Days of 1sat/vByte might truly be over.
This is a good thing, we have a halving in a year eventually we need these fees to overtake the subsidy.
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Days of 1sat/vByte might truly be over.
This is a good thing, we have a halving in a year eventually we need these fees to overtake the subsidy.
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Sorry for the stupid question, but why do we have higher fees now? Because of increased transaction count? And they bid up?
People are willing to pay more for blockspace, supply and demand.
there is more demand for block space and block space is limited. And to get into blockspace you need to pay higher fees. Because miners are motivated with financial incentive to include those transactions first with higher fees.