Post
Topic
Board Bitcoin Discussion
Re: What's happening with Bitcoin transaction fees?
by
taufik123
on 06/12/2023, 23:59:41 UTC
-snip-
It is quite volatile as well, sometimes it is getting closer to 100 s/, but then it jumps up again towards 200 s/b. Now I am asking myself for how long this might be going on. When there is a lot of action in the market, it would not be surprising if it stays like this for a while. Sad
Even I used 113 s / b some time ago still long enough to be confirmed, had to wait about 6 hours more and was forced to raise the Gas fee even higher to be confirmed immediately.

Using Electrum and Increasing transaction fees with RBF will be very useful.
Using a wallet that supports RBF can solve transaction congestion, but with the consequence Gas costs will be more expensive but prioritized.
RBF allows you to rebroadcast similar transactions at a higher cost if the original transaction crashes, so you can try sending a transaction at a very low cost and then raise it several Satoshi at once until it is confirmed.

And if you ask until when this congestion will occur, of course until all transactions are confirmed all and BRC20 Ordinal is the main problem on congestion.
But now because of Bitcoin's quite drastic rise as well, so the cost is increasing.