creative commons bitcoin image

Oops! Bitcoin did it. High fees again!

By MermaidChaser | mermaidchaser | 16 May 2020


bitcoin fees screenshot

 

Yes, bitcoin transaction fees are on the rise again. Not like it was in 2017, yet the change is here for all to see.

Is it happening due to the network congestion? Or maybe it's the miners trying to cover their losses incurred by the halving? If that's a possible scenario and technically feasible at all.

Here's some excerpts from the bitcoin.com article:

<<High fees typically indicate that demand for processing transactions is significantly higher than the supply of miners – suggesting more people are using the network and willing to pay more for speedy settlements.>> 

It goes on to say:

<<Analysts say miners might seek to compensate revenue losses through higher transaction fees.>>

bitcoin fees in reward screenshot

The screenshots are made from bitinfocharts.com

P.S. Not sure if blockquotes work

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MermaidChaser
MermaidChaser

Tech savvy, Web development as hobby, Crypto, Esoteric, Personal growth, Making money online, Health (Alternative)


mermaidchaser
mermaidchaser

Wide range of topics, from being skeptical to enthusiastic, but rather somewhere in between

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