Quote from: HeRetiK on July 23, 2018, 02:56:08 PM

Quote from: stompix on July 23, 2018, 02:15:54 PM

So can you explain why during June 20-24 when BTC was at 6600-6000, the fee was on average 2.50$ while now, with BTC over 7500$ the fee is on average 0.70$ Huh

Price has nothing to do with the fee, stop saying that...

That's what happens when people still think in fiat terms Wink

While I wouldn't say that the price has nothing to do with the fee (ie. everything else being equal, BTC @ USD 300,- was cheaper to send in fiat terms than BTC @ USD 6,000,-) it definitely is one of the lesser factors as seen during the December 2017 mempool congestion.

Because right now fiat value is all that matters.
As long as a coffee will cost 0.6 mBTC today and 0.3mBTC tomorrow nobody will care about what the price is in satoshi.

Some pools right now block any tx lower than 5sat/byte, that's barely 10 cents, but if BTC goes to 1 million and those 5sat/byte will mean 12$ do you think everyone will keep on saying is just 5sat/byte?
People tend to say that bitcoin increases in price so the fees go up but it's the same when it goes down when they rush to dump coins to exchanges.

No, usage is the main factor behind the fees, and LN will prove this once for all....hopefully
I really don't want to experience 20$ per tx.