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/biz/ - Business & Finance

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10673281 No.10673281 [Reply] [Original]

Brainlet here.

Back in December when the fees went to 20-40$. Why did this happen? Guessing due to 400k transactions. If TODAY there were 400k transactions similar to December, would the fees also go to 20-40$?

What happens if Eth gets 450k transactions same as December BTC? Would the fees go to 20$?

>> No.10673294

>>10673281
You really are a brainlet.

>> No.10673336
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10673336

>>10673281
> If TODAY there were 400k transactions similar to December, would the fees also go to 20-40$?

No, because of batching, segwit, and better wallet fee estimation. They wiould increase but not as high given the same txn amount.

That being said, on-chain fees will continue to increase over the long term.

https://medium.com/@rusty_lightning/the-three-economic-eras-of-bitcoin-d43bf0cf058a

Eth is fucked though.

>> No.10673754

>>10673281
It was also because ETH and BTC were over twice the value they are now.

.1 eth for a transaction fee is more expensive in USD at 1000 per eth than at 300 per eth.

>> No.10674006

>>10673754
What would BTC be right now if it hit 400k

>> No.10674809

>>10673336
Roughly what would the fees be at 400k transactions

>> No.10675341

Bump