In brief
- You can now get Bitcoin transactions added to the blockchain for a lot cheaper than before.
- Mining pools cut the rate as Bitcoin blockchain activity has been low.
- Bitcoiners disagree over whether the coin should be used for everyday payments or primarily to hold value.
The debate over whether Bitcoin is best suited for payments or as a store of value is flaring up again. This time, it comes after the price to send the leading cryptocurrency has been slashed.
Top Bitcoin blockchain explorer Mempool posted this week that now users of the biggest crypto network can pay as low as 0.1 satoshi per virtual byte (sat/vByte) to get their transactions processed. A satoshi is the smallest unit of Bitcoin, with 1 satoshi equaling 0.00000001 BTC.
Previously, it would cost 1 satoshi/vByte at minimum to get miners to process transactions. But due to a lack of activity on the leading cryptocurrency’s network, miners cut the minimum rate…
