Post
Topic
Board Bitcoin Discussion
Re: Mempool Observer Topic
by
franky1
on 17/01/2024, 04:38:36 UTC
And yet, some people insist there is no conspiracy against BTC to bump the fees... Roll Eyes

the spammers are creating transactions of 112 vB to pay 52sat/vb

yet the average real byte transaction length divided by fee of others (blocksize divided by total block fee) puts everyone else at a
333byte tx paying the bumped 52sat/vb meaning everyone else is paying 3x extra compared to the spammers

the other thing is, because the spammer bump fee in 10sat increments instead of 1sat
means everyone else cant just bump by 1sat to compete, but instead also have to bump by 11sat+ to outbid spammers
which causes the average fee to jump quickly

even core do not believe people should be bumping by 1sat increments so cores default GUI fee mechanism bumps in 5sat increments

with the market price of bitcoin being more then 5x of the days core decided on the 5sat increment. they should review and close the gap and bring it down to 1sat increments.. just like their predecessors did when markets stepped up in previous cycles
thus allowing users more control and less leaping to higher fee's so quickly