There has been a backlog of transactions sitting in the mempool and high mining costs in recent weeks, making it difficult for users to interact with the Bitcoin network . In May 2023 a torrent of NFTs and BRC-20 meme coins joined the network making “ordinary” Bitcoin transactions more difficult to fit into blocks . Since the present scenario has affected some individuals negatively the question “Is Bitcoin under attack?” has been making the rounds in online forums, newsgroups and social media .
People Have Different Opinion on Bitcoin’s Situation
The Bitcoin community is still divided about whether or not there has been an assault . Recent facts and occurrences are the subject of speculation .
Calle, a company that creates Lightning Network-related products tweeted in jest about the issue early on Monday morning (August 8), writing “Speak attack one more time” with a picture of a character from a Quentin Tarantino film brandishing a gun .
Although this is the case, software developer and miner Con Kolivas has posted a thread in which he boldly declares “Make no mistake . For all intents and purposes this seems like a well-planned assault .” One example he gives of this “coordinated attack” is the recent influx of NFTs into the Bitcoin network .
Meanwhile, “Mike in Space,” the man behind the Bitcoin Stamps says that a restriction on NFTs in Bitcoin Core upgrades in the future would be the true assault . This notion first appeared on Crypto Twitter .
Some Think That Bitcoin Should Only Be Used for Monetary Transactions
A spam attack or denial of service attack is an attempt to disrupt or otherwise damage the service of an electronic system by flooding it with a large volume of unsolicited data making it impossible or very difficult for authorized users to access .
The concept of “legitimate user” is unclear and somewhat arbitrary in a decentralized and non-permissioned network (which does not need permission or authorization from a central body) like Bitcoin which is why disputes arise .
That “the code is law” is an argument made by some . If the Bitcoin protocol supports a certain use case then it must be genuine . However there are many who think Bitcoin should be used only for monetary transactions and that any other use of the currency is improper .