Bitcoin DoS Attack Underway?

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In this video, I discuss the full mempools and high transaction fees that are currently taking place with Bitcoin.

Is this a DoS attack, or congestion caused by inscriptions and BRC-20 tokens, or something else?

It's difficult to know for sure, but if this is an attack, it is doing a great job of enriching Bitcoin miners, which is not the best way to destroy the Bitcoin network.

Bitcoin transaction fees are a free market, and vary wildly over time. The alternative is more undesirable (having a central authority set transaction fees).

Are Bitcoin transaction fees too high or too low? And what makes you think that you know the answer to this question better than the free market?

Being able to transact on the Bitcoin network will become one of the most important activities on earth-- and thus will probably not be cheap to do.

This is a good thing, since it means that Bitcoin miners will continue to be paid to order transactions and blocks-- even after the block subsidy has gone away.

Not investment advice! Consult a financial advisor.

Bitcoin under DoS attack?
https://twitter.com/proofofjogi/statu...

Watch blocks and transaction fees here:
https://mempool.space/

Bitcoin Average Transaction Fee chart:
https://ycharts.com/indicators/bitcoi...

Transaction fees making up larger % of mining revenue:
https://twitter.com/DylanLeClair_/sta...

Will Bitcoin's security be doomed by low fees?

• Is Bitcoin's Secu...

Lots of small equal transactions on the blockchain:
https://twitter.com/dAnconiaMining/st...

Binance Resumes Bitcoin Withdrawals:
https://www.coindesk.com/business/202...

USD is a melting ice cube:
https://www.visualcapitalist.com/wp-c...

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.

My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#Bitcoin
#bitcoinmining

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