Good news everyone!

This morning I made a Bitcoin transaction with 61 sat / byte and got a confirmation 2 blocks later. The last time this was possible was January this year; in fact only a few weeks ago before the activation of SegWit, tx fees reached an all-time high of up to 500 sat / byte.

That is a reduction of nearly 90% of the transaction fees in only a few weeks!

The chart below from bitcoinfees.info shows the historic fees over the past 12 months:

I think this is really good news, along with the rumour that China (once again) plans on unbanning Crypto we might be entering a proper bull market soon.
The only big uncertainty left now is the Segwit2x fork which is happening soon now. I personally hope that the 2x fork will be the successful one, as it was agreed in the first place when the Segwit fork happened back in July / August.

Will exchanges adopt the lower fees, too?

Many exchanges and transfer services increased their static withdrawal fees earlier this year, due to the surge of transaction fees. I hope they will soon act and reduce these fees again now the fees are "back to normal"!

Website tipp

https://bitcoinfees.21.co/ shows a collection of transaction in the Mempool and calculates the best / fastest transaction fee. I always double check before I make transaction so I can adjust the fees of my wallet if necessary.

What is your opinion on the topic? Did you notice the heavy reduction in fees recently? Which fork will you support?

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