Recently Bitcoin fees were crazy high. I was paying about 3-5 bucks for a transaction and now it's dropped to around 20-50 cents. Anyone else notice this? Shoutout to the miners for clearing out the blocks though.
Not surprising. If you’re in this for a while, you know that the mempool fills up during wild price swings. People just don’t wanna wait and they keep raising the fees. Anyway miners still make good profit from block rewards, even if fees are low.
Yeah, I remember when fees for miners were through the roof back in the Eth days. I mean, 2 coins for block rewards and fees were in the hundreds sometimes. Those were the days.
Isn’t it mostly Ordinals that filled up the mempool? Seems like the hype has fizzled out a bit. Now that fewer people are trading them, other transactions can finally make it through.
Check out mempool.space to see how transaction fees change. Yeah, during congestion, you’ll see high fees. Bitcoin’s 1 MB block size means it can only fit a limited number of transactions. If you want to pay less, your transaction will just take longer to confirm.
Depends on who you ask. If you’re a user, you’re probably happy about lower fees. But miners? Not so much. The fees pre-Ordinals were way cheaper. I used to get transactions confirmed for like 2 cents.
Definitely a pattern. High fees during volatility, then they drop when things calm down. More buying and selling during crazy times leads to congestion, right? And the Ordinals added more noise to the network.
People are generally happy no matter the price direction. If BTC drops, newcomers jump in without spending too much. If BTC rises, those who’ve held get to cash out. Can’t lose either way.
No way Bitcoin needs its own NFT system. People already complain about running full nodes. Bitcoin is meant to be a ledger for currency, not a storage space for random stuff like pictures and contracts.
Honestly, these Ordinals are just a joke. Bitcoin wasn’t made for storing junk like JPEGs. It just makes fees skyrocket for everyone else. Can you imagine how bad it’ll get in a bull run?
Totally agree, but without legal action, there's not much to be done about scams. It’s like people want to waste money just to brag. It’s the same as those fancy food pics online. People just clog the system.
That fee spike seems intentional, thanks to Udi and the Taproot Wizards. They’ve got a bunch of people paying overpriced fees for some fake token. It’s a coordinated attack on Bitcoin.
Lol yeah, can’t believe Logan Paul bought an NFT for so much and it’s now worth next to nothing. But if nobody puts it up for sale, how can we know its real value?
Now's a great time to consolidate or make small transactions. When the market goes wild, fees surge. I won’t pay more than a few sats. If it doesn’t move, I just wait.