Here we go again....

A 10 minutes ago a few blocks were mined and right away, some automated ordinal system created 2000+ ordinal transactions on the next Mempool Block 1.

3 minutes after latest block found.
https://www.talkimg.com/images/2024/01/09/s1ubT.png

5 minutes after latest block found.
https://www.talkimg.com/images/2024/01/09/s1AHl.png

5 minutes after latest block found on Mempool Block 2
https://www.talkimg.com/images/2024/01/09/s1Hs1.png

https://www.talkimg.com/images/2024/01/09/s1S9m.png

I seriously can't make this stuff up.

One of the best Ordinal Dashboards I'm using to view Inscription traffic, for those that are interested in the matter.

https://dune.com/cryptokoryo/brc20

Wouldn’t that just make it worst? Whatever system that are creating these ordinals can just create an inscription wall at 50sat and if no mining pools confirms them, that means all future rate fee will always be more than 50sat.

All I know is that the community literally just handed over everyone’s private keys to the mining pools, now that they can control rate fees, which hashes gets confirmed, exclude certain wallets, black listed address, etc… I know it’s decentralized and we can all create our own nodes, but we are so far behind in game, we would have a better chance getting hit by lightning, after riding a train that just got derailed, while boarding after surviving a plane crash. Basically .00000001 chance of mining a block.

For all we know this ordinal system, could be using a pay it forward mechanism, which whatever ordinal transaction was mined from the previous mempool block, it must create the same ordinal transaction on the next mempool block 1. In this case, no one loses and $, as it’s a pay it forward system only when it drops to a certain rate fee. Then when the network gets congested again, every mining pools wins and go through this never ending cycle each time it gets to a certain rate fee threshold. We are screwed basically. At least clear out mempool first, because there hundreds of millions USD unconfirmed right now. At least balance the inputs/outputs before regulating what the rate fee will be moving forward. Talking to all you lobbyist that got this approved due to capitalism and no longer supporting decentralized finance.

I updated the first image link, thinking I figured out how to make them appear.

Updated IMG link here
https://www.talkimg.com/images/2024/01/09/sVGqj.png

Thanks mate

Wouldn't that just cause the next block to always have the same rate fee, if the mining pool managers ignore inscriptions? Since those spam ordinals don't get confirmed, it will always remain in mempools next block with the same rate fee.

If you look in mempool, there is about 6,000 ordinals (filter by Inscriptions) between 30-35 sat/vb. Its like a buy wall of ordinals that keeps getting passed to the next block, because the mining pools are not accepting them to their block when found. This is tricking rate fees to always be 35sats or more, because of this wall of ordinals no one will confirmed on the block sitting between 30-35sat/vb. If they don't confirmed them, rate fee will always be more than 35sat/vb.

I updated my original post and replaced "miners" with "man". I didn't mean to stir the pot and create another overly exhausted debate regarding the network congestion.

This was purely comedy, as this meme was based off another funny meme. A meme within a meme. If you didn't find the meme funny, as I did. My apologies and feel free to tag it for removal.

Whatever the cause is... I'm sure the bitcoin community is already fully aware of it and hopefully the 250,000+ unconfirmed hashes in mempool will eventually get confirmed.

I didn't mean to imply Miners, I should of just said "Man, Him, They".
I didn't realize how popular inscriptions are... historically the past 3 months its been even 50/50 split between hash and inscriptions. craziness how popular they are.

bitcoin ordinals inscriptions analysis

@dgtl_assets/ Per Block Inscriptions

https://dune.com/queries/2145510/3518029

Wow, I didn't realize about 25-50% of each new block height are ordinals inscriptions, no wonder why the network has been busiest than ever lately.

I have no opinion in the matter. I just thought it was funny so I decided to share.

But whoever are creating these spam ordinals are on a mission... Every time a new block is mined, within seconds are roughly 500-1000 new ordinals created instantly with a rate fee higher than the previous.

Example of an wallet address that created 250-500 ordinals right after new block was mine for the past 3 blocks mined.

https://mempool.space/address/bc1pzm6grdvyuytv753ew7qv0gf79dytcduecq66szwjgnd8zq7pghkqn6lwad

It might be a coincidence, but this was purely a meme I thought was funny.

I came across this meme and its too funny not to share. Miners are creating spam ordinals to create fake traffic jams each time the rate fee drops quickly 

https://www.talkimg.com/images/2024/01/07/s3w4G.png

Thanks for confirming for me! That makes total sense now.

Example #1
https://mempool.space/address/bc1qw2acyf9x2gtnxlydwf3e4rgw9fxgaxnm2jr4mu
1110 transactions for 13 cents each to the same wallet, why wouldn't you just sent the total amount once to the wallet to save on transaction fee?

Example #2
https://mempool.space/address/bc1plh4au35n0t4c7fdjnyr8s6m7krr2ddp5cxg747s5lmpnjrsrks9smu7ucz
Sending 23 cents transaction over and over again to the same wallet with the rate fee of $7.45USD for each one...

Example #3
https://mempool.space/address/bc1qy5g5tdx2evg3v5f4rj90f6amhy92gtam39n0hc
over 50,000 transactions sent, but the total amount is 20x less than is rate fee? So they are basically losing input, while sending all the micro outputs to the same wallet address. Just sent 1 total amount to the wallet, instead of 20,000?? no?

These type wallets are contributing to the network congestion on the bitcoin network and was hoping someone can give me more insight about them or why they are creating all of these micro transactions to the same wallet constantly.

Thanks

Yes, I sender. Its actually a company.

I have gone back and forth with coinbase and the sender, and neither of them are giving me any assistance and blaming it on the other.

The sender is actually saying, since coinbase owns the private keys for their coinbase.com exchange wallet, they are using an automation process, where all incoming hashes with 2x over the current average rate fee and include it to their CPFP transactions to help their inbound hashes that were sent with low rate fee and are stuck in mempool. They claim that the transaction with 500 unconfirmed hashes belong to coinbase exchange wallet that are stuck in mempool and used my hash with very high priority rate fee to leverage those hashes.

Coinbase Support says they do not support any transactions, unless they are confirmed on the blockchain. They also said they do not apply any hash changes when sending to any of their wallets.

Whoever added CPFP to my transaction knew exactly what they were doing. They even went as far as to adding a Locktime to the transaction so that it didn't get confirmed on the next block, giving them enough time to create a new CPFP transaction.

Only if there was only a any to view who those 500 unconfirmed transactions belong too... that would help my investigation.

I guess as of right now, I have no choice but to wait till it either gets confirmed on the blockchain, pay for miner pool assistance, or wait till gets dropped from mempool.

Thanks everyone for all of your insight on this issue. This has helped me understand the real scope of this stuck transaction.

Merry Christmas everyone!

To pay .025 BTC still doesn’t offset the hash, im waiting for.
I’m waiting for the total amount of .0186 BTC, so in this case I would be losing $.

I don’t understand why the sender would be sending me unspent unconfirmed btc, that defeats the purpose of have a payment sent to me with high priority.

I guess the only solution is to wait till the effective fee rate gets to -17sat/b, as I doubt it will ever get purged from mempool.

I had sent it sent directly to coinbase.com exchange, because I had plans to converting it to SOL. I'll never make that mistake again.

Since I sent it directly to coinbase.com and they own those private keys, would it be possible that coinbase is leveraging my hash with high rate fee to get other low rate fee hashes confirmed?

This is the hash id b5411a3c59d1472b5627b423355564cc26fc1345fee435f0665299f637c1d286

I checked the accelerating fee and it would cost me $3,000, which is over 3x the amount that I sent to coinbase.com exchange. So basically there is not I can do, but to wait or it gets purged from mempool.

So I just spoke to the sender and they didn't send the transaction to me with CPFP or unconfirmed hashes.

No one seems to know how my transacation got included with the CPFP hashes.

Are there any other tools I can use to do some investigations?

I sent it to a coinbase exchange

This is a coinbase wallet, so I don't have access to the private key.

So the sender is using unconfirmed spent transactions to send my transaction? How is that even possible... would it be possible that coinbase is using CPFP on my transaction, since it came with high priority rate fee and they own my private key?

https://www.viabtc.com/tools/txaccelerator is currently offline.

https://cpfp.djbooth007.com/ says it would have to pay $250USD, but I still don't understand why I have to pay additional payment to get my hash confirmed. The sender sent it directly to me with high priority. It has nothing to do with a Child or Parent. I'm also using a coinbase custodian wallet address, so I can't even create a new raw transaction.