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Author Topic: Road to 1sat/vb! Destination in sight?  (Read 866 times)
The Hidebehinder (OP)
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July 16, 2024, 12:41:31 PM
 #61

Ten days ago it was 6sat/vb now it's 4sat/vb.
Not dropping as fast as I would want but still it's going down, don't think we're off the road for minimum fees at all.

Fees per block are indeed going down to even 0.04BTC or  $2500, but as long as we have the reward it's not that much of a deal, me thinks.
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August 12, 2024, 12:43:00 AM
Merited by nutildah (1)
 #62

Bumping this since it's been a month, we dint get to 1 sat/vb but still last block had 2.21sat/vb and there is no pressure on fees, no major consolidations happen, no rune or ordinals as I can't tell them apart dumps, just random spikes caused by gaps over 20-30 minutes between blocks. If I were to gamble I would bet on under 2 next weekend and hitting 1.0x somewhere next month.
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August 12, 2024, 09:39:07 AM
 #63

Bumping this since it's been a month, we dint get to 1 sat/vb but still last block had 2.21sat/vb and there is no pressure on fees, no major consolidations happen, no rune or ordinals as I can't tell them apart dumps, just random spikes caused by gaps over 20-30 minutes between blocks. If I were to gamble I would bet on under 2 next weekend and hitting 1.0x somewhere next month.

2 sat/vB can now be obtained as easily as it was with 3 sat/vB before, but the difference in fees is not so big that you have to wait. Yes, the obvious reason is the lack of runes and ordinals, when everything works properly without unnecessary clutter. The current values ​​of fees are quite acceptable for normal work, when you do not have to wait for the right time to make a transaction. I would like this to be the norm, but I understand that this is most likely a temporary phenomenon (usual for the summer period), and later we will see an increase in fees again, I do not know why they do this, but lately it happens more and more often ...

 
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August 12, 2024, 07:25:22 PM
 #64

Yes, the obvious reason is the lack of runes and ordinals, when everything works properly without unnecessary clutter.

Blocks are full of runes and ordinals, don't know where you got the idea there are no more
https://ordiscan.com/blocks

I would like this to be the norm, but I understand that this is most likely a temporary phenomenon (usual for the summer period), and later we will see an increase in fees again, I do not know why they do this, but lately it happens more and more often ...

There is no such pattern,
https://mempool.space/graphs/mempool#4y
if you look at it closely you will see that it was actually the last summer that the fees were higher than both sping and winter.

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August 12, 2024, 08:58:06 PM
 #65

That two weekends didn't happen to see Bitcoin at 1 sat/vB. But it's so close this weekend, I think we saw 3 sats and 4 sats /vB this past week.

And that's already a good progress after we came from those high fees because of the network spams that was done by several factors, ordinals, runes, etc.

I hope that when the price of Bitcoin skyrockets or reaches more than the last ATH that it has got, there won't be any issue with the fees and it's going to be stable as what it is now.

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