Interesting things with the Bitcoin Mempool while I puff on some Cookie Jar
The mempool has been clearing rapidly over the past few days. I mean RAPID. This confirms my spam theory, that the only reason we have a conjested mempool and high fees on bitcoin is because of malicious miner spam. This is in my opinion the biggest reason for the crypto bear market. Everyone is focused on futures, and that may play a role in the overall financial manipulation, but it's not the futures contracts itself causing it. It is instead the fact that people who saw it coming pushed the price up too high before they came out, so a larger than normal crash was inevitable. We may not be done going down yet, but I feel we should bottom around the time the mempool clears, which could be in a few days possibly. It's getting interesting
Holy crap, hadn't noticed at all that the mempool is going down. Fucking finally...And oh... let's see what happens on 26th when the futures contracts end ;)
I watch it closely, it's more important than price to me.
Yeah same for me mostly, just haven't had the time now as it's stagnated around that 170k txes for too long.
https://dedi.jochen-hoenicke.de/queue/#all
The fact that we look at the # of transactions just demonstrates how much this whole community lacks an understanding of the bitcoin protocol. I look at the mempool in terms of data size, since the transactions are processed in blocks which have data caps, so all that really matters is how much data is in the mempool.
With blocks being processed roughly every 10 minutes and including 1 mb of data, the network can process 144 mb of data per day. It's fine for the size of the network until it comes under heavy malicious miner spam. As soon as that spam stops, the mempool clears, quickly, which indicates that normal network traffic is minimal and scaling isn't even necessary at this point if it wasn't for malicious miners.
Very nice looking buds. Never had cookie jar tho
It's good. A kushy Girl Scout Cookies
Happy days, thats some nice bud too bro!
She’s a beauty 😍