Quote from: Kryptowerk on Today at 04:33:37 AM

Quote from: dragonvslinux on Today at 04:10:10 AM

Quote from: Artemis3 on May 07, 2023, 05:04:19 PM

To add insult to injury:

Binance suspends bitcoin withdrawals due to network congestion...

This news is always irrelevant. Binance should just offer their clients withdrawals based on the current estimated cost and time, like they usually do. They are just trying to "protect" their customers from paying high fees, which in reality isn't protection at all. It's usually just a CZ-based attempt to encourage users to withdraw via Binance chain imo. Nothing more than a selfless plug.

As for the current topic, have read a bit more into the whole "ordeal". I still see nothing wrong and only high demand. I get that it can be frustrating for average users wanting to make transactions to either have to wait or pay high gas fees, but if you're going to use Bitcoin, you should be aware that this can be the case. As I said before, otherwise use Lightning network. Ideally this will help drive further adoption.

Also on a selfish note the last month or so has been pretty boring for Bitcoin imo. This actually makes it more interesting in my opinion. Miners must be having a blast with transaction fees per block that have higher than the 6.25 block reward. I did used to think that it was possible that block rewards going so low could reduce hash rate growth over-time, so looks like this situation has removed that theory.

Wtf, is the "halt-of-BTC-withdrawals" still going on? This is, as you pointed out correctly, total nonesense. They should just offer different fee options for withdrawal (long waiting time, low fee, medium fee, medium waiting, high fee, high priority), with maybe a warning prompt for newbs to make them understand that the current transaction situation is most likely a temporary thing. Just make sure they understand their withdrawal amount justifies the fees that come with it.
Not allowoing withdrawals at all is a heavy restriction in everyone dealing with Bitcoin on Binance.

Just to clarify, they did re-enable withdrawals soon after, I referenced it here: https://bitcointalk.org/index.php?topic=5451901.msg62211924#msg62211924

So if you're willing to pay 0.001 BTC ~$28 then it's all OK. As far as I can tell they otherwise removed the fee option that I think they used to have, unless I'm mistaken. Maybe this is just temporary until the mempool clears, as they replaced the pending transactions with higher fees, so probably want to avoid doing that again as I imagine costs some unnecessary amounts of money.