Bitcoin Fees Skyrocket | Community Divided On Ordinals

Bitcoin fees have become a hot topic, triggering diverse opinions as the cost of sending BTC reaches abnormal heights. BitInfoCharts, a statistics resource, reports an average transaction fee nearing $38 as of December 17, stirring a debate among bitcoin enthusiasts.

The surge in fees is attributed to the recent influx of Bitcoin Ordinals inscriptions, causing a spike in transaction costs for all network users. According to the BitInfoCharts report, the current on-chain costs are the highest since April 2021.

On the other hand, reveals the vastness of Bitcoin’s mempool, with around 300,000 transactions awaiting confirmation, with some paying a fee as low as $2….

Read more on bitcoinnews

37.4K Reads