Crypto 360°

heartbreaking, embarrassing, demotivating is what's happening now..

how is there any hope for BCH to survive, please tell me

submitted by /u/justfathi
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source https://www.reddit.com/r/btc/comments/itsjbi/heartbreaking_embarrassing_demotivating_is_whats/

BCH falling against bitcoin?

https://preview.redd.it/9b4cait6dhn51.png?width=1720&format=png&auto=webp&s=272cf4f13bccf30d274eab36853e8832105e6aba

submitted by /u/edwin_case
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source https://www.reddit.com/r/btc/comments/itseiz/bch_falling_against_bitcoin/

Fun with low fee TXNs on Mainnet

Here's a 0.493 sat/vB TXN I put on mainnet today. You'll have to use the SoChain block explorer to see it though. I give it a 3% chance of getting confirmed, but we'll wait and see. The TXN is a donation to Addy@Bitnodes since I use their seeder for my network herder.

SoChain: 9c753076428ec9ae79da919fa227db44a2a28841af3ce38669686141f2590293

So last month, I voiced the unpopular opinion that node operators should lower the minrelaytxfee setting to allow low-fee TXNs to propagate more freely throughout the network. Then I asked why miners weren't mining 0.999 sat/vB TXNs during idle periods since it should be more profitable than mining no TXNs at all. Finally I wrote a node herder to walk the network looking for node operators that were running minrelaytxfee below the default (1000 sat). After walking about 26% of the network, turns out about 5% of nodes are allowing low fee TXNs.

So in that vein of discussion, I decided to just sign some low-fee TXNs and send them to the 5% of nodes I found and see what happens. To my surprise it showed up on one of the 23 block explorers I tried after broadcasting it. Surprisingly, that comes out to about 5% of explorers accepting low fee TXNs as well. So hopefully 5% or so of the miners will confirm low fee TXNs. We'll see.

BTW, to do this, this is what I did.

Pair my HW wallet to Electrum
Use the paytomany Electrum API to craft a TXN below 1 sat/vB
Import the TXN to sign in Electrum
Ran a full node with minrelaytxfee set to 1 sat (0.001 sat/vB)
Walked the network to find a good number of low-fee peers
Use bitcoin addnode API to herd my node to the low-fee peers I discovered.
Use bitcoin sendrawtransaction API to broadcast TXN

Wait and see if it can propagate to a miner and if a miner will accept it.

BTW, there is a PR to lower the minrelaytxfee in core, but it's dragged on for years. The setting was lowered about every year or so in the early days, but hasn't been touched for many years now.

submitted by /u/brianddk
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