Bitcoin and Ethereum Fees Plummet: Yearly Decline Exceeds 90%

Bitcoin and Ethereum transaction fees have decreased more than 90% this year in April, making blockchain use for transfers

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Speculation Rises on Whether Bitcoins Halving Is Reflected in Current Prices

Bitcoin has witnessed new highs in its price lately, with the premier cryptocurrency experiencing an over 60% increase since the beginning of the year. Meanwhile, the crypto community is abuzz with debates on whether the impending halving event is already reflected in the price. There’s a prevailing suspicion that despite bitcoin’s climb against the U.S. [...]

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RGB protocol may offer solution to Bitcoin’s Ordinals jam, proponent claims

The founder of Digital Bitcoin Art and Assets believes that smart contracts on Bitcoin could solve the myriad problems created by Ordinals.

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Onchain Bitcoin Fees in 2024: A Closer Look at Transaction Costs and Delays

Data gathered over the last 36 days reveals that the Bitcoin network’s average transfer fee has consistently exceeded the $3.68 mark, while costs for median-sized transactions have not dipped below the $1.67 threshold. As of Feb. 6, 2024, insights from Bitcoin’s transaction queue highlight a significant backlog of 221,799 transactions awaiting confirmation. Bitcoin Transfer Fee [...]

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Riot Platforms Highlights Risks Associated With Upcoming Bitcoin Halving Event in Annual Report

In its latest annual report, Riot Platforms, the publicly-listed bitcoin mining firm, outlines several significant risks that could impact its operations, including troubles in the broader crypto economy, potential decreases in onchain transaction fees, and the anticipated bitcoin halving event in April 2024. The company emphasizes the halving event’s potential to reduce mining rewards as [...]

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Bitcoin Miners Face Adapt or Perish Scenario as Halving Approaches in Under 60 Days

Data indicates that we’re 96% through the journey to the next Bitcoin halving event, with under two months remaining until the reward for mining a block is reduced from 6.25 to 3.125 bitcoins. Although it’s still premature to pinpoint the precise date—given the average ten-minute interval between blocks—the event is anticipated to take place in [...]

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Bitcoin Network Faces Downturn in Transactions and Fees as Halving Approaches

The volume of daily transactions on the Bitcoin network has seen a significant decline since Jan. 28, 2024, with numbers falling from peaks above 600,000 to below 300,000 transactions per day. This downturn is in sync with a decrease in the daily creation of Ordinal inscriptions, overall easing congestion and reducing onchain fees. Network Activity [...]

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BRC-20 Transactions Now Consuming the MAJORITY of Bitcoin Transactions, as Sudden Increase Sends Fees SKYROCKETING...

The Bitcoin Request for Comment Protocol (BRC-20) is dominating crypto transactions, with 65% of all mined transactions yesterday being tied to the protocol - a new record.

The sudden explosion in popularity has also sparked debate;  is BRC-20 now one of crypto's 'top protocols' and should be regarded similarly to Ethereum's ERC-20 protocol?  Or, as some claim, are we seeing a temporary trend built on memecoins that are unlikely to experience any long term success?

Not the First Time the Majority of BTC Transactions Were BRC-20 Related...

While yesterday's 65% set a new record, the majority (more than 50%) of Bitcoin transactions were related to a BRC-20 transaction for 5 of the last 9 days .

BRC-20 operates on the Ordinals protocol, which is relatively new and enables the storage of various forms of information, such as images, videos, and audios, on the Bitcoin blockchain.

Fees Bring Angry Users, Happy Miners...

Unfortunately, this has led to high congestion and exorbitant fees for processing transactions on the Bitcoin network, causing frustration for regular users.

Miners, on the other hand, are reaping the rewards -  some are claiming to have "never earned this much before".

Over 650 BTC (approximately $18,200,000) has already been spent on fees for the 3,755,000+ BRC-20 transactions to date.
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Author: Justin Derbek
New York News Desk
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Is Bitcoin Crashing Because Of A “Successful” DDOS Attack?

Recent reports suggest that Bitcoin is under a Distributed Denial-of-Service (DDoS) attack, forcing prices lower and transaction fees higher. The attack, observers note, is orchestrated through spam inscriptions that are clogging up the network, inconveniencing users. Bitcoin Is Under Attack? The so-called spam transactions via the Bitcoin Ordinals platform have prompted many to speculate that [...]

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