Post
Topic
Board Bitcoin Discussion
Re: Bitcoin transaction fee just 1 cent for 10,000 dollars
by
Hui8
on 27/03/2018, 04:31:37 UTC
Now the transaction fee has become such lower that we are now able to send even 10,000 dollars for just 1 cent as transaction fee.

Now the transaction volume has gone down to just 135k transactions per day.

Is this change in transaction fee due to segwit activation or due to decrease in crypto hype which is noticed nowadays?

https://www.reddit.com/r/Bitcoin/comments/87819l/bitcoin_transction_fee_10000_for_1_cent_cheaper/

I think it is the change because of low value of the bitcoin. This is the period where people are not selling any coins at the moment so the proportionality factor of mining and sending of transaction has decreased a lot. I am not sure if you have observed already or not but whenever the prices of the bitcoin increase a lot then there is increase in the fees heavily. This increase in the fee is due to increased transactions, as the increase in price makes people to sell more and more bitcoin to grab the profits and so on. This is what happening today but the only thing is, its happening in the reverse way.  Cheesy