There is nothing anyone can do about: Good for the miners though....Not just from current income, but this basically proves mining will survive in new reduced subsidy eras
I always wonder how much of these high fee events are caused by poor default choices in software. I remember during one of the previous high fee events, it was discovered that many of the popular wallets were recommending fees 2-3x higher than necessary. It only takes 20-30% of the bids to be abnormally high to suddenly incite a bidding war if block space is low....For example I know that Coinbase and the like normally overpay significantly...what about all the mobile wallets....
lol and it's not really even a bullmarket yet
You DID open up your channels when the mempool was clear, right?
...right?
Who can even remember mempools were clear? I remember adding some channels at 10 sats/vB when people thought mempools might clear (note: they didnt)
Oh it happened a number of times last year. Examples:
https://bitcoinmagazine.com/business/what-empty-bitcoin-mempools-mean
According to mempool.space, I believe the record highs for fees are somewhere ~1400 sats/vByte, from back in Dec 2017.
Where is the discussion? Hello? Anyone home?
the fee is insane, was waiting for low fee to do some swaps 😅
What would you like to discuss?
Record high meempool fees
Ok, go!
What about the magic internet money wizards? Udi?