Michael Saylor Highlights $0.44 Bitcoin Transfers in Minutes on Bank Holiday
MicroStrategy chair Michael Saylor showcased a $0.44 fee enabling near-instant Bitcoin transfers on a bank holiday. Critics highlight that low fees reflect weak transaction demand, with mempool activity falling sharply over six months.
1. Saylor's Bank Holiday Transaction Claim
MicroStrategy chair Michael Saylor posted that Bitcoin can send any amount of money anywhere in minutes on a bank holiday for a total fee of $0.44, emphasizing the network’s around-the-clock settlement capability.
2. Fee Structure and Components
Saylor pointed to a base fee of 1 satoshi per virtual byte and a variable Lightning Network fee of 0.0003% of the payment amount, illustrating how the combined charges delivered the $0.44 total.
3. Critic Responses and Demand Trends
Opponents argue low fees stem from weak transaction demand rather than innovation, noting mempool transactions per second have declined sharply over the past six months, and total daily network fees hover around $100,000.