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I didn't realize that Bitcoin's transaction fees had dropped enough to make this somewhat feasible: https://ycharts.com/indicators/bitcoin_average_transaction_f

• gruez 5y ago
  what changed? Usually when there's a run-up in price, transaction fees skyrocket. I always thought it was from all the people transferring to exchanges to cash out, but why not this time?
  • kaetemi 5y ago
    More systems have been switched over to the segwit native addresses, which have cheaper transactions. A simple transaction can be as low as 30ct nowadays.
    • gruez 5y ago
      Under the best case comparison (legacy P2PKH compared to native segwit), segwit is only 50% smaller. Under more realistic comparisons (P2SH segwit vs native segwit), the difference is much smaller. Is a 100% increase in transaction volume (more realistically I estimate 50%) enough to make the network go from congested with sky high fees (I remember periods where the clearing rate was 200+ sat/byte) to almost zero congestion?
  • neb_b 5y ago
    The lightning network is getting more popular. More people are using that for smaller transactions