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Nikamoto
2334d
If bch price gets multiplied by 10 fees will get multiplied by 10 right ? That sucks
5 / 19 2
ih8x509
replied 2334d
As the price of BCH increases it will unleash a real fee market where some pools will accept lower fees and some will not.
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666
replied 2334d
🤖 1 BCH = 510.19$ 📉 -0.81%
Tips = fuel️
#BCHprice
En Fri Mand
replied 2334d
then we can pay 0.1 sat/byte instead of 1 sat/byte.
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666
Nikamoto
replied 2334d
Pools won't change the 1sat/byte fees ... Right now we can't pay 0.1sat/byte right ?
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En Fri Mand
replied 2334d
You don't know what pools are going to do in the future. If you target the right nodes you can even do 0 fee txs. I did this one today:
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12,666
Nikamoto
replied 2334d
Didn't know about that (that's pretty cool), thanks !
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666
En Fri Mand
replied 2334d
You are welcome 😊 it is pretty hard to do but it is possible. All the ABC nodes reject 0 fee so you have to get the TX around them and most wallets don't support 0 fee so you....
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En Fri Mand
replied 2334d
... Need to create the TX manually. I hope this will change soon. I miss the good old days when you could relay a 0 fee tx through the BTC network without any issue.
2
replied 2334d
yes. it is nice to send five to a wallet and 5 from there. Not 4.9999 or some shitt.
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666
En Fri Mand
replied 2334d
It is, yes 😊
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En Fri Mand
replied 2334d
https://explorer.bitcoin.com/bch/tx/6d03b3c9fd9d1d6f7a6c06877d92104d383520d6565e41bb0b21c16f579fb996
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666
slb
replied 2334d
Why? Are you a pool/miner?
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NonAlcoholicBeards
replied 2332d
False...
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Metalbrushes_Tattoo
replied 2334d
Really?? Is this actually true?
I thought BCH fees would always stay low as long as BCH continues to scale ahead of the adoption???
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replied 2334d
The satoshi amount will remain unchanged, 1 sat per byte. If we evaluate the fee amount in fiat (dollars) then yes 10x price implies 10x cost in fees in fiat. In BCH fee amount is same
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1,111
Metalbrushes_Tattoo
replied 2333d
Ohhhhhh ok that makes sense.
So why wouldn’t the satoshi amount adjust with the rise in fiat prices though?
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replied 2333d
The transaction sizes are independent of the fiat price. The minimum fee you'd pay is ~226 sats - this would be the same if BCH rose to 10,000 tomorrow.
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1,111
Metalbrushes_Tattoo
replied 2333d
Ok, I understand now
Thanks for explaining that for me
:D
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replied 2334d
🤖 1 BCH = 509.94$ 📉 -0.82%
Tips = fuel️
#BCHprice
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