, 4 tweets, 1 min read Read on Twitter
This image should make it very intuitive/clear how fee estimation has a LOT of room for improvement in #bitcoin. Comparing the red circles, you can see that more recently, a lot of people are seriously overpaying for their transactions:
A couple of takeaways come to mind...
Firstly, remember this chart next time someone laments that "it costs [large amount] to transact in bitcoin right now - it's unacceptable!". What they are probably doing is cherry-picking a transaction that seriously overpaid.
Secondly, consider that people are willing to pay 10x what they actually need to pay to get transactions confirmed; Bitcoin blockspace is *valuable*.
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