101 block backlog in Bitcoin after Segwit 91 Activation!
HODL on everyone things might be getting rough in cryptoland! After more than 45 minutes without a block created we are potentially seeing a backlash from miners! Now we are seeing over 100 MB backlog in the Memory Pool (what holds the transactions waiting to get confirmed in their first block). With current Block Size limited to 1 MB that means we have transaction over 100 blocks out before they get a single confirmation!
The biggest issue is with over 34,000 transaction backlogged and a potential for a huge drop off in mining power do to the mutiny over BIP 91 we might see Bitcoin hang for weeks.. Bitcoin re-adjusts the difficulty target every 2 weeks, so a huge decrease in mining power will cause the network to grind to a halt!
Remember the target block generation time for Bitcoin is 10 minutes, so over 45 minutes right after a big change (BIP 91 activating) is concerning to say the least!
Follow me, resteem this post, up vote and keep in touch as we navigate this storm coming!
Check out my other post regarding this: https://steemit.com/bitcoin/@bigdeej/is-bitcoin-stalling-last-block-30-minutes-ago-bitcoin
It just gets more and more exciting by the day. At first BIP91 is a good thing, now things like this is coming out. Rollercoaster alright. I am HODLing though and will buy on dips. Thanks for sharing.
Regards,
@steemitph
Agreed I am ready if it dips to buy more! Feel free to follow and resteem to share with others! I'll do the same!
eh.. we had plenty of days with a 150,000+ transactions backlog.
(http://www.newsbtc.com/2017/05/12/bitcoin-network-backlog-grows-165000-unconfirmed-transactions/)
also, what is wrong with the mempool size, if you look at the size of it past year?: https://blockchain.info/charts/mempool-size?timespan=1year
are you trying to create some FUD? ;-)
Yeah spreading fud like HODL ;)
This miner stuff is pretty wild, I just barely understand it, ty
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STOPUpvot Me i really upvote you back