Really! Let's talk about low fees. You want to? Because if we can talk fees it will take the huge weight on our shoulders off, the pressure we might feel to talk about something more important such as the massive weight our generation has dealing with the discovery of bitcoin and it's profound effect on the world. We don't want to think about that; lets talk about fees instead. Low fees are great! So innovative.
Well currently a lot of clients are putting a default mining fee in the 0.0001 BTC range or 10000 sat. The fact that we call this a “mining fee” takes our attention away from the coinbase transaction. Oh yeah! Remember that? Gosh so many Txs in the block, I just missed that one.
Yes, in fact miners do get a little more for securing your transaction than just collecting dust. In fact the coinbase transaction is exactly a transaction fee, it is levied not directly on TX submitters but on all bitcoin holders through monetary supply inflation. Transaction fees total more than 3600 bitcoin per day now folks.
With me so far? Good. Now tell me what the fiat TX fees are.