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Bitcoin Users Are ‘Overpaying’ in Transaction Fees, Data Suggests | Crypto Globe

Notably, the size of blocks on the Bitcoin blockchain and the transaction fees on it are closely related, and have been a subject of debate for years. The debate culminated in 2017, when cryptocurrency prices started surging and more people were conducting transactions.

As this happened, BTC’s 1 MB blocks became full and fees went over two digits, with their peak being close to $50. This saw some users point to cryptocurrency exchanges as the culprits, as they weren’t batching transactions to save up block space.

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Bitcoin Users Are ‘Overpaying’ in Transaction Fees, Data Suggests.

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