From a DNM vendor around since Silk Road 1 days, let me tell you all a little secret that none of you seem to talk about here regarding the cause of fee’s lately.
Drugs. Drugs drugs drugs and more drugs.
I have been watching this bitcoin industry for just a smidge shy of 5 years. I have seen the ups and the downs the scares and the joys. I have watched several phony developers try to hijack the bitcoin client.
But none of you are recognizing that most of the fee pressure comes from darknet markets; most especially from DNMs like AlphaBay that has a built in mixer and causes 20-50 + transactions …….
……….FOR A SINGLE WITHDRAWAL.
Now you may think that these markets are smart, and they would use good fee estimation to not create unneccessary artifical fee pressure since they are responsible for the lions share of bitcoin transactions daily….
No. No they do not. I just went through a 35+ incoming transaction single withdrawal for under 2 BTC and checked each and every tx to see how many satoshis per byte they are paying.
Not every tx, but a lot of them. Some of them were as low (low my arse) as 450 satoshis per byte.
These fucking admins are paying 10 times as much satoshis per byte as is neccessary right now. Im watching fee's under 40 satoshis per byte confirm in 1-4 blocks.
I did a test transaction through blockchain.info earlier today, recommended fee was 49 cents. I would like to congratulate /u/blockchainwallet for finally adding sanity to their fee estimation.
Great job BC team. You guys are helping ganja vendors save big bucks on transactions! Shoot me a address and i will mail you free weed. Seriously…..
So im not so sure its this Roger Ver assclown wasting his money on fee shit. I know he has before, and maybe he is now, but there's other stuff you all are not thinking about…..and you should be.
You have 100s of thousands of transactions every single day coming out of DNM's that are being rated around 550-600 satoshis per byte. All so fucking drug addicts can get their shit as fast as possible.
Bitcoin needs SEGWIT now so we can stop this ridiculous donkey show where us weed venors are getting fisted by fucking mexican donkeys.
Jefferson said do not sacrifice security for expediency. So all you uneducated fucks who are trying to force a hardfork on the network and stalling the network from fixing the goddamn problem the solution was designed to fix, fuck you. You created this mess.
Its your dirty fault fee's are high, supporting these chinese miners who are the poorest of poor having spare 100's of millions of dollas to throw away at a POW change. Poor poor miners! And what about the bitcoin quadrillionares like Roger ver? Who will cry over fee's when the person who is the last motherfucking idiot on the planet who needs to worry about it cries we need to get rid of the software developers who offered a open source fix for a problem!
How dare they try to solve the issue! Lets block them and make things worse so poor green-machine has to pay goddamn $200 for a single withdrawal from alphabay.
In summary; SW now, ya'll are dumb for not realizing that the totally way off the fucking radar fee shit-estimation is caused by darknet markets catering to opiate addicts who need their fix or they will sweat balls and piss their assholes.
Want to make a change? Ask these fucking markets to fix their stupid assfuck mixers. Im tired of paying for 50 transactions at 10 times the cost it needs to be because your fucking cousin larry likes to snort oxycotin.
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….I tried to sign a message so you all know its the real me and not a fake. Though if you look at my post history you can see my flair or posts on the alphabay sub so that should tell you im really me. Looks like my signature gets fucked up on reddit. Looks like reddit sucks for pgp?
Submitted June 12, 2017 at 12:07PM by Green-Machine-
via reddit http://bit.ly/2tb4kj9