Does people actually know that transaction fees over the Bitcoin network has been cheaper than their favorite alts recently? Okay every Ethereum user is probably aware of this but how about those Doge fanatics? It takes 1-2 Doge to send a transaction which is more or less $0.50 to $1 based on current price. Even the BSC network has been congested lately and standard gas price went up to 9 Gwei from the previous 5 but I read that some people had to add more spending over $1 for their transactions not to be rejected.
Earlier today, I was able to send BTC at 3 sats/vbyte but I know the fee went even lower than that. That's less than $0.50. It's already back up to $4 but my point is that some people are probably still stuck to the notion that BTC transfers are always expensive. They don't realize they are spending more on their altcoins.
It is true but I wonder until how long will the BTC fee be as competitive as they are now compared to alts? It is the truth so far, and in this case BTC fees by comparison to ETH are peanuts, but then every other transaction is good relative to ETH. The point is that some networks become better while others didn't anticipate the congestion leading to a disaster - ETH and BSC are both examples of how bad they are at dealing with congestion. Earlier today, I was able to send BTC at 3 sats/vbyte but I know the fee went even lower than that. That's less than $0.50. It's already back up to $4 but my point is that some people are probably still stuck to the notion that BTC transfers are always expensive. They don't realize they are spending more on their altcoins.
This matter really is stopping people from getting involved as they'd need to spend hundreds in fees and then the price needs to double or so to just recoup those before making any profit. This whole things just needs a major update and FAST.
