Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
If I look at the last eight blocks (395,151-395,158) I see that 16,093 tx were processed for a fee of 3.08 BTC. That's 0.000191 BTC/tx or USD 0.0766 . I'm not sure how much zero-fee transactions are in there, but with an average of 7.7 cents, how much higher should the minimum fee bee in your opinion?
The average is problematic because there are some guys who are paying A LOT of fees without actually needing to pay them:
https://bitcoinfees.21.co/
Anything above 50 satoshis/byte right now is overkill, yet some are paying >100 satoshi/byte which distort the average, while a lot of txs are in the 0, 1-10 and 11-20 satoshi/byte categories.
I'm more concerned about 0 and 1-10.
10 satoshi x 250 bytes = 2500 satoshi for a normal tx = 1 cent.
Yeah, I say fuck them. Some countries even stopped minting 1 cent coins altogether due to the coin metal and minting costing more than 1 cent
