In block 788695, 51.7% of the block reward was fees
A strange way to make history, but history nonetheless
And a glimpse into a future, much more robust fee market
Discussion
In 2017 we had blocks with over 12 bitcoin in fees, we haven't seen anything yet
Fees have exceeded coinbase before. Most notable is when a guy sent B0.0001 with a fee of B291 https://www.blockchain.com/explorer/transactions/btc/cc455ae816e6cdafdb58d54e35d4f46d860047458eacf1c7405dc634631c570d
As folks have pointed out, maybe not history — see blocks below — but definitely still notable
409008
470189
500521
Not the first time it happens in history of bitcoin.
https://mempool.space/block/000000000000000000506defaf3aafe7c724faa1628f604f0d801266eb157c43
Anyone know if this is the highest sat/vb average on record?
Short-term anomaly for now. However, we are heading there because of the protocol nature.
BRC-20 txs for 546 sats at 200x the fees are not sustainable in the long term.
The pool shall clear again.