Post
Topic
Board Bitcoin Discussion
Merits 6 from 4 users
Re: Bitcoin's transaction fee lowered by 4000%
by
stompix
on 14/02/2020, 13:05:41 UTC
⭐ Merited by mprep (2) ,avikz (2) ,Debonaire217 (1) ,malevolent (1)
But for today, we can see its effect since the transactions of this time is somehow the same with 2017.

No, the number is not the same a the peak in 2017



https://www.blockchain.com/en/charts/n-transactions?timespan=all&daysAverageString=7

Those 50k transactions mean everything.
You have a maximum capacity that is not used currently, there are still blocks that are not full

617358   1.234.954 bytes
617357      753.964 bytes
617356   1.306.193 bytes
617355      943.467 bytes

When that capacity is reached fees will go up, and it all depends on how much the capacity might be exceded.
If it's only by 1% then people it won't affect the tx too much, just that some will start batching their transactions and stop spending dust, if it goes to 100% then expect an increase to the same levels as 2018. Although that would also come with more LN adoption.

20 fee for transaction. Are you sure? I dont remember that

Yeah, it was even worse for a brief period