$3 Million Bitcoin Transaction Fee - Is BTC Still Viable for Payments?

A recent Bitcoin transaction made headlines for its astronomical transaction fee of over $3 million paid just to send 139 Bitcoin. This highlights the extremely high costs of transacting on the Bitcoin network as it currently stands.

In this video, we'll break down this recent viral Bitcoin transaction, analyze the exorbitant $3 million fee, and discuss what it means for Bitcoin's viability as a payment network. We'll also compare Bitcoin's transaction fees to alternatives like Bitcoin SV, which aims to scale Bitcoin to support large blocks and low fees.

According to data from CoinDance, it's nearly 700,000 times more expensive to send a transaction on the Bitcoin network compared to Bitcoin SV right now. We'll look at the numbers and discuss whether BTC can realistically compete with the likes of Visa and Mastercard if fees remain so high.
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