How did it come to be like this?
An average bitcoin fee today is apparently $4.85 according to bitinfocharts.com
That's an incredible rise from just 6 months ago when the average was only 39 cents USD!
Fees started out about half a cent when bitcoin was starting to gain traction in 2011 to 2012.
"Oh those were the good old days" Us veterans should be saying now!
Total transaction fees are also up BIG time, the miners are making a killing! just kidding!
At the same time, I'm overloaded with localbitcoins.com buy offers! All of these within the last week! And I'm in a relatively low traffic area in the countryside right now.
In a good sense, bitcoin is really taking off. But it has some problems to fix. If it doesn't get the blocksize increase slash UASF in august, which big namers like Trace Mayer even admit it's unlikely, we'll be stuck with rising fees and, eventually, I see this translating into new user distate to high fees and a continued shift into #altcoins.
Until next time,
Stay calm, and overpriced transaction fee BITCOIN on!