Re: Transaction fees grow 1300%

Quote from: freightjoe on November 21, 2017, 06:42:50 AM

The data is very clear. In the past year transaction fees have grown more than 1300%:

https://blockchain.info/charts/cost-per-transaction?timespan=1year

a year ago it was less than 5$ per transaction, now we are close to 70$ on average.

The number of transactions increased ,the bitcoin price increased as well so it`s normal for the transaction fees to increase.Anyway,this chart doesn`t explain anything.What is this 68 USD cost per transaction?
Is this the cost to send 1 bitcoin to some other address for a set amount of confirmation time?
If yes,then 70$ is less then one 1% of the bitcoin price,which is quite normal.