Fees are spiralling out of control due to halving.

[batang_bitcoin]

If you don’t believe , go try it.

I believe you because we can see it. But this isn't the effect of halving. What you should blame is the runes protocol people that have been minting whatever they want as they seem to start the NFT craze again on Bitcoin network. Do they think that it's all worth it? for the miners it is. But for some plebs like me, it is not worth it at all because we're suffering and we can't transact with cheap amounts like $5-$10 because the fees have reached $30 which is crazy!

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[redsun114]

This is not really anything to do with halving, if you've been trying to spend BTC for the last year you'll know it was even higher last year around the same months

Like @Oshosondy already showed, it was a temporary spike, mainly because of Rune, but 100 sat fee is okay if you just spending a normal input. Last week I spent 8 inputs and spent only 51 sat fee, when network average according to mempool was 200. I still got confirmed in 24 hours.

No need to go crazy let the Rune people fight. Oh and this is nothing to do with trading, move to Bitcoin Discussion

Many believe that it was the halving because there are no recent events apart from it and then there is also no upward movement in the price. Rise in fees can occur from time to time but this one here is different because the fees are already at the roof. I don't know what Rune means. Is it a new crypto? It's only great that the fees are starting to get better again.

This means a lot of us can now go back on our Bitcoin activities and this could lead for its price to recover. 24-hours confirmation for a BTC transaction is already long and seems appropriate already for the fees that you have inputted. As long as we are not in a hurry we can do this often.

[Natalim]

Well, we did not expect this will be going to happen. Of course, there is an increase in fees but what we have experienced now is somewhat different, I'd never think this would even take so long, unfortunately, until these days, it remains high. It is quite disappointing but there is nothing we can do other than accept the reality. We just think that the market is wildly changing now and even the fees.

Whatever the reason for this  ( some people are talking Runes), we'd just keep in mind that this will never be forever. And just like in the previous months, it getting back slow to the usual fee of 1- 5 sats.

[Mahanton]

The side effects of Bitcoin halving have emerged.Seeing posts about folks being charged triple their transaction amount in fees for trying to move BTC. Personally tried to move $60 other day and got charged $40 for it. If you don’t believe , go try it.

Fees are normalizing now.. Yesterday this is really playing around 150-200sats/byte.
Now....

Low Priority
43 sat/vB
$3.87

Medium Priority
50 sat/vB
$4.50

High Priority
55 sat/vB
$4.95

This day if this confirmation of blocks would really be that something that fast just like on previous hours
then it would really be showing again that 2-10sats/byte on which we are all longing for. Most of my transactions had already been that confirmed.
It do really sucks that you cant really be able to make out some Bitcoin transaction because of fees but this would really be only into those people who
do only have that small amount of money but for whales then this wont really be an issue.

[freedomgo]

Well, we did not expect this will be going to happen. Of course, there is an increase in fees but what we have experienced now is somewhat different, I'd never think this would even take so long, unfortunately, until these days, it remains high. It is quite disappointing but there is nothing we can do other than accept the reality. We just think that the market is wildly changing now and even the fees.

Whatever the reason for this  ( some people are talking Runes), we'd just keep in mind that this will never be forever. And just like in the previous months, it getting back slow to the usual fee of 1- 5 sats.

Fees are slowly back to its normal rate now. I just hope that it will not reverse all of a sudden. But as we keep on saying, though the market is changing and even with the fees, still the changes won’t take forever. Patience is what we actually need the most. If you don’t have that, then you’ll never have a brighter future with crypto. Regardless if this is all about simply due to halving or those Runes, I guess it’s almost over now.

[jrrsparkles]

For day traders the change in fee dynamics won't affect that much cause they are going to trade inside the exchange and withdraw only to cash out but that can be postponed until fee becomes normal. P2P traders will be affected a lot but I guess they moved to centralized P2P platforms since the domination of exchanges.

[poodle63]

Fees are slowly back to its normal rate now. I just hope that it will not reverse all of a sudden. But as we keep on saying, though the market is changing and even with the fees, still the changes won’t take forever. Patience is what we actually need the most. If you don’t have that, then you’ll never have a brighter future with crypto. Regardless if this is all about simply due to halving or those Runes, I guess it’s almost over now.

runes are tanking in value lately maybe because the surge was too astronomical earlier when the first runes were out for mint.
I mean just imagine flipping money by minting rune flipping that $100 as a fee for getting a rune that is valued $1000 later on I think it does make sense why people across the world are trying hard to mint as much as they can even the built in feature in many minting site such as unisat where you can just bulk mint with high fee also doesn't go to waste so many people utilizing it that it literally flooded the blockchain I think it does make sense why many of us think the fee getting out of control out of the blue because of the runes alone.
just wait until rune become somewhat normal then things will get back to normal again.
its just like the case of ethereum when gwei usually skyrocket whenever there's airdrop claiming or NFT minting going on.

[justdimin]

Fees are slowly back to its normal rate now. I just hope that it will not reverse all of a sudden. But as we keep on saying, though the market is changing and even with the fees, still the changes won’t take forever. Patience is what we actually need the most. If you don’t have that, then you’ll never have a brighter future with crypto. Regardless if this is all about simply due to halving or those Runes, I guess it’s almost over now.

runes are tanking in value lately maybe because the surge was too astronomical earlier when the first runes were out for mint.
I mean just imagine flipping money by minting rune flipping that $100 as a fee for getting a rune that is valued $1000 later on I think it does make sense why people across the world are trying hard to mint as much as they can even the built in feature in many minting site such as unisat where you can just bulk mint with high fee also doesn't go to waste so many people utilizing it that it literally flooded the blockchain I think it does make sense why many of us think the fee getting out of control out of the blue because of the runes alone.
just wait until rune become somewhat normal then things will get back to normal again.
its just like the case of ethereum when gwei usually skyrocket whenever there's airdrop claiming or NFT minting going on.

Well, it was quite obvious that it wouldn't really be that great, so obviously we are not seeing it change anytime soon, it will crash and not be valuable. Maybe there will be a period when it gets a surge because some people work really hard to revive it, but that will fail after a while as well. Runes are all destined to crash there is really no other way, it is just how we are seeing right now. All in all we are going to end up with a much different situation.

All of the situation, we are seeing right now is just temporary, eventually bitcoin and blockchain will go back to how it was. It doesn't really work as something that is changing in the end, we should be considering bitcoin getting "attack" right now which makes fees high, but that will be gone soon enough and we will go back to being normal again.

[serjent05]

Well, it was quite obvious that it wouldn't really be that great, so obviously we are not seeing it change anytime soon, it will crash and not be valuable. Maybe there will be a period when it gets a surge because some people work really hard to revive it, but that will fail after a while as well. Runes are all destined to crash there is really no other way, it is just how we are seeing right now. All in all we are going to end up with a much different situation.

I think Rune will be subjected to pump and dump.  And I feel sad for those who got FOMO'ed to mint Rune NFT because sooner or later they will realize that they just wasted their money when the demand for the NFT tanked.

All of the situation, we are seeing right now is just temporary, eventually bitcoin and blockchain will go back to how it was. It doesn't really work as something that is changing in the end, we should be considering bitcoin getting "attack" right now which makes fees high, but that will be gone soon enough and we will go back to being normal again.

Once the hype about the new Rune subsided, the transaction fee of Bitcoin will surely return to normal just like in the time of the hype of Ordinals.

runes are tanking in value lately ...

It is to be expected because Rune surged due to hype and has no use case.  It is also possible that the early price manipulator had already taken their profit and somehow left the "scene."

[AakZaki]

I believe you because we can see it. But this isn't the effect of halving. What you should blame is the runes protocol people that have been minting whatever they want as they seem to start the NFT craze again on Bitcoin network. Do they think that it's all worth it? for the miners it is. But for some plebs like me, it is not worth it at all because we're suffering and we can't transact with cheap amounts like $5-$10 because the fees have reached $30 which is crazy!

It has become a risk and Bitcoin can be developed by anyone. The emergence of the Rune Protocol which was initiated by several bitcoin developers has made bitcoin even more popular. Positive and negative effects will of course occur, such as rapidly increasing transaction costs and network congestion, but I think this will only happen in a few moments when transaction fees return to normal. Isn't this a bitcoin innovation and of course in a more fun way?

[Kelward]

Bitcoin transaction fees went so high after the halving, and I wouldn't know for sure if it's caused by the aftermath of the halving or due to the runes that are dominating the network as members are speculating, but the fact remains that the occasional congestion in the mempool is not good for Bitcoin business. I'm however glad that the mempool is dicongesting, because evidently transaction fees are gradually returning to normal, I sent Bitcoin yesterday, $106 and the transaction fees was $6, and I was expecting the confirmation to take a couple of days, like the experience that I had a week before, but it didn't take long.

[bitLeap]

The side effects of Bitcoin halving have emerged.Seeing posts about folks being charged triple their transaction amount in fees for trying to move BTC. Personally tried to move $60 other day and got charged $40 for it. If you don’t believe , go try it.

Moving BTC during the Halving will obviously be a very heavy burden but why not do it before the halving if the goal is the same as wanting to sell on the exchange. Therefore, as a retailer, we need to have a minimalist strategy in taking advantage of every opportunity. During the halving, costs will increase than usual and seeing how congested the mempool is, it is inevitable. I speak like that because I carried out 2 transactions before halving and after halving, as a result the second transaction was successfully confirmed 5 days later.

Now transaction fees have returned to normal but prices have fallen below $60K, so those who originally wanted to make a profit have to be patient and wait longer. As a retailer, I can only take advantage of the halving according to the initial target of investing for 3 years until the peak in the area of $72K managed to sell 70%, the rest was to determine whether there would be another new ATH after the ATH occurred before the halving, but in fact the $100K speculation had to be swallowed back.