Why are btc fees so high

why are btc fees so high

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PARAGRAPHBitcoin BTC miners enjoy windfall information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media.

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How to tell if i have crypto mining software That said, SegWit is not necessarily the default type of transaction in wallets that support it. However, if the fees paid are too low, your transaction could take longer to confirm. Instead, they are solely related to the demand for block space and the urgency of users to have their transactions confirmed quickly. But, again, only some wallets support the feature, including Blockstream Green and Electrum. As the reward gets smaller, the transaction fee may become the main form of compensation for nodes. But if you aren't in a rush, you can choose a lower fee and wait for it to be included eventually.
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The Bitcoin blockchain reached $ million in fees paid on Nov. 16, with the average transaction fee up % from a year ago. Fees are high, because securing the network cost price. All these transactional fees are directly going to the miners who are verifying the. It's so high because it can finally afford the good ganja again.
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Share this article. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. High transaction fees are a boon for publicly listed bitcoin miners and outperform range-bound BTC price. All rights reserved. Choose the right time: Fees on the Bitcoin network are dynamic and can change based on network congestion.