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Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: sirty143 on March 02, 2024, 05:33:23 AM

Title: From Low to High — Bitcoin Fees Jump Over 129% in 4 Days
Post by: sirty143 on March 02, 2024, 05:33:23 AM

From Low to High — Bitcoin Fees Jump Over 129% in 4 Days

After a short period of diminished onchain network fees, the expense of sending bitcoin has begun climbing once more, hitting a midweek average of 73.3 satoshis per virtual byte (sats/vB) or $11.48 for each transaction. Currently, a backlog of 207 mempool blocks is pending... See more for yourself here (https://news.bitcoin.com/from-low-to-high-bitcoin-fees-jump-over-129-in-4-days/).

Your opinion is greatly appreciated.

Title: Re: From Low to High — Bitcoin Fees Jump Over 129% in 4 Days
Post by: ABCbits on March 03, 2024, 10:38:07 AM

Considering Bitcoin.com past history, i wonder if they have specific goal when writing this news. https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#3m (https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#3m) (which used by the news) also calculate average from all TX which include transaction TX with big size and overpaid fee, which may give false impression that $11.48 needed for fast confirmation on regular-sized transaction (1 input and 2 output). Anyway, it's not surprising since this problem usually happen when Bitcoin price rise a lot in short time.