Looks like an attack. We knew this was possible. But how long will tactic this be viable? I
Discussion
Not long with the amount of money they are losing
They can print unlimited money. π€
Ahh but of they mine their owm transactions, it costs them nothing but the overhead. The question is, can they create enough fee pressure to motivate legitimate actors to pay higher fees?
In fact it depends on how much the shitcoiners are willing to pay... If you pay 200$ in fees but selling your jpegs more than 200$ then it can continue forever. I started to consider this as an attack on bitcoin financed by gamblers π€·ββοΈ
Jihan and Roger had to eventually give up in 2017. I give it a few weeks max.
Who would be attacking tho? Are some miners trying to keep the fee floor high by spamming their own mempools and blocks? When Jihan was agitating for higher bloclsize, I seem to recall speculation that miners in China were able to do this.