Re: Binance is spamming mempool

I believe that the image is actually showing the Minimum Withdrawal amount, not the Withdrawal fee, which on the Bitcoin network is 0.0002 BTCs (3,39 $).

Ive gone over some of the recent achieved pages on TheWayBackMachine, and at least since May 2022, BTC fees are the same on the Bitcoin Network (no so on other chains):

https://web.archive.org/web/20221113214837/https://www.binance.com/en/fee/cryptoFee
https://web.archive.org/web/20221006095230/https://www.binance.com/en/fee/cryptoFee
https://web.archive.org/web/20220813163621/https://www.binance.com/en/fee/cryptoFee
https://web.archive.org/web/20220512162950/https://www.binance.com/en/fee/cryptoFee

I rechecked Binance website and you're correct. It looks like Binance doesn't show whole column if your browser width is too small and they didn't "freeze" the column name which caused mistake. The actual fee are 0.0002BTC for "Bitcoin" and 0.0005BTC for "BTC(SegWit)". Even so, it's still rather expensive and discriminate towards user who have SegWit address.

Withdrawal fees increases, or decreases in Binance depending on network congestion, and because it is said that Binance is spamming the mempool, causing congestion, I change me opinion. It wouldn't be truly paranoid to say that they're doing it on purpose to stop a bank run. But we don't want another bank run. It's probably good to slow everything down for a few days and stop make everyone calm.

Whatever you think why binance is doing this, i would call this a shady move. We know they have a lot of bitcoins and they can do anything from hunting stop losses to now spamming mempool. Some people might get confidence that since funds are moving in binance, means this exchange can be trusted to keep your funds in this exchnage.