Now that transactions go through for 1 satoshi (LOL) can we agree we survived a Serious Attack by CoinBase/al.?

Seriously, we are at 1 satoshi now. Even 0 satoshi go through. Free.

The only reason the mempool got so big is Coinbase and other pump and dumpers which try to push their bitcoin ca$h garbage on everyone. Bitcoin Ca$h has zero reasons to exist anymore. Remove the spam attack and 1MB, combined with segwit and lightning, is plenty enough.

But what pisses me off the most is that the most recent 2,000+ satoshi thing is 100% an attack on the bitcoin protocol. Maybe newbies saw the high fees and just assumed it was normal. It's not. A few players pushed a lot of spam transaction to clug up the mempool so fees would spike, in an attempt to KILL bitcoin. Period.

All in all, bitcoin survived yet another attack to kill it, perhaps the 100th since it was created, and we should be happy about that. Coinbase et al. (I mention coinbase a lot because it was revealed they clugged up 50% of the mempool alone!) failed and probably ran out of cash at some point.

So let's raise a glass to Bitcoin surviving another attack.

Submitted January 28, 2018 at 11:43PM by fscomeau http://ift.tt/2GsmDI0