and the increasing mining difficulty (higher mining difficulty + same hash power = slower blocks = lower tx/s), the queue of transaction has been steadily increasing in size since around 25 days ago or so up to this point.

Bitcoin core has a maximum of 300mb worth of waiting transactions before old transactions start getting kicked out. Yes, that's 300 blocks waiting time. It's insane.

tl;dr: 1mb blocks every 10 minutes (difficulty adjustment always re-aims for this every 2016 blocks) naturally leads to a stalled blockchain when the blockchain is too used.

haveahappyday
haveahappyday

Just cleaning up the spam.

hairygrape
hairygrape

if I'm not mistaken mempool reached the size limit, so cheapest transactions get discarded

VisualMaster
VisualMaster

Dude, the yolo swag hype beast clothing stores are all starting to accept bitcoin. Adoption and use in Japan keeps rising, theyve always been the main force though.

Fuzzy_Logic
Fuzzy_Logic

BZC's platform is finished, it's like one of the only 20 crypto's that has a finished platform.
Go buy your "We promise it'll be done by 2025" coin.

Harmless_Venom
Harmless_Venom

are all starting to accept bitcoin
1. The trend has reversed in the last few months
2. They're a piss in the ocean compared to for example Steam dropping bitcoin

lostmypassword
lostmypassword

Half of BTC addresses have less BTC than the average transaction fee.

Nojokur
Nojokur

lol

iluvmen
iluvmen

A kind of emergent deflation that these coins are now effectively non-existent lol. Another move of Bitcoin Core 4D chess alongside with people having trouble cashing out when bitcoin goes downwards because it takes over a day to get to exchanges. At this point the vast majority of people who would otherwise hold it in wallets will never interact with the blockchain at all and just hold it on exchanges and have /credited bitcoin/. Kind of like how poorfags will never use low block size fee market BTC even with LN network having its topology figured out because its cost prohibitive to send BTC to a personal wallet after buying and cost prohibitive again to set up a payment channel to one's megahub of choice, so they'll end up just paying a megahub that offers banking services to get "credited bitcoin in an account", and then we have a potential fractional reserve need-to-trust-banks system all over again.

Bitcoin core's plan is a meme.

Even some big dick bitcoin cash bashers are starting to figure out how deplorable the bitcoin core plan for scaling is.
medium.com/@CobraBitcoin/thoughts-on-bitcoin-as-a-settlement-layer-c40cc1415815

JunkTop
JunkTop

I hope they release LN soon so I can dump the pump.