Bitcoin transfer fees increased to $60

21.04.2021 |

The bitcoin network recently set a new record, leading to maximum difficulty in another recalculation. Immediately, the next day, the first accident occurred at a coal mine in China. Subsequently, a series of troubles led to a one-quarter drop in hash rate on average over the week, and a 45% drop in momentum over the two days.

Thus, high complexity coupled with low available processing power resulted in longer block retrieval times. Instead of six minutes per confirmation, it now takes a quarter of an hour. This means that for a transaction to go faster, you need to get to the blockchain as early as possible. The only way to achieve this is to pay an increased fee, which is currently about $60.

Around this time, the longest interval between blocks found in the history of the first cryptocurrency was recorded. On April 19, some users had to wait nearly two hours for credit. From three to five o’clock in the afternoon Moscow time not a single block was found.

Another recalculation of complexity will be able to correct the situation. Approximately, it will happen in 11 days. Then this figure may fall by 5-6 percent.