Post
Topic
Board Development & Technical Discussion
Re: Who is paying very very large fees when not needed and why?
by
LoyceV
on 17/07/2021, 08:05:07 UTC
Which algorithms/user see this, see a total mempool of under 0.3 vMB, of which more than half is paying less than 3 sats/vbyte, and decide pn fees of over 100 sats/vbyte? What a waste of money.
Those algorithms are what pushes up fees so quickly once blocks are full. If a block is filled with 1 sat/byte transactions, you could get priority over those by paying only a little more (say 1.1 sat/byte). That could lead to a very slow increase of fees (1.2, 1.3, ...... 2.0), but instead it quickly goes to 10, 50, 100 and more. I don't mind people wasting their money, but they drag others with them too.