MathWallet gas prices skyrocket as BTC climbs

MathWallet gas prices skyrocket as BTC climbs

By tipplenurkey | Proven Passive | 1 Aug 2020


   I have been using MathWallet to initiate OP_RETURN BTC transfers to ChainX so I can mine with X-BTC, but the last transaction cost me over $19USD in BTC to send just over $11 worth.  I haven't had much opportunity to investigate, but I suspect blockchain congestion due to the recent rise in BTC value to be the culprit.

   For now, this means I'll be moving my BTC to Hotbit.io to buy PCX, which I can move to ChainX Signer and put in voting freeze.  I'm hoping this will allow me to generate reasonable profits until the market stabilizes enough to make BTC transfers without outrageous fees.  On the bright side, Nexo Wallet is still charging no fees of their own, so guess who has my BTC business right now?

   Don't get me wrong, I guess I understand why the gas fees are going up, but for the price to go from less than $5 to almost $20 in less than a week?  That seems a bit excessive to me.  I like MathWallet, but I can't afford that gas any more than I could afford real gas at that price.  Someone let me know when BTC calms down again so I can go back to moving it normally.


tipplenurkey
tipplenurkey

Disabled veteran, father of 7 and crypto investor with a natural talent for research and a God-given gift with numbers.


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