Fees
Bitcoin transaction fees hit decade lows, here’s why
It’s a great time to move Bitcoin (BTC) between wallets and exchanges. Bitcoin transaction fees have hit all-time lows in BTC, according to research by Galaxy Digital. #bitcoin fees are at all-time lows. the craziest thing? fall 2021 was the first bull run not accompanied by a major spike in fees. how is that possible? what does it mean? here’s a thread explaining the most confounding (and awesome) chart in bitcoin. (remember june 2021) pic.twitter.com/gnWssTckX2 — Alex Thorn (@intangiblecoins) April 5, 2022 As shown on the graph below, the Bitcoin mean transaction fee has plummeted to 0.00004541 Bitcoin ($2.06) in 2022, while the median is 0.00001292 Bitcoin ($0.59) which is the lowest of any year except 2011, according to the report. Graph to show the fees trending down ...
Ethereum’s average and median transaction fee slip, lowest in six months
The infamous transaction fees of the Ethereum (ETH) ecosystem underwent a decremental phase from Jan. 10 to record the lowest average and median fees of $14.17 and $5.67 — lowest since September 2021. Data from Blockchair shows that the average transaction fee of ETH in January was $53.03, which at its peak was $70.83 back in May 2021. Just within a month, the average fees saw an almost 73.3% decline as evidenced by the following chart. Additionally, the resultant median transaction fee also witnessed an 81.02% drop from January’s $29.88. In the last six months, ETH’s median transaction fee was seen lowest in September at $6.26. Interestingly enough, the transaction count of the Ethereum network has also come down to numbers that were last seen back in early 2019. Blockchair data sho...
Why is my Bitcoin transaction unconfirmed?
Transaction costs are calculated based on the transaction’s data volume and network congestion. As a block can only hold 4 MB of data, the number of transactions that can be executed in one block is limited. Therefore, more block data is required for a larger transaction. As a result, more significant transactions are usually charged on a per-byte basis. When you use a BTC wallet to send a transaction, the wallet will typically provide you with the option to choose your Bitcoin fee rate. This charge will be determined in satoshis per unit of data (there are 100,000,000 satoshis in one Bitcoin) consumed on the blockchain by your transaction, abbreviated as sats/vByte. This rate will then be multiplied by the size of your transaction to get the total fee you’ll pay. If you want y...
Mintable app to support minting NFTs on the layer two Immutable X protocol
Mintable marketplace announced its partnership with Immutable X, a StarkWare-based layer-two solution for nonfungible tokens (NFTs) on Ethereum, to make over 24 million NFTs on Immutable X available for sale on Mintable. This integration will enable users to deposit ETH and ERC-20 tokens with instant confirmation and no gas fees. According to Mintable’s Twitter thread, Mintable and Immutable X share a vision to scale NFT marketplaces by offering access to NFTs to the masses. 1/We’re thrilled to partner up with @Immutable X – the 1st & leading Layer 2 for #NFTs on Ethereum! All NFTs on Immutable X are now available for trade on https://t.co/NJ1lSPqL1Q! ✅ Zero gas fees✅Instant secure trades✅100% carbon neutral. Details: https://t.co/TQh7Cggq2z — Mintable ...
Bayelsa government resolves crisis at Niger Delta University
The mediatory meeting covered Wednesday at the instance of the Bayelsa State Government between the Governing Council of the Niger Delta University, NDU, students’ representatives and other stakeholders has restored normalcy to the state-owned university. Students of the university had been protesting against the closure of the institution’s portal for payment of school fees and alleged enforcement of compulsory wearing of school uniform by the university authorities. But rising from the last round of meetings directed by Governor Douye Diri which were presided over by his deputy, Senator Lawrence Ewhrudjakpo, at the Government House, Yenagoa, it was agreed that the portal for the payment of school fees be reopened. A statement issued by the Senior Special Assistant on Media, Mr Doubara At...
Kano DisCo: Our meters not for sale
The Kano Electricity Distribution Company has warned that meter deployment and installation by its field officials remain free and not for sale. A statement signed by KEDCO Head of Communications, Ibrahim Shawai, on Monday, in Kano, said the clarification had become necessary in view of the recent claims by some online platforms that customers in Kano franchise were made to pay ‘indirectly’ for meters. “This is totally out of place as we have never collected money for meter or installations. “It is as a result of our support for the Federal Government Mass Metering programme where thousands of meters have been installed at different households under our franchise. “Anyone disguising as KEDCO staff or conniving with any of our staff to extort customers, such persons would not be spared but ...
Lagos assembly warns local councils against extorting courier, logistics operators
Pool Photo The Lagos House of Assembly on Monday ordered local government councils and local council development areas (LCDAs) in the state to desist from extorting and harrassing operators of courier and logistics services in the state. Mudashiru Obasa, the House speaker, said the local councils do not have the power to tax logistics and courier services. He said the power of the councils was limited to the registration of bicycles as dictated by the Constitution. Mr Obasa said it was important to act against the action of the councils because it affects the ease of doing business in the state. “We have to make them understand that going out to disturb well-planned and organised businesses that stand to create employment for our youth especially with the rate at which students graduate wi...
Ogun council poll: OGSIEC cancels nomination fees for chairmanship, councillorship candidates
Ogun State Independent Electoral Commission (OGSIEC) has cancelled the nomination fee deposit for Chairmanship and Councillorship candidates in the forthcoming local government elections in the state for all political parties. OGSIEC’s Chairman, Babatunde Osibodu, made this known while fielding questions from newsmen in Abeokuta, the Ogun State capital, on Saturday. He explained that though, OGSIEC had in the guidelines released earlier, stipulated the payment of non-refundable deposit of N200,000 and N100,000 by intending candidates nominated and cleared to contest the chairmanship and councillorship elections in the LG poll, the fees have now been cancelled by the electoral body. “You will recall that we had earlier asked male Chairmanship and Councillorship candidates to make a non-refu...
EFCC: Top government officials involved in illicit financial flows
The Economic and Financial Crimes Commission (EFCC), has accused Nigerian leaders and top government officials of aiding the Illicit Financial Flows (IFF) activities in the country. The EFCC also revealed that corrupt government officials and their private sector collaborators used fronts and ownership structures that do not provide sufficient information about the true identities of the natural persons behind the title to hide illicit money and transferred same to safe havens abroad. The Executive Chairman of the EFCC, Mr. Abduralsheed Bawa, disclosed this during a one-day conference that was organised by the Civil Society Legislative Advocacy Centre (CSLAC) on IFF on Corruption in Arbitration in Abuja Bawa, who was represented by the Head of Research Unit, Department of Policy Research a...
US prioritises students’ visas
US Embassy in South Africa The U.S. Mission Country Consular Coordinator, Susan Tuller, has said the Mission in Nigeria will continue to prioritise student visa appointments throughout the summer months. Tuller disclosed this during the celebration of the U.S. Consulate’s “Student Visa Day.” According to her, there are over 13,000 Nigerian students and soon a few more may join them in studying in the U.S. She added that the Mission has interviewed over 2,500 student applicants since this year. Tuller noted that student visa numbers have gone down worldwide due to the global COVID-19 pandemic. According to her, student numbers from Nigeria were up to 2.5 per cent for the 2019/2020 school year, adding that in the eighth year in a row, the percentage has increased. Tuller encouraged students ...
US accuses Nigeria of significant human rights abuses
US Embassy in South Africa The United States has accusesd Nigeria of significant human rights abuses in its latest ‘’Country Reports on Human Rights Practices for 2020’’, released Wednesday by the Department of State, Bureau of Democracy, Human Rights and Labour. In the report titled ‘’’Nigeria 2020 Human Rights Report, Executive Summary’’, the US accused Nigeria of ‘’significant’’ human rights abuses, which include: unlawful and arbitrary killings by both government and non-state actors; forced disappearances by the government, terrorists, and criminal groups; torture and cases of cruel, inhuman, or degrading treatment or punishment by the government and terrorist groups; harsh and life-threatening prison conditions. The 102-page report also accused the federal government of ‘’arbitrary d...
DPR seals 16 filling stations over ‘irregularities’ in Adamawa
The Department of Petroleum Resources (DPR) has sealed off 16 petroleum stations over alleged irregularities in Adamawa. Sadiq Ibraheem, DPR Operation Controller in Adamawa, disclosed this to newsmen on Monday in Yola. He said that the exercise was conducted during the weekend as part of DPR’s routine surveillance. “We were able to inspect 43 filling stations in Jimeta, Yola, Numan and Maiha and out of which 16 were sealed for various offences. “The offences ranged from sales above official pump price, lack of safety facilities displayed and we discovered some stations were slightly under dispensing,” he said. According to him, the sealed stations have to pay certain fees to the Federal Government and rectify their pump price to official price before they could be allowed to operate. He ad...
