Bitcoin: Network activity surges, miners rake in the moolah


16 Sep 2023 6:30 PM

Bitcoin records cumulative fees of $6.3 million from the start of the week up to 15 September, marking a 40% weekly growth. ...

  • Bitcoin's daily transaction count reached an all-time high on September 15th.
  • Despite the increase in fees, miners did not rush to sell their holdings.
  • Cumulative fees for the week grew by 40% compared to the previous week and doubled compared to the same period last year.
  • The number of daily confirmed transfers hit a record high of 703,504 on September 15th.
  • The surge in fees led to a backlog of unconfirmed transactions, prompting users to bid up fees.
  • Miners saw a surge in the number of coins held in their wallets and did not immediately sell them despite the increase in fees.
  • A miner who received an accidental overpayment of 19.8 BTC returned the funds after seeking advice from followers.

The article discusses the positive growth in Bitcoin's daily transaction count and the increase in fees. It also highlights the miners' behavior and their decision to hold onto their coins despite the higher fees. The incident of the miner returning the accidental overpayment adds a positive sentiment to the overall analysis.

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You May Ask

What was the daily transaction count for Bitcoin on September 15th?How did the increase in fees affect users?Did miners sell their holdings despite the higher fees?What was the response of the miner who received the accidental overpayment?How did the surge in transactions impact the network's congestion?

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