3 ms·
>They are around $50 per transaction now. Pending transactions with anything above 140 satoshis per byte are currently clearing, as you can see here: https://
by Sir_Substance 9y ago
>They are around $50 per transaction now.
Pending transactions with anything above 140 satoshis per byte are currently clearing, as you can see here:
https://jochen-hoenicke.de/queue/#2d https://jochen-hoenicke.de/queue/#2d
The average bitcoin transaction is around 250 bytes, which means transaction fees in the area of 0.00025BTC and up are clearing in half an hour or less. That's about $4.
Lets keep the hyperbole to a minimum, please?
P.S. As you can see by mousing over that chart a bit, there /are/ a lot of people paying as much as $50 for a transaction. These people are sometimes morons, but more likely they are transacting on exchanges where they have to use predefined fees instead of setting them themselves. This is why it's important to use your own wallet instead of a web wallet. It lets you control these kinds of things.
P.P.S If you set those charts to 6 months you'll see some interesting patterns start to show up. Speculation on what's causing them is left as an exercise for the reader.
- skydv 9y agohm, so things are not so bad after all, but there is no solution in sight to make tx cost under 1$ right?
- tromp 9y agoIncreased use of segwit txs would help to clear the tx backlog. They carry less "weight" and therefor more of them can be packed into a block (which is limited by weight now).
- Sir_Substance 9y agoMore segwit use would improve the situation for everyone, but the major exchanges are dragging their feet on adopting it. There's a lot of politics involved. Some people have vested interests in generating a fee based panic. I don't know the full picture though.
- skydv 9y agothere was a comment on reddit It's what bitcoin core developers prefer. They don't want segwit to bloat the blocksize before lightning is ready.