A question on fee estimators
So I was checking out this bitcoin fee estimator and I seem to understand that there were transactions in the last 24 hours that passed at a very low fee rate. We're talking under 5 sats/byte. Now, my wallet has been showing me fees of 200+ sats/byte for even a slow transaction (fees have been high for a couple of days). I'm having a hard time squaring those 2 things.
How could there possibly have been this many transactions with such a low fee? Am I misreading the data? The estimator seems to say that if I put a transaction fee of 10 sats/byte there's a 90% chance that I'm getting in a block in less than 10 hours. Is the website bad? Side question: what estimator do you use?
28 May 2023
Sloths and slugs protest that Bitcoin congestion is making them look speedy
Sloths and slugs have reacted angrily this week – as the Bitcoin network has become really really slow for the second week running. One angry sloth fumed: ‘The Bitcoin Congestion is damaging our brand. We’re meant to be the slowest thing on earth. But transactions on Bitcoin are making us redundant…’ Particular fury was reserved
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Relief Rally: A Brief Overview
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