.03 sat/byte BTC transfer confirmed in ~ 2 hourssteemCreated with Sketch.

in #bitcoin • 7 years ago

With the mempool so low I decided to sweep a few keys and used fees of between .1 sat/byte and .029. They all were confirmed within 2 hours. What are your theories for the recent collapse in the mempool?

Some obvious possibilities are:

  • Abatement of spam attacks
  • Users restricting use to high value transfers (not realizing low fees can be quickly confirmed). The evidence doesn't seem to support this theory. https://blockchain.info/charts/estimated-transaction-volume
  • Users migrating to alts (ETH transactions/day are up over 700% this year and now exceed BTC)

Thoughts?

#crypto #cryptocurrency #blockchain #ethereum
7 years ago in #bitcoin by
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