#Gas费影响 Bitcoin's gas fee is the transaction fee, which has the following impacts:

Impact on users

• Transaction cost: Gas fee directly increases the transaction cost of users. When the gas fee is too high, such as when the Bitcoin staking project Babylon was launched, the gas fee soared from $0.5 to $132, small transactions may become uneconomical and even cause users to lose money.

• Transaction speed: Users can increase the priority of transactions by paying higher gas fees, allowing miners to prioritize their transactions, thereby speeding up transaction confirmation. If the gas fee is low, the transaction may wait for a long time in the transaction pool before being packaged and confirmed, or even fail because it has not been processed for a long time.

Impact on the market

• Price fluctuations: Changes in gas fees may affect the market demand and supply of Bitcoin, and thus affect prices. When the gas fee is too high, it may suppress the transaction demand of some users, resulting in a decrease in market activity and a certain pressure on the price of Bitcoin. On the contrary, when the gas fee is low, it may stimulate more transactions and investment behaviors, driving up prices.

• Market sentiment: Large fluctuations in gas fees can affect market sentiment. Excessively high gas fees may make users dissatisfied and worried, triggering panic in the market; while stable or declining gas fees may enhance market confidence and attract more investors to enter the market.

Impact on the network

• Network congestion: Gas fees are closely related to the degree of network congestion. When the network is congested, the number of transactions exceeds the processing capacity of the network, and the gas fee will rise accordingly.

• Security: Gas fees are one of the important sources of income for miners. A reasonable gas fee level can motivate miners to participate in the maintenance and security of the Bitcoin network.