TagBitcoin transaction fees

After Last Year's Mempool Drama, Batched Bitcoin Transactions Finally on the Rise

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When bitcoin transaction fees hit record costs in mid-to late-2017, a race for solutions was in force. The most workable one came in the form of batching bitcoin transactions, and batching's popularity has increased in the background of a general bear market that started in early 2018. Technical Underpinnings of Batching At the time, it was noticed that blocks were not used to their fullest...

Bitcoin.org Removes Mention of 'Fast Transactions' and 'Low Fees'

Bitcoin.org has removed the phrase 'low transaction fees' from its homepage. They’ve also made a slight change to how they refer to the speed of transactions, no longer calling them fast: While the website has evolved over the last couple of years, there really haven’t been any major changes to the content in quite some time. The changes made are indeed appropriate, but the introductory video for...

User Error Sees Bitcoin Mining Pool Earn $135,000 as Fee

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A bitcoin transaction of 291.241 BTC saw a fee of 291.2409 BTC, making it an entirely generous fee from the user toward the miner or, more likely, a huge error on the user’s part. Eagle-eyed bitcoin enthusiasts spotted a notably large transaction on the blockchain, one which stood out due to its miner’s fee. First shared on Twitter, the transaction saw 291.241 BTC (approx $136,000) processed as a...

In Defense of Bitcoin Transaction Fees

Bitcoin does not need to scale. While Satoshi Nakamoto might have arbitrarily designed a 1MB  block size into the Bitcoin protocol with little explanation, many industry people forget that, just because that amount was arbitrary, does not mean the protocol must scale now or ever. The people who feel this way - in what essentially represents a conservative approach to the debate - have been...