Author: Prayank 2021-08-09 10:25:50
Published on: 2021-08-09T10:25:50+00:00
The author suggests that it may be necessary to increase the basis for fee rates from 3 sat/vByte to 20 sat/vB, as feerates have been going up over time and are expected to continue rising. However, they argue that fees per day in terms of BTC have actually been decreasing in each cycle, with fee rates ranging from 1 sat/vByte to 200-300 sat/vByte and regularly resetting to 1-5 sat/vByte and staying low for long periods of time except when hash rate went down. The author provides a graph of fees per MB since 2016, which shows that the highest fee rate in the current cycle was 2.5 BTC on April 19, 2021, while the highest fee rate in the previous cycle was 10 BTC on December 18, 2017. Overall, the author believes that there is no need to change or remove the dust limit.
Updated on: 2023-06-03T05:23:53.922697+00:00