Post
Topic
Board Bitcoin Discussion
Re: Bitcoin network fee, worrying sign?
by
lonerangerh
on 05/05/2023, 20:54:48 UTC
Sorry for another topic about the recent issue going related to bitcoin network congestion but I really want to know that Bitcoin ordinals so called NFTs is really going to change the fee required for the transaction in the future?

Because I didn't witness such kind of clog since 2017 but by that time there is no segwit, exchanges are clogging the network purposely and so on but later for so many years the fee issue isn't really there but all of a sudden we have to pay over 100 sats for over transaction to get into the block may create a bad image and it will create the FUD and may initiate the price drop.
Back in the day when Bitcoin was not very popular and NFT was not around, there weren't many users, so the fees were low and there were no network congestions.

But now that the popularity of Bitcoin and NFTs has grown tremendously, there are a lot more people searching for and using them, which is causing the network to become congested.

Moreover, new projects that mint NFTs or offer presales on the first-come, first-served basis require people to set high gas fees to increase their chances of getting a slot.