I am confident they will pick up. We are possibly getting a partial glimpse into the future where everything that's happening is going to be happening on layers and with custodians and those will be the entities doing the on chain transactions and not enough of these entities exist yet to keep fees elevated. I think Bitcoiners who are sending to self custody are pretty shrewd about getting the best fee rate possible and I also think ETFs have taken away some of the demand for spot purchases and sending to self custody. Now that people can add bitcoin via etf to their retirement account some of them don't buy spot anymore. I know a friend of mine that was DCAing all through the bear market but lately he only transacts via etfs because it's tax advantaged here in Canada. If he is contributing to his retirement account he gets an offset to his income in terms of tax purposes. Quite the racket between the government and the big banks to keep money flowing into the big banks.

Why are you so surprised? Is low fees a thing to worry about?

How low? I haven't looked at these since I'm holding sats in multiple lightening wallets.

Also, just before a few days, I've listened that fees are too high on the mainnet?

Bitcoin is enjoying good times from all fronts. So, it's just decided to remain lower in fees for the time being! Bitcoin is controlling everything now!

LN

I don’t think fiat price is as correlated as you may think. Majority of people who care about the fiat price are most likely holding in an exchange or ETF, and not really using the Bitcoin network. Therefore, mining fees don’t affect them since on the exchanges it’s all pretend Bitcoin anyway. Only if they self custody would transaction fees come into play for them.

Aside from that, I think it’s just a supply and demand thing? I’m no economist, but my understanding is that transaction fees will go up if there are more pending transactions than can fit in a block. So if there aren’t many people trying to make on chain transactions, there’s no reason to pay high fees

I remember 1 sat/vb but never at these market prices. I've been wondering the same thing.

The fees are just a market so my guess is that people are just not raising their fee fees and are being patient but that doesn't really explain it. I wonder if some wallet software has been changed to reduce fee estimation. I am very curious

Has it been so low? I remember last month people were complaining it was high?

Oh, it's better not to touch on the topic of low commissions in discussions, otherwise someone will be found who will correct this unfortunate misunderstanding for the worse.😬

maybe people playing with ordinals got bored and went to do something else There was a site to see ordinals data but I can't remember now. anyone knows? thanks

Its a bit weird. Retail is not here yet. I guess the ETFs are driving the price up and maybe they don't settle onchain too often.

Maybe people are using lightning more for everyday spending and receiving. But the LN capacity hasn't really grown that much.

Because L2s work and NFT scammers ran out of ideas.

But not enough for people to make a spending decision. Also, LN probably makes a difference in unloading smaller TXNs from mempool.

They used to be free, and also more expensive than now.

People will always find a reason to complain.

Has hash rate dropped a bit? Fees appear to have been getting lower since the halving. I wondered how many miners have quit since then and whether that has contributed to the lower fees?