This weekend a single Bitcoin block packed 11,255 transactions, the second busiest block in $BTC history.
The record is still F2Pool's block from Aug 1, 2015, with 12,239.
So the chain was nearly as crowded as its busiest day ever. Now look at what it paid.
The 2015 record block paid miners 0.226 BTC in fees.
This weekend's block, mined by AntPool, paid 0.0024 BTC. About $180.
That's roughly 94x less in fees for a block that was almost as full. The average transaction paid about 21 sats, and mempool.space rounds the block's median fee rate to zero.
AntPool still earned about $237,000 for the block, but more than 99.9% of that was the 3.125 BTC subsidy, not fees.
Here's the part worth remembering. The subsidy halves to 1.5625 BTC around April 2028. At today's price that's about $117,000 less per block. Fees like this weekend's would cover around 0.15% of the gap.
Full blocks are nice. Full blocks that pay are what keeps miners around after 2028.
#Bitcoin #BitcoinMining
NFA. DYOR.
The record is still F2Pool's block from Aug 1, 2015, with 12,239.
So the chain was nearly as crowded as its busiest day ever. Now look at what it paid.
The 2015 record block paid miners 0.226 BTC in fees.
This weekend's block, mined by AntPool, paid 0.0024 BTC. About $180.
That's roughly 94x less in fees for a block that was almost as full. The average transaction paid about 21 sats, and mempool.space rounds the block's median fee rate to zero.
AntPool still earned about $237,000 for the block, but more than 99.9% of that was the 3.125 BTC subsidy, not fees.
Here's the part worth remembering. The subsidy halves to 1.5625 BTC around April 2028. At today's price that's about $117,000 less per block. Fees like this weekend's would cover around 0.15% of the gap.
Full blocks are nice. Full blocks that pay are what keeps miners around after 2028.
#Bitcoin #BitcoinMining
NFA. DYOR.
