First effect of Halving...

in voilk •  3 months ago

    Transaction Fees going up like crazy.

    It was to be expected, don't you think?

    The first defense of the mining industry: if my rewards for the work I offer are reduced by half...I will have to raise "my fees" for the service...

    Yesterday we were around 50 Sat/vB, today we have fees 10 times more expensive for low priority transactions.

    Have a look on this transaction:

    546 Sats moved, transaction fee = 50.91$

    Obviously, this is something natural, now we have a few weeks ahead of us where the miners are going to fight for their own "viability" or "survival"... there is going to be a purge of them as much as possible... then they will compete again and to offer "more normal" prices.
    At the moment, it doesn't seem like it's a good idea to make any "minor" transactions, neither coinjoin, nor opening channels in Lightning, unless it's something of a large amount.

    Keep calm, for the moment.

    @toofasteddie

    Posted Using InLeo Alpha

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