Topic: Hurray!!! Bitcoin defeated miscreants again - page 2. (Read 244 times)

That’s a lot, over 650sat/vB, I didn’t actually notice that myself, the most I did was around 100sat/vB on my transactions and that was after I’ve had to bump fees severally and still didn’t get much success with the processing speed of my transaction. Although, at 100sat/vB, there was some progress so, I’m wondering why would anyone go that far to processing a transaction with over 650sat/vB, it’s way high.

The reason behind these fee hikes is no secrete when you frequent the cryptospace and actively transact in between. As alarming as it might have been, we always knew it’s only for a time, just like the various seasons in the market, it’s sure to rise and fall.

Bitcoin was never in any battle even then, so I don't see what the win is all about, anyone that doesn't believe in Bitcoin because of the fee then was raised then they should not be in Bitcoin in the first place. I think newbies should be more aware about how the transactions works I don't this some people actually don't want to pay those fees but they aren't aware that the higher the fee the quicker the transactions would be.

This is a welcome development, although your screenshot shows it on the all-time low that I have ever come across this week. Although I made some transactions a few days ago and sometimes last week at 5–10 saturdays as a transaction fee, this appears to be convenient for me as I proceed with such transactions.
 
The high transaction's fee, which happens back to them because of network congestion or the increase in transaction volume due to the NFt that was being minted on the bitcoin blockchain, made the network unconducive for us all.

This was truly making and breaking the true purpose of bitcoin, as we were unable to use our coin when we wanted to, how we wanted to, as many were looking for alternatives that could help reduce the fee, and those who were willing to pay the high transaction fee were just completing their transactions very fast. It's good to see the fee reducing drastically.

Who wasn't worried about the transaction fee of Bitcoin some months ago should raise up their hands...and the Nay has it...lol

Jokes apart, the Bitcoin transaction situation months ago was a subject of concern for many people especially me since I've not witnessed such ever since I became more conversant with it. This was particularly alarming when people online were complaining bitterly. The situation even took a burden on CMs here and it raised discussions as to the way forward in many quarters. Those who are privileged outside BTT started using alternative coins and tokens to ease their transactions. My transaction stuck for over a month and I could remember seeing a high transaction fee like 650sat/vB.

My research then showed that the problem was primarily due to the demand and supply where Ordinal and BRC-20 present issues which are scalability problems. I even wrote a topic about this when I was kinda angry about the whole thing. It's of course relieving now to see the same Bitcoin that hit 650sat/vB transaction fee now in 2sat/vB a while ago.



I saw unconfirmed transactions above 400,000 at that troubled time, but now the unconfirmed transactions are a bit above 28,100 which I believe will continue to decrease over time. But come to think of it, even at 2sat/vB, we still have over 28,100 unconfirmed transactions, maybe some people don't want to pay any fee at all...lol.

I'm happy Bitcoin shows its reliability once again and has defeated the spammers and those without good intentions. I also share to let beginners know how to calm down if a situation like this presents itself again. Bitcoin will always win.