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Nikamoto
2000d
If bch price gets multiplied by 10 fees will get multiplied by 10 right ? That sucks
ih8x509
replied 2000d
As the price of BCH increases it will unleash a real fee market where some pools will accept lower fees and some will not.
replied 2000d
🤖 1 BCH = 510.19$ 📉 -0.81%
Tips = fuel️
#BCHprice
replied 2000d
then we can pay 0.1 sat/byte instead of 1 sat/byte.
Nikamoto
replied 2000d
Pools won't change the 1sat/byte fees ... Right now we can't pay 0.1sat/byte right ?
replied 2000d
You don't know what pools are going to do in the future. If you target the right nodes you can even do 0 fee txs. I did this one today:
Nikamoto
replied 2000d
Didn't know about that (that's pretty cool), thanks !
replied 2000d
You are welcome 😊 it is pretty hard to do but it is possible. All the ABC nodes reject 0 fee so you have to get the TX around them and most wallets don't support 0 fee so you....
replied 2000d
... Need to create the TX manually. I hope this will change soon. I miss the good old days when you could relay a 0 fee tx through the BTC network without any issue.
replied 2000d
yes. it is nice to send five to a wallet and 5 from there. Not 4.9999 or some shitt.
replied 2000d
It is, yes 😊
replied 2000d
slb
replied 2000d
Why? Are you a pool/miner?
replied 1998d
False...
Metalbrushes_Tattoo
replied 2000d
Really?? Is this actually true?
I thought BCH fees would always stay low as long as BCH continues to scale ahead of the adoption???
replied 2000d
The satoshi amount will remain unchanged, 1 sat per byte. If we evaluate the fee amount in fiat (dollars) then yes 10x price implies 10x cost in fees in fiat. In BCH fee amount is same
Metalbrushes_Tattoo
replied 1999d
Ohhhhhh ok that makes sense.
So why wouldn’t the satoshi amount adjust with the rise in fiat prices though?
replied 1999d
The transaction sizes are independent of the fiat price. The minimum fee you'd pay is ~226 sats - this would be the same if BCH rose to 10,000 tomorrow.
Metalbrushes_Tattoo
replied 1999d
Ok, I understand now
Thanks for explaining that for me
:D
replied 2000d
🤖 1 BCH = 509.94$ 📉 -0.82%
Tips = fuel️
#BCHprice