115 sats \ 3 replies \ @CruncherDefi 20 Apr \ on: Halving Fee Chaos bitcoin
What would you credit-assign the fees to RUNES protocol?
Dude. It's halving. Historic moment. People will bid for blockspace just for making the history. No RUNES needed. And all fee-bidding-war-transactions that did not make it into 840000 block don't disappear from mempool so they spill over to further blocks.
Just wait till all the txs from 840000-fee-bidding-war clear and then we can conclusively talk about RUNES impact on fees.
RUNES-guys made en excellent choice to pick up 840000 block for starting out. They get free coverage from people assigning high fees to them. I didn't even know about that protocol before halving.
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0 sats \ 0 replies \ @senf 20 Apr
Fees dipped in 840,001 compared with later blocks.
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0 sats \ 0 replies \ @SwearyDoctor 20 Apr
my thought exactly. This is people trying to get into the halving block, as is evidenced by the fact that fees cool down again after. The few blocks after were the ones where people had hoped to get into the halving block, but were shifted to one of the next ones. Then, back to normal. unless Runes are a storm in a glass of water-phenomenon (here for an hour, gone the next), this makes way more sense as an explanation.
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0 sats \ 0 replies \ @oliverweiss 20 Apr
This was my thinking too. But I guess we can’t exclude the contributions from Runes either.
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