Tx spam by Bitfury supported timestamping service


174k txs with about 25 Sat/bytes, mostly mined by BitFury. Current requried tx fee is about 200 Sat/Byte.

Those are one of those spammers who are causing the issues that many txs get stuck for days and people cannot trade in a reasonable time (we fix that by dynamic tx fees in the next version).

Miners are earning their money not by providing security to the network but by external payments, is it for badly implemented time stamping services, censorship attempts like MIT Chain Anchor, short term profit by ASICBOOST and blocking protocol improvements or other motives which are not unmasked so far but which can be guessed with a bit of imagination.

The economics of mining has failed so far.
Monopolies and incentives from short term profits are certainly not signs for a healthy game-theoretical/economic model.
There will be some less radical options beside the change of PoW, but I think it is time for action.


The problem is that every time an algorithm is made idiot proof, someone invents a better idiot.

Altcoins are the future now, even the core developers have given up on trying to service the smaller BTC user.


Altcoins will run into the same or worse problems. As long as being relevant life is easy.

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