💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Bitcoin (BTC) Fees Grow with Usage, Still Outpaced by Block Reward

Published 12/30/2019, 07:04 AM
Updated 12/30/2019, 08:21 AM
© Reuters.   Bitcoin (BTC) Fees Grow with Usage, Still Outpaced by Block Reward
BTC/USD
-

Bitcoin (BTC) saw significant fluctuations in overall fees, with heightened activity leading to unexpected, unpredictable gains for miners. Fees are still a small part of the BTC economy, as block rewards of 1,800 coins per day still bring significantly higher gains.

However, with the block reward halved in May 2020, it is possible that with time, fees get closer and closer to the overall block reward. But the chief appeal of BTC is more efficient fee structure, which means billions can be sent for relatively smaller fees.

https://twitter.com/lopp/status/1210979530166411269

Fees decrease as SegWit adoption spreads, with more addresses using optimized information storage. But BTC blocks ...

This article appeared first on Cryptovest

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.