I wanted to discuss a thing that I noticed for a long time but didn't ask.
Sometimes I notice that some people replace their transactions with fees like 1000 sat/vB even though the recommended fee was around 100 sat/vB. Their previous fee was already enough to include their transaction on a block but it was waiting to be included in a block. But the person keep bumping it from 500 to 600 sat/vB and then 600 to 1000 sat/vB. Should I call them dumb people?
For example, look at the image below
Dumb people, I don't think so...Sometimes I notice that some people replace their transactions with fees like 1000 sat/vB even though the recommended fee was around 100 sat/vB. Their previous fee was already enough to include their transaction on a block but it was waiting to be included in a block. But the person keep bumping it from 500 to 600 sat/vB and then 600 to 1000 sat/vB. Should I call them dumb people?
For example, look at the image below
Considering the mechanism of Bitcoin transactions is based on next block confirmation is given to the highest bidder, it's actually a smart way to ensure high fees are maintained...if anything this whole Ordinals spamming the network could be a smoke screen in my opinion.. What if miners were involved in artificially pumping of transaction fees to make some money while the business is lucrative
I know this could be an unpopular opinion but mining isn't cheap and this is one possibility to pay themselves!!
Besides if this was something like beginners mistakes, why doesn't this happen with other blockchains??