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?
