Published on November 15th, 2017 | by bitcoin0
What you need to know about bitcoin: forks, BTC price, transaction fees
Some bitcoin transaction fees skyrocketed to around $300 dollars over the weekend when miners pivoted en masse to temporarily capitalize on BCH.
Regular bitcoin fees are usually closer to $10 or $20 per transaction, although they clearly vary depending on the circumstances.
“Now we are entering the ‘messy divorce’ phase where the two existing bitcoin blockchains, Bitcoin Cash and Bitcoin Core, will battle it out for name recognition as ‘Bitcoin,’” Peter Rizun, BCH advocate and chief scientist at the nonprofit software provider Bitcoin Unlimited, told IBT.
“It is unlikely that both Bitcoin Cash and Bitcoin Core will survive long-term, unless one switches to a different PoW [proof of work algorithm].” Bitcoin isn’t the only cryptocurrency to undergo tricky forks.
“My advice to bitcoin investors is to simply hold bitcoin cash and bitcoin core in equal proportions and let this play out over the coming months,” Rizun told IBT.