Bitcoin fees are priced by how much room a transaction occupies in a block, not by how much value it moves. Sending a large amount can cost less than sending a small one if it uses fewer inputs. When the mempool is busy, a transaction paying below the going rate simply waits.
Fee rate
What a transaction pays for block space, quoted per unit of size rather than as a percentage of the amount sent.
Also called: transaction fee, sats per vbyte
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Full node
Software that independently verifies every rule of the Bitcoin protocol rather than trusting anyone else's word.
Halving
The scheduled event, every 210,000 blocks, at which the reward for mining a block is cut…
Hashrate
The total computational power miners are pointing at the Bitcoin network, measured in hashes per second.
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