BITCOIN'S BLOCK CYCLE AND ITS EFFECTS

[Don Saga]

You would notice that for every bitcoin withdrawal, the gas fees varies for each withdrawal.

Why do you think that happens?

During every withdrawal,  it is not immediately processed but enters a temporary storage tank called the "mempool" awaiting a new block for processing.

In the case of a delayed block creation, this is because bitcoin is built around randomness and every block is created randomly in different time frame mostly.

These orders are piled up in the Mempool and transfer fees increases upon the creation of a new block. Users with low transaction fee would get stuck in this mempool as miners would process high transaction fees first.

Many might think that there could be an error at a certain point with the delay, but its totally normal.

Exchanges also have their own confirmations and that also prolongs the delay for a withdrawal.

Delay in withdrawal does not mean that:
1. Miners are inactive
2. Bitcoin is unresponsive
3. The exchange failed.

It is just a delay caused from creating a new block to accommodate pending withdrawals in the bitcoin cycle.

[Obim34]

In the case of a delayed block creation, this is because bitcoin is built around randomness and every block is created randomly in different time frame mostly.

Averagely, each new block is created for about 10 minutes, sometimes it can be earlier or after.

These orders are piled up in the Mempool and transfer fees increases upon the creation of a new block.

Transaction fees do not increase upon the creation of a new block, transfer fees increases due to mempool congestion or fee competition among senders.

Users with low transaction fee would get stuck in this mempool as miners would process high transaction fees first.

Yes, this is correct. Miners will prioritize those paying higher fee than the average or those minimizing fee cost.

3. The exchange failed.

It is just a delay caused from creating a new block to accommodate pending withdrawals in the bitcoin cycle.

Exchanges often place withdrawals on batch, that may be a cause for little delay.

[Sim_card]

It's called transaction fees and not gas fee. Ethereum uses gas fee and bitcoin transaction fee. Exchange transaction fee is fixed for both big and small transactions i.e you pay same amount of fee. I don't see how bitcoin transaction fees increases due to delay rather, it's based on the mempool depth and congestion. Currently, transaction fee is very cheap and it's also advisable to store your coins in a noncustodial wallet.