There is nothing anyone can do about: Good for the miners though....Not just from current income, but this basically proves mining will survive in new reduced subsidy eras
I always wonder how much of these high fee events are caused by poor default choices in software. I remember during one of the previous high fee events, it was discovered that many of the popular wallets were recommending fees 2-3x higher than necessary. It only takes 20-30% of the bids to be abnormally high to suddenly incite a bidding war if block space is low....For example I know that Coinbase and the like normally overpay significantly...what about all the mobile wallets....
Where is the discussion? Hello? Anyone home?
the fee is insane, was waiting for low fee to do some swaps 😅
What would you like to discuss?
Record high meempool fees
Ok, go!
What about the magic internet money wizards? Udi?
lol and it's not really even a bullmarket yet
You DID open up your channels when the mempool was clear, right?
...right?
Who can even remember mempools were clear? I remember adding some channels at 10 sats/vB when people thought mempools might clear (note: they didnt)
Oh it happened a number of times last year. Examples:
https://bitcoinmagazine.com/business/what-empty-bitcoin-mempools-mean
According to mempool.space, I believe the record highs for fees are somewhere ~1400 sats/vByte, from back in Dec 2017.