Michael Saylor: Bitcoin has no spam transaction problem in ten years, free market solved block space challenge

On July 9, MicroStrategy Executive Chairman Michael Saylor tweeted that after a decade of panic about block space concerns and non-monetary uses, the Bitcoin network still has no spam transaction problem.

He emphasized that the current Bitcoin transaction fee is only 1 sat/vB, and anyone can transfer any amount globally by paying an instant processing fee of about $0.30.

Saylor said that the free market solved the block space challenge facing Bitcoin. According to the fee screenshot he shared, the Bitcoin network's fees for processing different time spans such as 1 hour, 1 day, and 1 week are all stable at the low level of 1 sat/vB.

Data further shows that at the current fee rate, it accounts for only 0.0004% of the transaction, with an actual cost of about $0.30. This indicates that transaction costs on the Bitcoin network are quite low.

In summary, under limited block space, low and stable transaction fees not only prove the sustainability of Bitcoin's scaling solutions but also provide an efficient and economical value transfer channel for global users.

This phenomenon not only confirms the practicality of Bitcoin as a decentralized digital currency but also demonstrates its ability to adapt to various challenges in long-term development.

#比特币 # network efficiency