Bitcoin Fees Fall to Record Low

The reduction of the commission size is caused by a decrease of spam transactions, mempool decrease, and popularity growth of SegWit transactions
30 January 2018   1015

Over last few days, Bitcoin users faced with a significant reduction in transaction fees along with decreasing of unconfirmed transactions mempool size.

Thus, if at the end of last week to confirm the transaction in the next block it was enough to pay 10-12 satoshi / bytes, by Tuesday morning this figure decreased almost 10 times.

Thus, the average cost of a transaction in a dollar equivalent to date is only $ 0.25 - a really big decline compared to $ 30 - $ 40, which users had to pay back in late December / early January.

In part, these figures are explained by the overall decrease of bitcoin's price, but it is obvious that the commission itself fell noticeably: three or four weeks ago, more than 100 satosh / bytes were required to confirm the transaction quick.

It can also be assumed that the amount of spam transactions on the network has been noticeably reduced.

Also worth paying attention to the mempool: today its size is less than 40Mb, although in mid-January this figure reached 140MB.

Bitcoin Mempoool
Bitcoin Mempoool

The percentage of SegWit-transactions in the bitcoin network, which also help to reduce the commission, on Sunday reached a record of 18.3%. As of Tuesday morning, January 30, its share in the total volume of transactions is estimated at 16%.

US Authorities to Sell $4.3M Worth Seized BTC

As reported, the Bitcoins were seized during different federal investigations
18 October 2018   114

The US Federal Penitentiary and Marshals Service has announced an auction, during which 660 Bitcoins will be sold, previously confiscated by law enforcement agencies. The current market value of the coins put up for sale is about $ 4.3 million, CoinDesk reports.

Bitcoins offered for sale were seized during federal criminal, civil and administrative investigations.

The auction will be held on November 5, and to participate in it, you must register no later than October 31 and make a deposit of $ 200,000.

The trades will be divided into two parts and include the sale of six blocks of 100 BTC and one more block of 60 BTC. Auction participants will not be able to view other people's rates or change their own.

The Office clarified that part of the assets put up for auction includes Bitcoins, which were seized during the recent investigations into the cases of the traders Teresa Tetley and Thomas Mario Costanzo. Teresa Tetley was sentenced in July to a year in prison on charges of trading in cryptocurrency without the necessary license and laundering money obtained from drug trafficking.

The Marshals do not report which part of the bitcoins seized from Tetley and Costanzo is put up for auction, however, it was previously known that 40 BTC were withdrawn from the first, and 80 BTC from the second.

Two previous major auctions for the sale of confiscated bitcoins were held in the United States in January and March of this year. In the first case, 3813 BTC was sold, in the second - 2170 BTC.