Bitcoin has been the target of a DoS (a kind of SPAM) attack that renders the BTC network unusable. Could this be the end of $BTC? Is it PEPE and FLOKI's fault?
#threadstorm
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Bitcoin has been the target of a DoS (a kind of SPAM) attack that renders the BTC network unusable. Could this be the end of $BTC? Is it PEPE and FLOKI's fault?
#threadstorm
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Second-layer tokens, on BRC20's network, have created a high demand on Bitcoin's network, significantly increasing network fees.
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#threadstorm
People and governments interested in destroying BTC can certainly use this ploy to try to kill it. A flood of 16 cent transactions paying $4 in fees or more with network fees.
3/ 🧵 #threadstorm
With the network congested Binance announces withdrawal restrictions and BTC loses the $28,000.
4/ 🧵 #threadstorm
A possible solution to this problem is to use Ligtning Newtork to avoid these problems with network congestion.
5/ 🧵 #threadstorm
People and governments interested in destroying BTC can certainly use this ploy to try to kill it. A flood of 16 cent transactions paying $4 in fees or more with network fees.
3/ 🧵 #threadstorm
i figured there was something weird going on there
Not sure if it's an intentional "attack", but it's certainly made the network less usable.
You've got to pay a $20 fee to move $90 worth of BTC onto the lightning network.
And the average monthly salary in El Salvador is like $500.
Intentional attack, I didn't make it clear that that was it! The very Hype of tokens and NFTs in user BRC-20 created this super demand for blocks on the Bitcoin network. I hope this is resolved soon, because the protection of the network is the high fees, which makes the network unusable!
Do you live in El-Salvador?