Crypto unintelligentsia discourse has been set aflame by this week’s Big Crisis in Bitcoin.
The culprit: big, fat, unwieldy fee rates.
George Kaloudis is a senior researcher and host of CoinDesk TV’s “All About Bitcoin.”
Until recently you could have sent a bitcoin transaction rather cheaply, probably at a fee rate of 1 satoshi per vByte (equivalent to a fraction of a cent). Now, with the rise of the use of non-fungible token-like “inscriptions” and the BRC-20 token standard on Bitcoin, normal fee rates are comparatively absurd. At time of writing, getting a bitcoin transaction sent in a reasonable time period would cost something like
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