{"id":3990,"date":"2023-05-07T10:32:08","date_gmt":"2023-05-07T17:32:08","guid":{"rendered":"https:\/\/jasonsblog.ddns.net\/?p=3990"},"modified":"2023-05-08T08:13:16","modified_gmt":"2023-05-08T15:13:16","slug":"bitcoin-mining-power-down-mempool-full","status":"publish","type":"post","link":"https:\/\/jasonsblog.ddns.net\/index.php\/2023\/05\/07\/bitcoin-mining-power-down-mempool-full\/","title":{"rendered":"Bitcoin Mining Power Down, Mempool Full"},"content":{"rendered":"\n<p>The Bitcoin mempool is full, currently 45 blocks worth, and mining power has been taken offline during a time when it&#8217;s very lucrative which you&#8217;d have to conclude is suspicious. Supposedly the transaction increases are due to <a rel=\"noreferrer noopener\" href=\"https:\/\/nftnow.com\/guides\/bitcoin-nfts-ordinals-inscriptions-explained-finding-buying-more\/\" target=\"_blank\">Ordinal Inscriptions<\/a>, a form of NFTs and brand new technology for Bitcoin. I&#8217;ve never seen the appeal of NFTs, but its conceivable that there could be good future use cases. Consequently, you can&#8217;t even get a low fee transaction included into the mempool right now even if you don&#8217;t mind waiting, and if you need one to complete soon you&#8217;ll have to pay a high fee to the miners (230 sat per Byte). Eventually people will get tired of paying so much to experiment with the new technology, and below I&#8217;ll include my own personal Bitcoin Explorer screenshots from my Bitcoin\/Lightning node along with a glimpse at the mining summary. <\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"692\" src=\"https:\/\/jasonsblog.ddns.net\/wp-content\/uploads\/2023\/05\/bitcoin-1024x692.png\" alt=\"\" class=\"wp-image-3991\" srcset=\"https:\/\/jasonsblog.ddns.net\/wp-content\/uploads\/2023\/05\/bitcoin-1024x692.png 1024w, https:\/\/jasonsblog.ddns.net\/wp-content\/uploads\/2023\/05\/bitcoin-300x203.png 300w, https:\/\/jasonsblog.ddns.net\/wp-content\/uploads\/2023\/05\/bitcoin-768x519.png 768w, https:\/\/jasonsblog.ddns.net\/wp-content\/uploads\/2023\/05\/bitcoin.png 1174w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"555\" height=\"321\" src=\"https:\/\/jasonsblog.ddns.net\/wp-content\/uploads\/2023\/05\/bitcoin3.png\" alt=\"\" class=\"wp-image-4000\" srcset=\"https:\/\/jasonsblog.ddns.net\/wp-content\/uploads\/2023\/05\/bitcoin3.png 555w, https:\/\/jasonsblog.ddns.net\/wp-content\/uploads\/2023\/05\/bitcoin3-300x174.png 300w\" sizes=\"auto, (max-width: 555px) 100vw, 555px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"799\" src=\"https:\/\/jasonsblog.ddns.net\/wp-content\/uploads\/2023\/05\/bitcoin2-1024x799.png\" alt=\"\" class=\"wp-image-3997\" srcset=\"https:\/\/jasonsblog.ddns.net\/wp-content\/uploads\/2023\/05\/bitcoin2-1024x799.png 1024w, https:\/\/jasonsblog.ddns.net\/wp-content\/uploads\/2023\/05\/bitcoin2-300x234.png 300w, https:\/\/jasonsblog.ddns.net\/wp-content\/uploads\/2023\/05\/bitcoin2-768x599.png 768w, https:\/\/jasonsblog.ddns.net\/wp-content\/uploads\/2023\/05\/bitcoin2.png 1160w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>The Bitcoin mempool is full, currently 45 blocks worth, and mining power has been taken offline during a time when it&#8217;s very lucrative which you&#8217;d have to conclude is suspicious. Supposedly the transaction increases are due to Ordinal Inscriptions, a form of NFTs and brand new technology for Bitcoin. I&#8217;ve never seen the appeal of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-3990","post","type-post","status-publish","format-standard","hentry","category-tech"],"blocksy_meta":[],"featured_image_src":null,"author_info":{"display_name":"Jason","author_link":"https:\/\/jasonsblog.ddns.net\/index.php\/author\/jturning\/"},"_links":{"self":[{"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/posts\/3990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/comments?post=3990"}],"version-history":[{"count":9,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/posts\/3990\/revisions"}],"predecessor-version":[{"id":4008,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/posts\/3990\/revisions\/4008"}],"wp:attachment":[{"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/media?parent=3990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/categories?post=3990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/tags?post=3990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}