Re: Ordinal blockchain irking me, causing almost $40 median fee now...
...
mempool.space
I don't want to spend $40 to consolidate here. I guess I'll just have to wait. And wait & wait & wait???
Maybe only a much higher BTC price will stop those ords from infesting the mempool....
mempool.space
I don't want to spend $40 to consolidate here. I guess I'll just have to wait. And wait & wait & wait???
Maybe only a much higher BTC price will stop those ords from infesting the mempool....
I can't see a direct correlation between the Bitcoin price and the "ords infecting the mempool".
Do you really think that a 70-80K USD Bitcoin price would miraculously lower the transaction fees on the blockchain?
A higher price means that the short term demand for BTC increased, which means more BTC transactions on the blockchain and more transactions mean higher fees and longer confirmation time. Off chain solutions like the Lightning Network still can't get mainstream adoption.
Removing the ordinals from the blockchain would most likely lower the amount of transactions(and the fees), but the miners want higher fees and more revenue.