- fastestFee: 54 sat/vB
- halfHourFee: 52 sat/vB
- hourFee: 48 sat/vB
- economyFee: 12 sat/vB
- minimumFee: 6 sat/vB
Topic: Mempool Observer Topic - page 41. (Read 20342 times)
- fastestFee: 50 sat/vB
- halfHourFee: 45 sat/vB
- hourFee: 42 sat/vB
- economyFee: 16 sat/vB
- minimumFee: 8 sat/vB
Feebuddy is back
I hope I don't get attacked again lol
I hope I don't get attacked again lol
Reward Per Block 3.13+6.94 BTC ($642,310.23) next halving @ block 1050000 (in 209927 blocks ~ 1427 days)
Reward (last 24h) 684.38+1014 BTC ($108,328,460.18)
Reward (last 24h) 684.38+1014 BTC ($108,328,460.18)
Fees have gone down a lot:
Quote
Reward Per Block 3.125+0.8181 BTC ($251,581.15) next halving @ block 1050000 (in 209169 blocks ~ 1420 days)
Reward (last 24h) 456.25+119.44 BTC ($36,730,847.62)
Reward (last 24h) 456.25+119.44 BTC ($36,730,847.62)
Right now they are no longer compensating for the block reward halving, not even close.
Block time is all over the place but on average the fees are below 1 BTC , if it weren't for those huge breaks between blocks that drive up fees (last block had a 40-minute delay) we would probably have constantly touched 30sat/vb there are just 10vMB of fees above 30. But still not low enough!
- fastestFee: 101 sat/vB
- halfHourFee: 84 sat/vB
- hourFee: 70 sat/vB
- economyFee: 20 sat/vB
- minimumFee: 10 sat/vB
Still 150 sats is way too high to be doing normal transactions comfortably (i.e. you are not a hedge fund or exchange doing transactions of 0.1BTC). I regret not doing an atomic swap for Lightning Network sats while I had the chance.
A few days back they were hovering around 45 sats to 60 sats which seems way high as in USD they were coming around $4 to $5 approximately. At the moment 215,077 TXs are unconfirmed which is not a good sign. Bitcoin network cannot handle such congestion and the worst part is that it started just after the halving. A small amount of transaction cannot be made even if the fee goes down to 150 sats as in USD it will be valued around $19 to $ 20 approximately. It is not a good sign and I think as in the past when the transaction fee went down it will again which will take time.
"tHeY hAvE A rIgHt tO uSe bItCoIn tO sEnD vALiD TrAnSaCtIoNs jUst aS mUcH aS yOu AnD I dO"
Here are some suggestions for people who think that Ordinals and Runes are perfectly legitimate on the BTC blockchain :
- Remove the "No junk mail" sticker from your letterbox.
- Automatically redirect the content of the spam folder in your incoming mail folder.
- Stop using the phone filtering options offered by your internet box.
Why ? Well, all those leaflets in your letterbox, all those emails in your mailbox and all those phone calls to sell you frozen foods and sofas are completely justified : they're not doing anything wrong, they're just using communications channels to send valid messages, just as you and I do. tHeY hAvE A rIgHt tO uSe ThOsE cHaNnElS tO sEnD vALiD mEsSaGeS jUst aS mUcH aS yOu AnD I dO.
And for the other people, i suggest you read this article : Bitcoin Filters Work By Default, and That's a Good Thing! (https://stacker.news/items/397842)
Here are some suggestions for people who think that Ordinals and Runes are perfectly legitimate on the BTC blockchain :
- Remove the "No junk mail" sticker from your letterbox.
- Automatically redirect the content of the spam folder in your incoming mail folder.
- Stop using the phone filtering options offered by your internet box.
Why ? Well, all those leaflets in your letterbox, all those emails in your mailbox and all those phone calls to sell you frozen foods and sofas are completely justified : they're not doing anything wrong, they're just using communications channels to send valid messages, just as you and I do. tHeY hAvE A rIgHt tO uSe ThOsE cHaNnElS tO sEnD vALiD mEsSaGeS jUst aS mUcH aS yOu AnD I dO.
And for the other people, i suggest you read this article : Bitcoin Filters Work By Default, and That's a Good Thing! (https://stacker.news/items/397842)
Fees have come down to levels that are no longer so crazy, although 150/180 sats/vByte is too high. I wonder if the 1,000 sats/vByte craze can happen again or was it just because people wanted to put those spam images in halving blocks. I thought that this of the ordinals was a fad that would pass but they have just released a new protocol with these effects.
Still 150 sats is way too high to be doing normal transactions comfortably (i.e. you are not a hedge fund or exchange doing transactions of 0.1BTC). I regret not doing an atomic swap for Lightning Network sats while I had the chance.
Fees have come down to levels that are no longer so crazy, although 150/180 sats/vByte is too high. I wonder if the 1,000 sats/vByte craze can happen again or was it just because people wanted to put those spam images in halving blocks. I thought that this of the ordinals was a fad that would pass but they have just released a new protocol with these effects.
Of course, it can also be because somebody was too keen to do it, didn't know too well what's doing and now he/she may be crying for stupidly spending so much money.
PS. I don't care if it's a whale or not, it's still wasted money for a piece of useless movie clip nobody will care about in a year (or even a week).
PS. I don't care if it's a whale or not, it's still wasted money for a piece of useless movie clip nobody will care about in a year (or even a week).
Since the fee was so high but the transaction size was only 223.75 vB. I think the guy was trying to fill the whole block with that ordinal data but might have messed up and used a link of the ordinal instead of the image itself.
I think he might have been trying to do what happened on block 839855
You don't get art bro /s 
Of course, it can also be because somebody was too keen to do it, didn't know too well what's doing and now he/she may be crying for stupidly spending so much money.
PS. I don't care if it's a whale or not, it's still wasted money for a piece of useless movie clip nobody will care about in a year (or even a week).
TXID: 152b928e97bb9e874da1bd4abdf766ae0cdc7a2f260dad5542967cb414c58489
Why would someone spend 8BTC just to put an Ordinal onto the blockchain?
Why would someone spend 8BTC just to put an Ordinal onto the blockchain?
Cause it's beautiful on explorers:
https://ordiscan.com/inscription/70279589
You don't get art bro /s
Pardon me, but did the halving return the block reward back to where it was?
Nope, it has actually f*** up the counter at bitinfocharts
Reward Per Block 3.13+6.94 BTC ($642,310.23) next halving @ block 1050000 (in 209927 blocks ~ 1427 days)
Reward (last 24h) 684.38+1014 BTC ($108,328,460.18)
Fee in Reward
(Average Fee Percentage in Total Block Reward) 11.03%
Don't know how that thing still shows 11%
Agreed, it is very headshaking. However, small minnows will never understand why whales would spend this much for an NFT. We can only be quite certain this is a presentation of their onchain status and to show everyone that they are rich.
I actually understand this well.
All those who spend these "absurd" amounts do so because they obtained BTC at a very low cost, or through mining in the first 4 years of BTC's existence. Or through purchases made in the same period of time. For those who earned all of this, and didn't sell it at the first ATH that occurred, today you could have hundreds of BTC that allows you to spend without much impact on your financial accounts.
Anyway, in all markets we always have extravagant ones, and Bitcoin is no exception.
nope and nope to both of you
majority of the case these published market rates of junk sales are FAKE
analogy
much like when you see ebay sell a 50pence piece for £500. that advert and subsequent sell is the scammer selling to itself to set a market rate for a junk item. they then con idiots into thinking its worth £500 so might get 1 idiot buying it but most people just pay £1.50 in a secondary market of people buying multiple 50pences for multiple £1.50 thinking they wont a jackpot they can resell for much higher.. and then the conned victims try advertising on ebay for £500 which no one buys.. then the scammer takes all those people that paid multiples of £1.50 for multiple 50p which total more then £500 'profit' and the scammer then does the same for a new coin like a 20pence
also because they scammed many multiples of £1.50 for a cost of £0.50 each they are 'in profit' of many multiples of £1 which they dont mind wasting many £1 on ebay advert fee (on chain tx fee) just to promote the next round of their scam, because to them its free money from little effort
latest block at time of posting
most expensive TX in block
https://www.blockchain.com/explorer/transactions/btc/01e09f92619b96a616a9c2cf9e746393c466fdca4cc4f7c4bb038109cf0b3256
most expensive TX in block
https://www.blockchain.com/explorer/transactions/btc/01e09f92619b96a616a9c2cf9e746393c466fdca4cc4f7c4bb038109cf0b3256
No matter how much someone paid for this piece of shit to be on the block, it is certainly a waste of money
Obviously art connoisseurs will disagree, since there seems to be a market for both physical and digital art.
Who am I to argue with them...
latest block at time of posting
most expensive TX in block
https://www.blockchain.com/explorer/transactions/btc/01e09f92619b96a616a9c2cf9e746393c466fdca4cc4f7c4bb038109cf0b3256
most expensive TX in block
https://www.blockchain.com/explorer/transactions/btc/01e09f92619b96a616a9c2cf9e746393c466fdca4cc4f7c4bb038109cf0b3256
No matter how much someone paid for this piece of shit to be on the block, it is certainly a waste of money
Pardon me, but did the halving return the block reward back to where it was?
Agreed, it is very headshaking. However, small minnows will never understand why whales would spend this much for an NFT. We can only be quite certain this is a presentation of their onchain status and to show everyone that they are rich.
I actually understand this well.
All those who spend these "absurd" amounts do so because they obtained BTC at a very low cost, or through mining in the first 4 years of BTC's existence. Or through purchases made in the same period of time. For those who earned all of this, and didn't sell it at the first ATH that occurred, today you could have hundreds of BTC that allows you to spend without much impact on your financial accounts.
Anyway, in all markets we always have extravagant ones, and Bitcoin is no exception.
TXID: 152b928e97bb9e874da1bd4abdf766ae0cdc7a2f260dad5542967cb414c58489
Why would someone spend 8BTC just to put an Ordinal onto the blockchain?
Its not even the data for the mp4. Its just a link to it. The person could have spent much less to put it in that block.
Why would someone spend 8BTC just to put an Ordinal onto the blockchain?
Its not even the data for the mp4. Its just a link to it. The person could have spent much less to put it in that block.
Agreed, it is very headshaking. However, small minnows will never understand why whales would spend this much for an NFT. We can only be quite certain this is a presentation of their onchain status and to show everyone that they are rich.
Also, according to onchain analysis expert @ErgonBTC, this payer of a 6.7 BTC fee to inscribe in block 840,000 is a Thorchain user and an Ethereum whale.
https://twitter.com/ergobtc/status/1781485156815004006
it's been 3.5 hours and 22 blocks later and the last block was still worth over 20BTC
latest block at time of posting
most expensive TX in block
https://www.blockchain.com/explorer/transactions/btc/01e09f92619b96a616a9c2cf9e746393c466fdca4cc4f7c4bb038109cf0b3256
has taint from block 840k
https://www.blockchain.com/explorer/transactions/btc/ad69d620aa24d2219bade5536ed842e2127757ac4665817d6c0efd01cbe4cdb1
https://www.blockchain.com/explorer/transactions/BTC/243075989d985e3e637b0138bf40684a0905fa2ad3271b2aa54c3da379f15554
https://www.blockchain.com/explorer/addresses/btc/bc1pdkhzwe3q4e2mn7ylyjgw7h48uj6uyq3vh2zf032l9ykkmj32007smqcavu
as you can see now they are trying to spam the new junk(same crap as ordinals) but using the 840k 'rarity' nonsense crap
To be honest, i never seen such high fees at mempool before, over a 1000Sats/vbyte
At first thought that after the halving some miners may be shut down, resulting in the backlog of the transaction but later i found out it was because of Runes, this fee spike.
Miners must be enjoying this while the rest of us are just waiting for the dust to settle.
it's been 3.5 hours and 22 blocks later and the last block was still worth over 20BTC
latest block at time of posting
most expensive TX in block
https://www.blockchain.com/explorer/transactions/btc/01e09f92619b96a616a9c2cf9e746393c466fdca4cc4f7c4bb038109cf0b3256
has taint from block 840k
https://www.blockchain.com/explorer/transactions/btc/ad69d620aa24d2219bade5536ed842e2127757ac4665817d6c0efd01cbe4cdb1
https://www.blockchain.com/explorer/transactions/BTC/243075989d985e3e637b0138bf40684a0905fa2ad3271b2aa54c3da379f15554
https://www.blockchain.com/explorer/addresses/btc/bc1pdkhzwe3q4e2mn7ylyjgw7h48uj6uyq3vh2zf032l9ykkmj32007smqcavu
as you can see now they are trying to spam the new junk(same crap as ordinals) but using the 840k 'rarity' nonsense crap
Jump to: