Post
Topic
Board Bitcoin Discussion
Re: The fees are crazy, 420 satoshis/byte, WHY?
by
mikey5287
on 17/05/2017, 00:44:54 UTC
According to https://bitcoinfees.21.co/, it needs 420 satoshis/byte to get fast confirmations.  Anyone know why the fees are going higher and higher?

http://savepic.net/9301554.jpg

This happens when there are a lot of unconfirmed bitcoin transactions. As of right now, there are over 200,000 unconfirmed transactions. You can check for yourself here: https://blockchain.info/unconfirmed-transactions

The more transactions there are, the higher recommended fees are going to be.

That's why.