Monero’s Riccardo Spagni Complains About BitPay’s ‘Broken’ Bitcoin Fee Payment Service


Riccardo Spagni Complains About BitPay’s Service

Monero’s developer and crypto specialist Riccardo Spagni complained on Twitter about the service provided by BitPay. He informed that he paid 9 satoshi per byte to send a Bitcoin transaction, and that BitPay was saying that the transaction had a low Bitcoin fee.

Every time a Bitcoin user wants to send some funds, it is necessary to pay a fee that is determined by several factors, including the number of transactions being processed by the network. Riccardo Spagni, paid 9 satoshi per byte, which is way more than the necessary amount of fee for a bitcoin transaction to be included in the next block.

He explained that he is tired of these kinds of services like the one offered by BitPay, which he complains is ‘horrible’ and ‘broken.’

BiPay explained that the payment he was making included a low bitcoin miner fee.

“This payment was made with a low bitcoin miner fee, which may prevent it from being accepted by the Bitcoin network.”

But, the transaction has been confirmed, unsurprisingly, in the next block after 11 minutes of being processed.

Bitcoin transaction fees were an issue when the markets were in their best moment. Bitcoin was traded around $20,000 dollars and transactions could cost even $20 dollars, which is quite expensive compared with the cents that we are used to pay during times with less activity.

At the moment, the network shouldn’t be as congested as in the past due to the bear market that we are experiencing. This can be translated in less transactions, and in consequence, less fees paid by the users.

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