Post
Topic
Board Beginners & Help
Re: 50k is exciting
by
Luzin
on 13/02/2024, 02:56:08 UTC
The fees spike is understandable due to the decentralized nature of Bitcoin and will occur with every change in the price, but such a spike will not affect the fees in the long term because it will be in less than 60 blocks and the fees will return to normal after several hours. The continuity of the spike will be due to things like injections, which we seem to be responsible for causing high fees so far.

In your estimation of the appropriate fees, although the recommendations on mempool.space are useful, but if you take a deeper look at mempool, it will save you more fees.

Of course, I always use the mempool to transact. Mempool is quite helpful. But there is something I am worried about, when the price reaches the new ATH later. There are concerns that transaction fees will cost me. The problem that the Ordinal network has entered a saturation period has made transactions return to normal. I feel happy with this condition even nowadays 12sat/VB is quite cheap price. If later Ordinal is crowded again and ATH comes, I don't expect transaction fees will not reach the new ATH. Although actually these miners can also deliberately strengthen the network to increase fees so that they get a lot of benefits.