This week, Bitcoin began on a steady note with its value hovering above $65,800. Previously, sending Bitcoins incurred substantial fees. It used to cost approximately $146 for standard transactions and $170 for priority ones. However, following the halving event, these fees have drastically reduced. Now, you can send Bitcoins for just $8.48 (standard) and $9.32 (priority).
After the halving event, the cost of transaction fees significantly increased. A regular transaction incurred fees over $146, while prioritized transactions reached as high as $170 in fees.
Following the halving, miners expressed concern over earning smaller profits. However, there’s a glimmer of optimism: The Runes protocol by Casey Rodarmor was introduced during the halving event. This innovative solution enables the creation of fungible tokens on Bitcoin, potentially increasing activity and revenue for Bitcoin.
Despite the new protocol, miner earnings have become less certain as the hash price index plummeted from $182.98 to $81.
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2024-04-22 11:01