Road to 1sat/vb! Destination in sight? - page 4.

tranthidung

legendary

Activity: 2310

Merit: 4085

Farewell o_e_l_e_o

Quote from: The Hidebehinder on July 06, 2024, 10:07:14 AM

They didn't on the last ATH at 72k in March according to your own graph, so why would they move coins at the other ATH?

ATH or not, there are always Bitcoin transactions in Bitcoin blocks except barely seen empty blocks.

If there is no transaction in many Bitcoin blocks, what does it mean?
The Bitcoin blockchain, at that time, is more like a dead blockchain similarly to many altcoin blockchains.

Fortunately, we don't see it on Bitcoin blockchains and your logic is broken. People have many reasons to move their bitcoins and no reasons why they should not move their bitcoins around ATH price range.

The Hidebehinder

jr. member

Activity: 29

Merit: 3

Quote from: Solosanz on July 06, 2024, 09:40:10 AM

Even though the fees are down from time to time, but I don't think it will down to 1 sat/vbyte because Bitcoin is going to bullish in the next few months, so the fees would increase since people might sell Bitcoin at the ATH.

They didn't on the last ATH at 72k in March according to your own graph, so why would they move coins at the other ATH?

Quote from: Solosanz on July 06, 2024, 09:40:10 AM

tranthidung

legendary

Activity: 2310

Merit: 4085

Farewell o_e_l_e_o

Quote from: Solosanz on July 06, 2024, 09:40:10 AM

You need to wait at least a year and half when Bitcoin is in bear season.

Bear market is mostly boring for most of us and demands to purchase Bitcoin, trade it or move it in bear market is usually significantly lower than in bull market. What you said is true but I bet that except if you plan to wait for bear market to purchase more bitcoin or fraction of bitcoin, you will less likely want to see a bear market.

Zoom out and see Bitcoin mempools recent years, since 2017

https://jochen-hoenicke.de/queue/#BTC%20(default%20mempool),all,weight

OP can read my thread and apply some tips if see fit.

Minimize your transaction fee with Electrum wallet

Solosanz

hero member

Activity: 952

Merit: 662

The mempool was empty in October 2023, after that transactions with 1 sat/vbyte fees weren't confirmed till now. Even though the fees are down from time to time, but I don't think it will down to 1 sat/vbyte because Bitcoin is going to bullish in the next few months, so the fees would increase since people might sell Bitcoin at the ATH.

You need to wait at least a year and half when Bitcoin is in bear season.

The Hidebehinder

jr. member

Activity: 29

Merit: 3

After months of constantly checking the mempool, calculating fees, waiting for weekends, using coin control to save $2-3 on each tx, finally I can see the light, fees are down to just 6 sat/vb, and finally seems like there is no more spam! Not even these market swing haven't pushed people to move coins from and to exchanges, the mempool will be hopeful soon drained and we can finally not care anymore about sending even a few tens of dollars worth of BTC, consolidate our inputs with pennies and not having stuck funds cause somebody was a cheap bastard!

6sat/vb or 50 cents for a simple tx is normal now, will we see it 6 times cheaper?

How long do you think it will take to reach this target? Days, weeks, months?
I'm so optimistic I will say two weekends from now!

Topic: Road to 1sat/vb! Destination in sight? - page 4. (Read 870 times)