Bitcoin Fees Are Falling Amidst Greater Segwit Adoption

[mayurobin]

After spending the final quarter of 2017 ramping up, transaction fees on the bitcoin network have finally begun to decline. Bitcoinfees.info indicates an average fee of $15.79 to have a transaction mined within the next six blocks, rising slightly to $16.54 for the next three blocks and $17.29 for the next block. The median withdrawal fee from exchanges such as Bitfinex this week has been closer to $14 however.

While $14-$16 is still more than many people would like to spend, it’s an improvement at least over the $30 bitcoin fees that were reached during December. Estimatefee.com quotes an average of 358 satoshis/byte to move a transaction within the next six blocks. The number of transactions in the mempool waiting to be confirmed is now below 90,000, from a peak of over 115,000 on December 30.

[seizetehday5]

$30 only? I paid 450k satoshi for one withdrawal but I had no other choice as it was on a website and I needed the funds ASAP. Good to see Segwit finally getting adopted more I couldn't believe when I activated in October it was only at 3% then. I wonder what the adoption rate is now must be closer to 20% if I had to guess.

[Anti-Cen]

I am reading $25 here https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

Damage is done with me, no trust in the dev team or miners and no we do not need 20,000 miners
all doing CPU wars over a mere 7 transactions a seconds.

Total wastes of CPU so they mug us for fees instead of mining to earn a living

[Quickfant]

I am reading $25 here https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

Damage is done with me, no trust in the dev team or miners and no we do not need 20,000 miners
all doing CPU wars over a mere 7 transactions a seconds.

Total wastes of CPU so they mug us for fees instead of mining to earn a living

Any coin which has followed the concept of Bitcoin will be prone to these rising fees. Hopefully the lightning network will be introduced sooner rather than later to Bitcoin.