Post
Topic
Board Bitcoin Discussion
Re: Mempool Observer Topic
by
Poker Player
on 03/02/2024, 16:33:00 UTC
I think we've definitely made progress in lowering fees on Bitcoin.

Until some morons arrived when the fees were at 30 sats/vByte for confirmation in the next block and dumped about 8-10 transactions paying an average of 500 sats/vByte. How can someone be such a moron?

So I sent a transaction at about 30 sats which was what mempool.space gave for confirmation in the next block, and between that it has taken about 30 minutes to confirm and the next one has also taken a while, I look at mempool.space again and now if you want a quick confirmation you have to spend 553 sat/vB. That is if we don't have more morons overpaying fees. I bet miners are happy because 10k transactions at about 500 sats/vB is about $300K in fees.