Damus
Mudgestein · 183w
What would the fee of .0001 BTC mean Tony? I’ve never understood the sat/vb fee thing🤷🏻‍♂️
nostrich profile picture
Some transactions take more space than others, depending on a few factors like if its a native segwit transaction, how many UTXOs had to be used, how many outputs there are. You could have a block that only fits 100 transactions, and another that fits 3000, just due to the size of the transactions; so miners price things per byte (v-byte, see segwit) to get maximum fees per block. 1 transaction that takes 250kb but only pays .000,01B isn't worth 100 transactions that take 2.kB and pay .000,001B each.
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Mudgestein · 183w
Thanks mate… I’ll try to get my head around this
nostrich · 183w
Spend a bit of time looking at mempool.space, you'll see some transactions physically take up more real estate than others, fees are for the square footage they take.