Zero-fee transactions were the norm in 2011, the exception in 2012, increasingly rare since, and now finally gone. pic.twitter.com/jO9GPlGTiK
— Arvind Narayanan (@random_walker) May 15, 2016
The increasing amounts of Bitcoin transactions have slowly led to an increase in Bitcoin fees as miners favor the transactions with fees as priority transactions. This means that it can take a longer time for a Bitcoin transaction to clear. Some transactions, small ones without fees generally, can be lost to the Bitcoin ether, only to be returned to sender a few day later.
Transaction fees have been touted as one of the best reasons to use Bitcoin. The world’s first truly international value transfer system boasts the lowest transaction fees. Though these fees have been quietly rising over time – and sparked the abovementioned, intense debate about how to keep them low – they remain to this day considerably lower than other value transfer alternatives.
Transaction fees are