The cost of confirmed Bitcoin transactions has decreased

Recently, Bitcoin users have noticed a decrease in the size of transaction fees; moreover, the mempool for transactions without confirmation has decreased. The confirmation rate for transactions has decreased in price almost tenfold, as of Tuesday morning.

As of Tuesday morning, the confirmation rate for transactions has decreased in price almost tenfold.

Armin van Bitcoin on Twitter noted that today, in order to confirm a transaction, you need to give only 1-2 satoshi / byte.

The user refers to the site jochen-hoenicke.de. According to Armin van Bitcoin, compared to the price of $30 - $40 that had to be paid for transactions in December-January, the average figure of $0.25 at the moment is indeed a little shocking.

According to experts, this situation was influenced by the decrease in the value of Bitcoin itself. As a result, the size of the commission for confirming transactions also fell.

Users have also long noted a decrease in the total number of spam transactions, which, in turn, was blamed on Bitcoin Cash. According to skeptics, this was a targeted attack.

The size of the mempool cannot be ignored: two weeks ago it reached 140 MB, now it is less than 40 MB.

As for the percentage of SegWit transactions, which also plays a role in reducing the commission, on Sunday it rose to 18.3%. On January 30, the percentage dropped slightly to 16%. 

Growing the number of SegWit transactions will benefit from Coinbase, Blockchain.info and Bitpay and other big players adopting their solution.

Change.org has launched a petition on its website asking Coinbase to make the SegWit implementation flag higher. As of today, the petition has been signed by 12 thousand users.