A crypto trader recently paid approximately $105,000 in fees for a single Bitcoin (BTC) transaction and the crypto community is losing it. Bitcoin Archive, a popular crypto account on X, brought attention to the matter. Bitcoin mining is how new BTC is created and how transactions are verified. Miners use specialized, high-end computing hardware to solve complex cryptographic puzzles to secure the Bitcoin network. When a user sends BTC, he pays a fee to have his transaction added to the blockchain. The fee goes to the miners as a reward for processing and confirming his transaction. In simple words, when a miner ... (full story)