Bitcoin Transaction fees **UNDER 1 US DOLLAR**
It is a very good time to transfer/move bitcoins around, specially if you can control/set your transaction fees, like in the blockchain.info wallet.
On the screenshot below we can see that the mining fees currently are around 30 satoshi/byte. They were 10x higher just 4 days ago!
100,000,000 Satoshi is 1 BTC. (1 hundred million)
1 BTC is 10,000 USD
In that case 1 Satoshi is 0.0001 USD (100 Satoshi is 1 cent, 10,000 Satoshi is 1 USD)
An average transaction is 255 byte (in the simplest typical case, you'll have one input and two outputs (the recipient, and change)), so multiply these to get the fee in total:
30 times 255 times 0.0001 = 0.765 USD
https://dedi.jochen-hoenicke.de/queue/#1w
Click on the image to view full screen!
An other useful tool : https://transactionfee.info/
One can check the fee efficiency of any BTC transaction! Just paste the TxID and you are good to go.
Click on the image to view full screen!
Bitcoin is at 50% discounted price, slowly bit-by-bit time to accumulate them. I would recommend using dollar cost averaging on the way up/down as we don't know where will be the bottom of this dip.
https://www.bitcoinmarketjournal.com/dollar-cost-averaging-bitcoin/
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Hey, great post! Also they are coming out with the Lightning network to send Bitcoin faster and have less transaction fees:
https://bitcoinist.com/lightning-network-100-nodes-segwit/
Indeed, that will change the landscape in cryptoland :)
But there are existing solutions in place as well - Segwit, transaction batching - but for political/economical reasons large exchanges and service providers - like coinbase - are reluctant to implement them, so they are "spamming" the network with massive transactions and as a result, basically attacking the bitcoin network. Do not use any service where these features are not implemented, it's a clear indication of their true colors and attitude.
Good information friend. I must open a wallet at Blockchain immediately. Thank you.
thankyou for this info :)
thanks for sharing
Thats a very good sign bro thanks
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