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Topic: Ontop the matter of Bitcoin fee - page 2. (Read 182 times)

sr. member
Activity: 350
Merit: 295
November 16, 2023, 06:20:18 PM
#3
I see am say this matter na ogbonge one wey we need to talk am make we know how future go be, as the Bitcoin fee dey go up so, wetin una think say e dey cause am, I be hear some people say na the NFT wey dey for the network dey cause am , others say na another thing else , abeg make we chuck mouth share experience and wetin fit happen with tranxaction fee matter in future. This thing done happen before , tell us wetin dey cause am

They are metadata that are inscribe on bitcoin, some investors loves it because of the quick gains and not for the tech. Some days ago, it was reported that ordinals interest from investors have been half since June but I am not sure whether it was that news that trigger them to come back to bitcoin again. To me, it's best they allow these guys do their spamming on other smart contracts blockchain knowing fully how bitcoin network is becoming too unusable during halving, this will only double our challenge in transaction but I forgot that Miners are happy about it.

What are will advise you to do, if you have multiples of outputs in different wallet and you have plans to use them or send them in near future,  consolidate them together into one wallet. It might request for high fees but do that on weekends, you will enjoy that when you send bitcoin from a single wallet address than combine these outputs all together, you will be paying more fees than the outputs if halving should remain 2 months.
legendary
Activity: 1512
Merit: 4795
Leading Crypto Sports Betting & Casino Platform
November 16, 2023, 05:39:52 PM
#2
The reason for the mempool congestion are Ordinals and its BRC20 tokens. Ordinals are just like NFTs which are inscribed to satoshis. BRC20 are experimental standard for fungible token protocol that allows the mining and transfer of the fungible tokens on bitcoin network through Ordinal inscription. You can read more about them from this link: https://hextrust.com/resources-collection/bitcoin-ordinals-the-brc-20-standard. Ordinals and BRC20 tokens are using bitcoin network for transactions and congesting the mempool often than it supposed to be.
member
Activity: 334
Merit: 27
SOL.BIOKRIPT.COM
November 16, 2023, 05:04:37 PM
#1
I see am say this matter na ogbonge one wey we need to talk am make we know how future go be, as the Bitcoin fee dey go up so, wetin una think say e dey cause am, I be hear some people say na the NFT wey dey for the network dey cause am , others say na another thing else , abeg make we chuck mouth share experience and wetin fit happen with tranxaction fee matter in future. This thing done happen before , tell us wetin dey cause am
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