Re: [May 2024] Fees are low, use this opportunity to Consolidate your small inputs
I don't think that's how it works: the highest paying transactions in a block are much more expensive to replace than the average. To get the entire block, you must outbid the highest fee.
Pools can easily choose what transactions they want to include based on their requirements if there is enough demand for those and they see they can have either a full block at 10sat/vb or 99% of it at 1sat/vb and one tx at 100sat/vb they can choose the largest one, plus with income this low no pool will refuse and extra 5k on the block with a behind the curtain deal, remember that these are extra money they will not pay the miners for it
- $6k isn't nothing. It's $6k for just 10 minutes. That's $864k for one day with clogged up network, and that's without taking into consideration the fact that some people will simply choose to pay more than the spammer.
Oh, it might look for us as much, but when you take into consideration how many we are in this world and how some spend money it becomes peanuts. Ordinals have in the first wave managed to keep fees above 30sat/vb for 4 months, that's two years of tx at 5sat/vb and let's not forget that once the fees go down there are also genuine transactions and consolidations happening.
And even one block a day, that's close to 1% of the capacity, imagine the headlines and how much Bitcoiners would laugh if a kid were able to cut 5% of Visa capacity in day with $30k.