It is interesting to see the difference in the fee market now, compared to the crazy time about a year ago. People seem relaxed, if there is a pile up of transactions in the queue, fees only rises slightly, and they keep being elevated for hours after. Transactions with miniscule fees of 1 or 2 sat/B are still being confirmed, either quickly with low traffic or after some hours.
If we have more demand pressure, which I think we will have, it is not certain at this point that we will have a queue of over 100k trans, I believe the current situation will continue, basically forever, but with fees creeping up. The high fee, priority transactions will be more expensive.
Not sure about the low fee, can wait, transactions. Maybe ultra low fees for some transaction will continue, with a wait time of up to half a day, because the high fee transactions will reduce demand.
The market is a fantastic mechanism.
Glad we have it in bitcoin cash too.
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source https://www.reddit.com/r/btc/comments/az35ib/btc_transaction_prices/
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