$3 Million Bitcoin Transaction Fee Stokes Debate

By Mark Hunter

3 weeks agoFri Nov 24 2023 08:20:25

Checking out Time: 2 minutes

• A $3.1 million Bitcoin deal charge has actually triggered issues about the viability of Bitcoin’s deal charge design for daily deals
• This cost, sent out unintentionally together with a $2 million Bitcoin transfer, mashes the previous record, exceeding the $500,000 sent out by Paxos in September
• Regardless of Bitcoin deal charges staying around $10, the extensive usage of Bitcoin Ordinals has actually highlighted the significance of counting on Layer 2 options like the Lightning Network

A $3.1 million Bitcoin deal charge has actually stired the fires of Bitcoin’s deal cost design normally, with the problem of its unsuitability to daily deals raising its head. The charge, relatively sent out by mishap in accompaniment to a $2 million bitcoin send out, is a six-fold boost on the previous record of $500,000 inadvertently set by Paxos, which was paid back by the mining swimming pool which processed it. Bitcoin deal charges are still at the $10 mark, thanks primarily to the appeal of Ordinals, making dependence on Layer 2 options such as the Lightning Network all however important.

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