Post
Topic
Board Bitcoin Discussion
Re: The fees are crazy, 420 satoshis/byte, WHY?
by
Xester
on 17/05/2017, 12:17:46 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?



In my opinion that fees are crazy high its because of the increased number of users in bitcoin that causes the flooding of transactions.  When there is a flood of transactions it would mean that the blockchain traffic is very slow and that confirmation will take very long. Higher fees are done by some site so they can get a higher priority so that there transactions could be processed much faster.