Bitcoin Fees Can Be Cheaper Depending on the Timezone

[Crypto Girl]

I beg to disagree with this timezone thing, the chart just show that the increase if trnx fee is because of the high traffic of trnx and fee will just decrease once there will be less trnx. I don't believe trnx fee varies on the timezone.

Also reconsider the fee when lightning network is not yet here.

[1715452527]

1715452527

[1715452527]

1715452527

[fosco333]

In this new study by Diar, a company based on the analysis of digital currency data[1], stated in its February 13, 2019 edition, that Bitcoin transactions fees charges vary according to the regions in which users live and timezones.

According to the study[2], found that the fees for sending 1 BTC vary considerably during the day, as spending money during the day "UTC" costs far more than spending overnight.
This is different for those living in Australia and Japan.


[1] https://diar.co/
[2] https://diar.co/volume-3-issue-5/#5

Maybe it is because in the day of UTC time, there are many bitcoin transactions being processed.
What i know in ethereum blockchain, the gas fee will be much higher if there are many eth transactions in that time.

[Teawhalee]

I have always noticed the difference in transaction charges when sending bitcoins at different times of the day but I didn't know that its because of timezone and locations. This will make people look more into this and take note of their transaction charges and time zone when making bitcoin transactions. This is indeed a great information.

[semobo]

For now its possible because of very less people were using the bitcoin so the country where it is most used might come at the partuclar time zone for now but in future people usues oly cryptos the fee will not be dependabe much on the time zones.

[CoinCollect]

I've never heard of crypto transactions where you can save money with a time zone. That's very interesting.

[1Referee]

I've never heard of crypto transactions where you can save money with a time zone. That's very interesting.

Because Bitcoin is the only one with full blocks and network congestion. Ethereum some times too, but that was more the case back in the days where Crypto Kitties single handedly crippled that platform. The rest of the crypto coins enjoy low fees consistently due to the lack of use. In other words, it's no surprise this is the first time you heard about it, and no surprise that you heard about it here on this forum section.

[betty11]

Back when the bitcoin fee was very expensive, I notice that early in the  morning or at the middle of the night, I usually will get a very low fee, but once it's late morning, the fee would skyrocket. I use +1 GMT. Recently, I don't check again because fee has greatly dropped.

[ralle14]

Also reconsider the fee when lightning network is not yet here.

The lightning network is already here but there's a limit to how much you can transact afaik.

For now its possible because of very less people were using the bitcoin so the country where it is most used might come at the partuclar time zone for now but in future people usues oly cryptos the fee will not be dependabe much on the time zones.

Or during those hours there could be a lot of blocks mined then on the next hour there would be less.

I do not know how accurate this study is but if there is any atom of truth then bitcoin is not ready yet to be used as a global currency. As we are presenting bitcoin as a global currency we are meant to eradicate any trace of zoning. Bitcoin fee should be bitcoin fee anywhere, anytime globally.

Let's not forget, there are ways to avoid transaction fee if they become a problem again in the future. We can also spend Bitcoin off chain where we don't have to use transaction fees or use the lightning network.

[Pursuer]

Or during those hours there could be a lot of blocks mined then on the next hour there would be less.

how many blocks are being found does not depend on the time of the day or how many transactions are in the mempool! it has always depended on hashrate and difficulty and it will always be like that. which means if difficulty stays the same then we will see the same number of blocks be mined per hour (1 each 10 minute) at any time of the day.