Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
The mempool has already been over 10MB for two days straight. We are looking at a permanent and growing backlog of transactions.
Check http://cointape.com
Tell me those who are waiting, how much they are paying in fees.
To help you with the math: 1 satoshi = $0.0000040927
From what I see, most want to pay <30 satoshi per byte with a lot of transactions being in the <10 satoshi per byte or 0 satoshi.
Most txs right now who are waiting, are paying <0.05$ - with the bulk paying <0.02$
First block inclusion is at 0.08$ right now.
Such Fullblockalypse... Very fees... WOW
This is just the beginning. In the future, we'll have to throw in fees and HOPE they are high enough for our transactions to be included. That makes it impossible to build a business model because of the unknown variable.
As a miner, would you rather get a 26BTC reward @$600/BTC or a 35BTC reward @ $200/BTC? This may not be a hypothetical question.