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Why the network fee is changing suddenly from one day to the next? One day transaction fee costs ~20USD, the next day it's already ~30USD. Why is that happening? I always thought that the fee is constant.

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A Bitcoin block can contain only 1 mb of data. A transactiom averages around 255 bytes. A block is built about every 10 minutes and the blockchain forces the difficulty to do so. So per hour, only around 6mb worth of transactions can pass, however there's a much higher demand due to Bitcoin's popularity. If only X transaction can fit in a block but five times X would like to do a transaction, only the highest bidding X number of transaction will proceed. At this point it's basic supply and demand understanding.

  • @Cedrik I still don't get it, especially last two sentences. Why is the fee changing all the time? – TheOpti Dec 21 '17 at 21:43
  • Checkout this site txhighway.com/# . Bitcoin Cash allows 8 megabytes so there's a ton of space for cars to go, Bitcoin only allows 1mb and the highway is jammed packed. Much more cars want to get on the road then there's cars that are displayed. Only the highest paying cars will manage to get on the highway. – Cedric Martens Dec 21 '17 at 21:52

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