fee reached 500 BTC.

[rizzlarolla]

People can always use alts to move money, they don't have to use BTC. For example the fee when using doge is 1 Doge which is about 50 satoshis. I expect this development will hasten the move into alts.

I do prefere Litecoin for exactly that reason. Fast, unexpensive, does the job.

Lauda, another alt coin thread?
We'll have RealBitcoin here in a minute pushing nxt.

It is a self regulating cycle: Mining is not profitable -> some miners leave -> mining becomes profitable for the remaining entities -> new miners join -> mining is not profitable.

That is how it was designed but no chance of that happening ATM, IMO.
Mining is profitable -> segwit doesn't come into effect for months/ever -> mempool overload -> fees spike -> mining becomes even more profitable.

[n691309]

https://blockchain.info/unconfirmed-transactions

fee reached 500 BTC.

I accessed this link now and i see that the fees are ~1BTC+, but i have read in the past that a single transaction had 200BTC+ in fees so it is possible to see these enormous fees(but it is not usual)

[The Arcitect]

So that is 50 btc lost from these unconfirmed transactions 
Unbelievable. It just seems like it was a taxation of some sort.

[spanky3]

https://blockchain.info/unconfirmed-transactions

fee reached 500 BTC.

I accessed this link now and i see that the fees are ~1BTC+, but i have read in the past that a single transaction had 200BTC+ in fees so it is possible to see these enormous fees(but it is not usual)

is hard fork can be the cause of this happened ?

[n691309]

https://blockchain.info/unconfirmed-transactions

fee reached 500 BTC.

I accessed this link now and i see that the fees are ~1BTC+, but i have read in the past that a single transaction had 200BTC+ in fees so it is possible to see these enormous fees(but it is not usual)

is hard fork can be the cause of this happened ?

I'm not sure about this, knightdk shorena or others who have pretty good knowledge about this can answer you, btw the total fees now are ~320BTC, what's happening?

[calkob]

i really dont get what you are talking about? fee reached 500btc? what does that mean?

[n691309]

i really dont get what you are talking about? fee reached 500btc? what does that mean?

It means that from 7,500 unconfirmed transaction 500BTC are spent only on transaction fees which is pretty much. At the moment there are 3,700+ unconfirmed transaction and 4,863BTC+ are spend on fees, Unbelievable!

[Oralmat]

https://blockchain.info/unconfirmed-transactions

fee reached 500 BTC.

I accessed this link now and i see that the fees are ~1BTC+, but i have read in the past that a single transaction had 200BTC+ in fees so it is possible to see these enormous fees(but it is not usual)

Pretty scary looking figures; but I think it’s quite reasonable given that the mining process need to be paid and such. I can only wait and hope that the bitcoin value increase then I can make a profit soon.