Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

Quote

https://www.reddit.com/r/Bitcoin/comments/490dyi/serious_question_if_raising_the_max_block_size/d0o35r1
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...out of the 235,000 transactions only 90,000 are actual regular transactions. 61% of the transactions currently being mined are long chain spam transactions. So less than half of what is included in all those 1MB blocks is useless junk....

if there junk why are miners including them in blocks?

to get the fees

the TX themselve are probably all junk tho.

Actually, at levels like 0.2 - 0.3 btc per block, fees too are junk yes. Hence the presence of 0 tx blocks.

Personally I'm currently mining with -blockmaxsize=0. My connectivity is not that good so it'd take me a couple secs to upload a full block and then it would take some extra time to propagate, so I can't risk losing 25 btc for peanuts.

oh ic you must be F2Pool

I'm not a pool and my hashrate is tiny so there is no guarantee I'll find blocks. I'm actually conducting a quantum experiment where consciousness interacts with hashing in order to ...generate hashing collisions and do so spectacularly against the odds. So if the experiment succeeds (in a universe of infinite possibilities it has already succeeded) it would be a tragedy if I found a block and have it get orphaned because of my slow upload speed or other propagation and verification delays. Maxblock 0 it is then...