@flyosity Save that one for her high school virtual reality hall of memories.
@_vjy Sure - but a lot of user frustration is due to the threshold for “spam” constantly changing and wallets not handling it gracefully.
@GreggDourgarian @ryanxcharles DoS attacker can’t run it forever - the resources aren’t free. They just angered node operators.
The denial of service attack against Classic nodes over the weekend appears to have backfired. pic.twitter.com/jBPYWFZbLc
@bergalex Eh? I don’t recall anyone claiming that it would be smooth sailing through new economic waters.
@SouperNerd Hm, I’m not sure there has historically ever been a fee market such as this… but I’m not an economist.
RT @BitGo: Experiencing stuck bitcoin transactions? Don’t know why? Read @lopp’s excellent post on the subject: https://t.co/Zh0KX0JqV3
@WhalePanda @SouperNerd Onus is on the wallet devs to fix their software.
@WhalePanda @SouperNerd Yes, I’ve been saying that for months. But there’s no way to simply alert every Bitcoin user.
@WhalePanda @SouperNerd Users with wallets that set default fee as 0.0001 BTC are SOL; it’s not necessarily “spam.”
@MrHodl @SouperNerd I don’t think it’s users being miserly so much as wallets not handling the fee market more gracefully.
Signs of fee market frustration on /r/bitcoin pic.twitter.com/c7CSqWdYGf
@kristovatlas Well, you know with whom you can take up that concern!
@kristovatlas Indeed; it’s supposed to encourage people to think!
@fluffyponyza It’s one of the most common “reasons LN will fail” responses I got yesterday after my LN article.
If you think the Lightning Network is doomed because all routing nodes will need AML/KYC, you’re not cypherpunking hard enough.
@netkn0t “should” according to the market perspective - if we build systems with lower costs & fees, hopefully will incentivize adoption.
Happy Leap Day!
Mempool size is 28MB
Avg fee is 14 satoshis / byte
Recommended fee is 40 satoshis / byte
Seeing 5+ tx/s - mempool is growing
@netkn0t It’s not always good or bad, I’m just saying people have become conditioned to paying fees as percentages of value transmitted.
@netkn0t The fee to send value should be connected to the cost to send value. Which it is in Bitcoin, but not in traditional networks.