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Replying to Avatar Sikto

Fees are not correlated to the price of bitcoin. Fees are related to how much data is in a transaction and the competition to get that data included in a block.

If you have to combine 15 utxos into a single transaction, instead of having the same value in one utxo, you are going to pay more in fees, becuase you need to include more data.

This is why everyone should consolidate their utxos, during times of low fees. It's better to spend one large utxo, than 10 or 15, as it contains less data.

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plebeian 1y ago

Exactly 👍

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