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What does miner’s fee mean (miner’s fee is too expensive)

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What does miner\’s fee mean? Miner\’s fee is a common concept in the blockchain fi

What does miners fee mean (miners fee is too expensive)

What does miner’s fee mean? Miner’s fee is a common concept in the blockchain field, also known as “fee” in the computer industry. Miner’s fee refers to the distribution of computational power in the network after it is packaged into a block through mining. Due to the large amount of network usage of Bitcoin, the price for miners is high, while the transaction fees are relatively low.

In simple terms, users pay a certain commission to the trading platform or exchange, and the miner will receive a commission. However, the mining equipment manufacturer will collect the corresponding commission, and this profit will flow directly to the third-party supplier, thereby affecting the miner’s profitability and income.

Miner’s fee is too expensive

Miner’s fee has always been a concern for everyone. After the skyrocketing Bitcoin mining fees in the second half of last year, miner’s fees have become increasingly expensive in the past two days. Some netizens say, “Because of the large computing power and insufficient power resources, the cost is too high,” while others believe it is due to the rise in the price of the currency.

Is this considered a normal phenomenon? Are there still some people discussing this issue? In fact, this is not a concern for ordinary users. “Actually, many friends ask me how to sell their miners to others to do it?”… In any case, for ordinary consumers, regardless of price fluctuations, they still need to pay a certain transaction fee. “Now the mining industry is indeed very inconvenient, and many people are finding various ways to make money.” Some netizens said.

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