So as the bitcoin halving went live, the Runes network was launched which uses the op_return option and we currently have $150 transactions fees. As soon as the halving went live we ramped up to 1000 vbyte/sat.
Indeed, there is a noticeable jump in commissions.
Most likely this will cause congestion for the foreseeable future. We might have to turn to an alternative payment method.
Back to discussing alternative payment methods again? So quite recently this issue was raised for discussion, as a result of which the Bestchange manager decided to leave everything as it is.
This problem will pop up with every jump in commission costs. No matter what solution you choose, there will always be dissatisfied people:
- delay in remuneration while commissions are restored to acceptable levels (not everyone will want to);
- alternative payment methods (not everyone will want to);
- leave everything as before (extra burden on the budget).
I hope I am wrong and this Runes hype dies off but people are paying crazy money now to transact with this network.
The hype will definitely pass, but the question is how long it will last, because it will disrupt the “
usual way of life”.
There are other possibilities which could have caused the rise in fees.
Whatever the reason for what is happening, it is time to prepare to search for a solution, because I would not hope that everything will calm down very quickly. If bitcoin goes into a bullrun phase, as many predict, this will create additional load on the
BTC-network. There are more reasons for the
worse than for the
better.
