The amount of commission in the network Bitcoin fell 10 times
At the end of the last week, bitcoin owners could notice a curious picture – the commission fee for transactions has dropped to record values, and at the same time the mempool with transactions that have not been confirmed.
If at the beginning of the fourth week of 2018, in order for the transaction to be confirmed, it was necessary to pay 13 satosh per byte, then by the middle of the day on Tuesday the transaction size decreased by 10 times, and users only had to pay 1-2 Satoshi for a byte. The first noticed and paid attention to the user Twitter Armin van Bitcoin.
— A v B ⚡ (@ArminVanBitcoin) January 30, 2018
Armin refers to the data of the site jochen-hoenicke.de, where it was noted that today the average transaction price in dollars is only 25 cents, whereas in December 2017 and early January 2018 users were forced to pay about 40 dollars per transaction.
Such a significant change in the value of the transaction is partly due to the fact that the very price of bitcoin has fallen dramatically in comparison with December and early January. Also, the size of spam transactions has seriously dropped. About it, users have been saying for a long time, accusing Bitcoin Cash of being a planned attack on the bitcoin network, in order to attract more users to its network.
Do not ignore the mempool as well – today its size does not exceed 40 MB, whereas two weeks ago it reached 140 MB. It should also be noted that the number of SegWit-transactions that are working to reduce the amount of commission, on Sunday reached a high of 18.3%, and already this morning it dropped to 16%.
Recall that a few weeks ago on the site Change.org was created a petition calling on representatives of Coinbase to accelerate the implementation of SegWit. For the time being, more than 12 thousand people signed it.
In addition to everything that has already been described above, you can not discount the decrease in the transaction price due to the decrease in the number of transactions themselves. It indicates that users began to abandon bitcoin with its high commissions in favor of alternative cryptocurrency. However, this process is wavy, and people “follow the money”, so when the cost of transactions falls still, one would expect that the interest of users to translations of bitcoin will increase again.
The graph from the site blockchain.info presented above clearly shows the decline in the number of transactions per day.