Quote from: mpoletiek on Today at 08:08:58 PM

Quote from: coolcoinz on Today at 07:54:14 PM

What's an extremely high fee? What's high for you may be low for someone else.

In 2019 the average fee was around $1
In 2021 it was $2. In 2023 it went up a bit again, but stayed around $2.5.
I don't count extremes where due to congestion it skyrocketed above $20, which happened in 2018, 2021 and 2024.
What makes you think the fee will be much higher in the coming years? The history points towards a slow and gradual increase. You can still send a $2 tx if you want and it will go through.

I guess that's debatable, but I'm reluctant to say that a $2 fee is acceptable for a cup of coffee. That being said, I think Justin Bon's is saying that as the amount of rewards per block decrease TX fee's will continue to increase and must replace the miner's revenue from mining blocks otherwise they will exit the ecosystem. Current block sizes and a reduction in miners producing blocks will also increase TX fees?

I don't know if you are aware of Lightning Network (LN), it's a second layer protocol that is being developed for small and micropayment transactions like for a cup of coffee. Here is a good introduction,

[All Lightning Network Threads In One Place.

I'm not sure who is Justin Bon's though, but we all know that fees are dynamic and recently there was a deliberate attack that's why the tx fees goes as high as we have never seen before. But guess what, now it's back to normal, and so those kind of attacks are not sustainable, and it will cost a lot of money to them or the project that they have created have died down already.

You can also check the tx fees here: https://mempool.space/