can someone explain to me (in simple terms) why Bitcoin fees are so ridiculous right now?
#bictoin #halving #nostr #network #client #crypto
Discussion
I think this is a conjunction of things. First was BTC halving (new BTC supplies decreased by half).
Second is a peak of incoming transactions.
and finally third, miners leaving their job because of fewer rewards in fees.
I cannot see other things…
Actually I can think of one more thing… Runes.
They started a way of doing smart contracts much like Ethereum, but now within BTC Blockchain. It was released with the Halving block.
And people are start to mint their first nft memes right now… this also explains these peak of transactions.
“Rare Sats”. Runes launched with this halving. Now there is more wizard shit on Bitcoin and the defend are loading up on these valuable sats :-)