Everyone is celebrating about the fourth halving but what is this?

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Oshosondy:
The fee has gone up too much. Is this how blocks mined immediately after halving would be?

Despite the reduction in block reward, block mined are more with transaction fee. The total reward for block 840000 is 40.75 BTC.

Aanuoluwatofunmi:
What.... this is going to be disappointing if the bitcoin are not able to afford making transactions all because of this, this is now going out of hands and i just want to believe that its because of the halving with new block block reward that is causing it, maybe we should expect such to only last a day or two, then we go back to how we have been used to, provided that this is not the first experience in the likes of it, we can rather choose to hold than sending at this high cost.

DaveF:
Bunch of NFT people trying to get their NFTs in the block.
Not sure why other then people are just that stupid.
Also, probably some other people trying to do something collectable.

You can see the incoming TX spike here:

Not a big deal, it's already dropped off.
Should be normal in an hour or 2.

-Dave

btc78:
Quote from: Oshosondy on April 20, 2024, 12:39:40 AM

Despite the reduction in block reward, block mined are more with transaction fee. The total reward for block 840000 is 40.75 BTC.

Well it seems temporary to me and I hope it is

Bitcoin has changed drastically over the past few years and we are expecting bitcoin to only go up from here I don’t think we should be overthinking some things and instead let it play out for a bit

This is what will cost us if we do not have the patience to trust bitcoin

nullama:
There is a ton of excitement to try to be in the halvening block, so many people put their transactions with a lot of fees to try to be there.

The ones that lost the chance will be queued for the next one, which might explain the large fees for that block.

You can see the differences in sat/vB between these blocks:

In this case, the "golden" block was mined by ViaBTC, congrats to them!.

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