Author: Prayank 2021-08-09 10:25:50
Published on: 2021-08-09T10:25:50+00:00
The author of the given context suggests that it is necessary to increase the 3 sat/vByte basis to 20 sat/vB as feerates have been rising over time and are expected to continue to do so. However, the author has no opinion on changing or removing dust limit. Contrary to the common perception, fee rates are not increasing but rather decreasing in each cycle, ranging between 1 sat/vByte to 200-300 sat/vByte and regularly reset to 1-5 sat/vByte for a very long time now except for when the hash rate went down. The fees per MB since 2016 show that it remains low all the time except for few days in each cycle. The highest fee in this cycle was 2.5 BTC on April 19, 2021, whereas the highest in the previous cycle was 10 BTC on December 18, 2017.
Updated on: 2023-06-15T00:44:52.553052+00:00