Post
Topic
Board Development & Technical Discussion
Re: Can congestion in bitcoin price be controlled?
by
BlackHatCoiner
on 28/06/2024, 11:27:06 UTC
Lets not forget that Litecoin, like many other altcoins, is a copy of Bitcoin so it is performing exactly as Bitcoin.
It is not performing exactly as Bitcoin. There's clearly more on-chain competition for Bitcoin block space, and that's why it comes more expensive.

The min fee is 1 sat/vb and it spikes just the same if its usage grows.
The minimum fee is not 1 sat/vb. That's the minimum relay fee. And it just happens to be the same with Bitcoin. If the competition for Litecoin block space was the same as with Bitcoin, then the respective fee rate should be 8260 sat/vb (826 x 10 bitcoin-sat/vb), because of the exchange rate (1 BTC = 826 LTC). Or, if Bitcoin block space was as scarce as Litecoin's, the respective fee rate should be 0.001 sat/vb (in Bitcoin).