Quote from: pakhitheboss on Today at 08:51:05 AM

Quote from: RapTarX on January 01, 2024, 03:56:37 PM

In the past, it was temporary I guess although I had no idea about the fee market before 2019. I heard that there was a spike in the fee back in 2017. But this time, you know what's causing it & we are likely to see the spike every now & then. That's not something good I guess. That's going to create more problems in the coming days.

We know the reason for the congestion and given time the hype will go down. I deel that it is a temporary problem and we would see the fees coming down. It is not that I am okay with the high fee. I guess no one here is the forum is happy, we need to have patience and avoid small transaction if possible for now. LN is not an on chain solution but it is the answer for anyone looking to do small transactions at low fees.

Disagree with the "temporary problem" view. Firstly, the problem continues for over a year already with no end in sight. Secondly, the root cause of the problem is the modified incentive structure under Segwit and Taproot. Spammers exploit the witness discount and will keep doing it given the evedence that it has been effective. Miners benefit from the situation short-term (at the expense of other Bitcoiners) so they wouldn't drive the change (Ocean.xyz is the only exception). Other participants are decentralized so it would take them some time to coordinate the effort to fix the problem (the imbalanced blockspace cost structure that put original transactions at disadvantage and favour spam - video explainer: https://youtu.be/WtrBlQJktxg ). This is the permanent situation that original transactions are being outpriced by spam until a fix is introduced by Bitcoin node operators (you and me and fellow Bitcoiners)