Post
Topic
Board Bitcoin Discussion
Re: The fees are crazy, 420 satoshis/byte, WHY?
by
kingcolex
on 17/05/2017, 08:55:33 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?



Wow 420 time for the weed references.
But to answer your question too many transactions occurring and not enough space to process the transactions at 1mb.
https://en.bitcoin.it/wiki/Block_size_limit_controversy


Yes and I would like to add that the cause of this is network spamming. There is someone out there who is constantly spamming and flooding the mempool to slow Bitcoin transactions down. Some say it is Roger Ver the others say it is Core's doing.

Whoever it is I can imagine him doing the evil villain laugh everytime he starts spamming.

Core people want to keep the status quo with 1MB blocks, spam the network would work against them
That's not true though, core has been trying to push Segwit, and also don't forget we have miners who even though there is a back log they are mining empty blocks because they are fucking trash.