Quote from: taufik123 on December 06, 2023, 02:05:30 PM

Quote from: NewRanger on December 06, 2023, 01:25:31 PM

Maybe, Fee fees really depend on network density and each exchange also has different withdrawal fee policies. However, if we look at the current conditions, fee fees are only increasing. I tried to test sending BTC which was worth approximately 20 dollars if converted with the requested fee of $13.55 it's already over 50% percent and it's very unnatural. At least, like you said, hold on.

Let's take a look at how the price of Bitcoin continues to soar, this of course will also affect transaction fees for Bitcoin, because the network is getting denser and many transactions need to be confirmed.
But if the increase in transaction fees is due to the increase in Bitcoin or bullish this will only happen temporarily.

Rather than the increase in Bitcoin transactions due to BRC20, it is worse because BRC20 clearly accounts for a lot of transactions so fees are getting more expensive.

See the picture below, Bitcoin transaction fees are indeed increasing

https://bitcoinfees.net/

Reminded me of the transaction fees last 2017 where the fees were almost as high as what it is a few hours ago (currently it's already at $3).
If I remember correctly, transaction fees of Bitcoin in 2017 went to as high as $20 or even higher. This time, the highest that I saw was at around $17.

TBH, I don't know when this will end, and this also reminds me of the NFT hype a few years ago where transaction fees under the Ethereum Blockchain were so insanely high that it came to a point where the transaction fee was higher than the price of the NFT. Overall, I guess the thing that we can do is either wait or pay high gas fees if it's urgent. Using other coins might be a good solution as well.

As for me, what I'm doing is I still put low gas fees instead of paying higher fees because I know that it will go down soon. 40 sat/vB is what I always use when I'm transferring, and even though it takes days for it to be confirmed, it's not urgent so it's still Ok for me. F*ck these ordinals who are making these fees very high.