Hey guys,
The average bitcoin fee is 119 USD$ at the moment..
Isn't that rediculous?!
How does this not affect/stunt it's growth.. Hard to believe.
Check it out over at : https://blockchain.info/charts/cost-per-transaction
Average cost of Bitcoin Transaction : 119 USD$
7 years ago by frogtron (56)
$3.02
- Past Payouts $3.02
- - Author $2.40
- - Curators $0.62
25 votes
- + steps: $2.683 (98%)
- + khaleelkazi: $0.201 (5%)
- + kiloindigo: $0.027 (100%)
- + mmosely0: $0.022 (100%)
- + frogtron: $0.016 (100%)
- + sakilansary: $0.010 (100%)
- + mitthradiumn: $0.009 (1%)
- + thura: $0.006 (100%)
- + ilir: $0.006 (100%)
- + itsok: $0.005 (100%)
- + quinnpeterson: $0.004 (100%)
- + hairyfairy: $0.003 (100%)
- + naturalbeauty: $0.003 (100%)
- + farukcom: $0.003 (5%)
- + lavablast44: $0.003 (100%)
- + nafisacom: $0.003 (5%)
- + bjt34: $0.003 (100%)
- + loidoansteem: $0.002 (100%)
- + proteus-h: $0.002 (100%)
- + andre3000: $0.002 (100%)
- … and 5 more
Yeah pretty wild. It'll be interesting to see what will happen in the future. Maybe litecoin, or another crypto, will be used more for transactions and bitcoin will be used as a storage of wealth.
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Wouldn't you rather use a Proof of Stake Coin as a store of wealth? Such as Omise?
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At the moment I'd choose bitcoin for a store of value/wealth. Just my personal opinion.
I do agree proof of stake coins are great. I've seen Omise on the market, but haven't done any research on it yet. Might have to read up on it now!
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It appears there is something is wrong with the chart. When I look at the cost on Mycelium it tells me the normal cost is $13.70 with a transfer time of approximately 10 minutes.
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When I go here https://live.blockcypher.com/btc/ it says the last block had a total fee of 3.6 Btc with 2877 transactions. 3.6/2877 = .001251303Btc
At $17320/Btc = .001251303 * 17320 = 21.67
Or at this time 21.67 for a transaction (High but not anywhere near $119)
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That's a great observation! I'll have to look into it. Thanks for sharing
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it seems this chart is not very accurate. a much better site to check the latest size of the mempool and latest transaction price is TradeBlock: https://tradeblock.com/bitcoin/ for example, currently the average price of a bitcoin transaction is around $10.00, which i agree, is very high. but it's definitely not $119.
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