Bitcoin Mempool Grows as Miners Switch Over to Bitcoin Cash

The Bitcoin network has dealt with congestion before on multiple occasions. In every single case, the network seems to suffer from major backlogs when it comes to processing transactions. Previous mempool issues have often been the result of spam attacks, but things are very different right now. With over 160,000 unconfirmed transactions at the time of writing, things are not looking all that great for Bitcoin. The network hashrate also continues to drop, which isn’t helping matters much.

Bitcoin Mempool Issues Surface Again

Most people know all too well how the Bitcoin network often gets clogged up. Every time this happens, people try to include higher transaction fees in the hopes of getting their transfers picked up by miners a lot quicker. Right now, that seems to be pretty futile, as there isn’t enough hashpower on the network to make things go quicker. A lot of miners have switched over to Bitcoin Cash in the past few days.

This issue has been brooding for several days, mind you. While the Bitcoin network hashrate was high enough a week ago, things have certainly changed in favor of BCH right now. More specifically, this change has been present for a full day already and will only grow worse over time. Right now, this altcoin’s absolute hashrate is over twice that of Bitcoin itself. Without sufficient miners, the block difficulty will remain extremely high until the next automatic change occurs.

Given that the Bitcoin mining difficulty changes every 2,000+ blocks, this problem may persist for some time to come. It is far too profitable to mine Bitcoin Cash right now, which means there is no reason for people to switch back to Bitcoin right now. In fact, it may provide them with an extra incentive to keep mining BCH, depending on their political orientation. At the time of writing, Bitcoin Cash was 165% more profitable to mine than Bitcoin, and it will continue to be for some time to come.

It is doubtful anything can be done to alleviate these mempool concerns either. There is no point in paying higher fees right now, as it will only make the situation worse. Miners have always been rather selective when it comes to processing transactions, and that situation will only become more prevalent. In fact, diehard Bitcoin Cash supporters will gladly point out that Bitcoin Core developers created this mess in the first place. Sadly, they are not entirely incorrect in that assessment.

Over time, the mempool will continue to grow unless either miners return to Bitcoin or the block difficulty is lowered significantly. Forcing the adjustment is a last-ditch resort, but it may be warranted before things really get out of hand. Some people may argue the 2,000 block retarget mechanism is vastly outdated anyway, as we have seen several altcoins introduce novel approaches in this regard as of late. It will be interesting to see what the Core developers have up their sleeves in this regard.

All of this goes to show there is a need for big changes as far as Bitcoin is concerned. While Bitcoin Cash may not necessarily have all of the answers from a long-term perspective, it is evident that it is doing some things right. It will be very interesting to see how this entire debacle plays out in the long run, as the current situation is not sustainable whatsoever. If both communities came together to create a better Bitcoin, the world would look very different. Unfortunately, that is a highly unlikely outcome.

  • Flaim

    This is very old news. Like over 1/2 a day.
    The hostile miners have given up losing money for an evil cause and have come back to the real BitCoin.
    It’s already down from 160k to 100k and catching up.

    • Rafael Ladeira

      Attacking #Bitcoin Playbook:
      1. Create altcoin thru hardfork with EDA
      2. Pump altcoin price
      3. Spam BTC’s mempool
      4. Divert hashrate to altcoin
      5. Push up BTC fees
      6. Have companies delay/refuse to implement SegWit to keep fees high and help narrative
      7. Point to BTC high fees constantly
      8. Hope users abandon BTC and switch to altcoin because of fees
      9. Claim Core is fired
      Bitcoin Cash is not Bitcoin. Bitcoin Cash is Bitcoin Cash.

      • Flaim

        well said

      • Reu Scherf

        Agreed, bitcoin isn’t here to be paypal.

      • BenRickert

        Unfortunately your whole premise is void because your blind partisanship precludes you from seeing the facts. All you myopic, blind, BTC slaves see every legitimate fundamental challenge to BTC as a conspiracy propagated, by the dark evil forces at BCH. It’s a type of mental illness really. If it spreads sufficiently it will actually kill BTC. The changes he speaks of in is writing are real and they are driven by market forces. Not Darth Vader or whoever else you paranoid idiots attribute it to.

        • AtoZ

          “BTC Slaves” . Dear God, BCH is a hard fork of BTC with a larger block. Cut the hyperbole, the scheme failed. BTC has lots of issues, it needs bigger blocks in the short term, and BCH is ran by a criminal who has more experience selling explosive grade fertilizer than development.

  • Rafael Ladeira

    Attacking #Bitcoin Playbook:
    1. Create altcoin thru hardfork with EDA
    2. Pump altcoin price
    3. Spam BTC’s mempool
    4. Divert hashrate to altcoin
    5. Push up BTC fees
    6. Have companies delay/refuse to implement SegWit to keep fees high and help narrative
    7. Point to BTC high fees constantly
    8. Hope users abandon BTC and switch to altcoin because of fees
    9. Claim Core is fired
    Bitcoin Cash is not Bitcoin. Bitcoin Cash is Bitcoin Cash.

    Credits: Fernando Ulrich

    • Cryto Cuy

      It seems BTC is too fragile, don’t you think

      • BenRickert

        Yes and it is too myopic and set in it’s ways. In this space if you are not versatile and bold you will die. BTC is in the process of committing suicide ala Napster. Having network effect is very important but it does not guarantee a seat at the head of the table.

  • Evan Hidalgo

    Bitcoin Cash just broke out of a falling wedge, its heading up, I think its going to pump hard with the EDA today and BTC will start dumping from 7000 down towards 4900. That will skyrocket the BCH/BTC chart price. Lets make some money

  • Gabriel Kawa

    They will come back when bitcoin cash falls and until then we wait patiently

  • blockTorque

    Huh? Bitcoin has the majority of the hash power back. Yet another failed attack