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That was the case when the network was clogged, which should be much better now. For a 250-byte (avg) transaction you should be fine with 0.0006 BTC ($1.68, 2.8% of $60).

https://bitcoinfees.21.co/

You're right, bitcoin became expensive for small purchases, which is what the whole recent debacle was about. Hopefully Segwit2X fixes this, at least for a while.



Do you know when this UASF stuff is happening, or if it has already happened, who won, or what looks like it's going to win? It's been a confusing few days...


> It's been a confusing few days...

It certainly has. Not sure what your knowledge is, but the main discussion re scalability in bitcoin recently has been about the activation of segregated witness (i.e. segwit)

There's still one hurdle to get over over the next few days called UESF (User Enforced Soft Fork) that miners have SAID they agree to. The method for this is a thing called BIP91, and it will orphan off blocks from other miners that don't signal they are ready for segwit. Segwit itself (BIP141) requires 95% of miners over the space of ~2000 blocks to signal segwit activation. BIP91 only builds on blocks that signal BIP141, which is how they get to 95%. Almost 100% of miners have already indicated that they will do this. It should start in a few hours?

The problem right now is that lots of people have said they're going to do something, but the question is whether the nodes that define and police consensus in bitcoin are capable of enforcing the BIP91 orphaning. It SHOULD go off without a hitch, but given bitcoin over the last six months, there are no guarantees. If all goes well, bip91 will start orphaning non bip141 blocks, the new ~2000 period of BIP141 activation testing will start, >95% of blocks will be BIP141, and segwit will activate in about three weeks. That will essentially allow bitcoin to double the transaction throughput.

2nd layer solutions and hard-forks sheduled for three months (that are never going to happen) are a discussion for another day.


I see, thank you! Pretty confusing goings-on, but your explanation makes them clear, thanks!


Now that BIP91 (SegWit2X/NYA) is locked in, we will be getting BIP141 (original SegWit) activated in a few weeks, so the BIP148 (UASF) fork should not happen.




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