Post
Topic
Board Bitcoin Discussion
Re: Some of bitcoin's aim and purpose have been trampled upon
by
tbct_mt2
on 10/11/2023, 11:02:03 UTC
Bitcoin's transaction fees have changed. Bitcoin promised financial freedom and unrestricted commerce. Bitcoin's essence looks eroded by high transaction prices caused by network congestion.
Blocks are found like normal, average time is about 10 minutes.

https://bitinfocharts.com/comparison/bitcoin-confirmationtime.html#3y

No sudden spike of block time and I disagree to call that Bitcoin has a network congestion. There are more transactions waiting in mempools and Ordinals trigger transaction fee race that make transaction fee more expensive than before February 2023, when there is no Ordinals, Inscriptions.

I see this expensive transaction fee time is not good for everyone but if we can wait, we can have confirmed transactions with lower fee rates because hype, FOMO can not last forever.