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Fees were tiny before it hit the block limit. If you look at the stats before the blocks started filling up, the average fee was around 5 cents USD. Massive fee
by dale_glass 5y ago
Fees were tiny before it hit the block limit. If you look at the stats before the blocks started filling up, the average fee was around 5 cents USD. Massive fees only started once the blocks started filling up.
And yup, the deflationary model certainly favors not using it as a currency.
- ashwagary 5y agoSome people relying on 2017 price peak news headlines haven't gotten the memo that fees only spiked temporarily. Fees are currently 5-10 cents to get in the next btc block and most lightning network transactions complete in 1-2 seconds and cost 1 cent or less in fees.