Is it that the higher we see Bitcoin price the higher the fee? Because I noticed that ever since Bitcoin price hit $30-40k the fees has never been the same, who's to blame for this current issue and what seems to be the solution?
I'm going to scan the rest of this thread to see if there's a solid answer to that, as I've been wondering about the cause ever since the first time I saw the network super-congested with fees sky-high. I've always chalked it up to high volume during times of price volatility, like during bull markets with severe dips and such. Usually fees don't jump to the roof when the price falls (though I could be mistaken on that), so I'm puzzled.
But either way I'm so fakkin' tired of this shit. You can't send $25 worth of bitcoin without paying nearly half of that in network fees in order to get your transaction confirmed in a reasonable amount of time. It's crazy.
There are several causes for this, but the growing acceptance and usage of Bitcoin is one of the primary ones. I think it wouldn't be incorrect to state that the higher the price of Bitcoin, the higher the fee because as more people troop into the Network and utilize the it, the demand for transactions rises and so do the fees. It's more appropriate to point the finger at the structure of the Bitcoin network than at any one person or organization. Though there have been some suggestions for remedies, such as the Lightning Network and others but the problem still persists.