That's right folks. I just sent a transaction with blockchain's regular fee, which at first I was both surprised and then worried that they messed up again and my transaction would take a long time to confirm at 5 Cents vs $0.40 for a "Priority" Transaction.
Gone are the days of multi-dollar fees (for now). And our transaction backlog, previously as high as 43,000 is under 2,000 right now!
This is great for the future of bitcoin. We have SegWit to think, which took a while to affect the price per transaction but it is very apparent we're now reaping the benefits. Though I'm a proponent of SegWit2x, even if it causes a hard fork (though I'd much rather it didn't and just was implemented on the main chain) it will further increase the capacity of bitcoin so the problem of high fees and transaction backlog does not reoccur in, who knows, a year? - Or 6 months? That's because adoption is picking up rapidy. Japan further legitimized it recently by legalizing many exchanges and the price is rebounding from a healthy correction and back on the bullish trend.
Apologies for the short article and temporary abscence; please comment what topics you'd like me to cover!
See you soon, I promise :)
Shoutouts to:
EDIT 2017-10-04:
Well this is confusing because in the morning they made me send with ~$2 fee for regular AND priority...
Must be the size of transaction for this one though (recent coins)