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54 sats \ 7 replies \ @random_ 28 Jul \ parent \ on: Why Are On Chain Transaction Fees So Low Now? bitcoin_beginners
Not directly, but you can use channel closures as a heuristic.
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21 sats \ 6 replies \ @siggy47 OP 28 Jul
Do you have an opinion on the reason for the low on chain fees?
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54 sats \ 5 replies \ @random_ 28 Jul
Simply supply and demand.
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0 sats \ 4 replies \ @siggy47 OP 28 Jul
Sure, but wouldn't you expect demand to be pretty high right now considering everything that is going on?
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86 sats \ 3 replies \ @random_ 28 Jul
The shitcoiner's blockspace budget is currently being spent on boothspace @ $46/ft^2
IMO cheap blockspace is the normality.
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0 sats \ 0 replies \ @DarthCoin 28 Jul
hahaha good one
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0 sats \ 1 reply \ @siggy47 OP 28 Jul
😀
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54 sats \ 0 replies \ @random_ 28 Jul
But this convo+shower gave me an idea: representing the fee market as candlestick data.
Not sure how opening and closing would be calculated, but high/low/volume is easily transferable.
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