Post
Topic
Board Bitcoin Discussion
Re: Miners are happy, while we suffer?
by
kemoglo
on 25/05/2020, 18:44:08 UTC
Fees are high because volatility is too high. A lot of traders are sending bitcoin to and out exchanges... this always happens.

But you can still make transactions with low fees. I made a transaction recently with 10 sat/byte that was confirmed in a few hours. You just need to be patient.

Miners are not making a lot of money due to halving. Fees are just a small part of the reward:

look this block for example
https://www.blockchain.com/btc/block/0000000000000000000e64f2f8a06ffeb03cb4a597fdcb11f43ee9bf16decbc3

Block Reward
6.25000000 BTC
Fee Reward
0.13771274 BTC

I got sent about $500 with 4 sats/byte, it took a whole week to clear, but it cleared! Low fee transactions are definitely still possible, just manage your expectations for clearing times Smiley