In 2021, Bitcoin Transactions Fees Have Dropped up to 60% ⬇️

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ROI Overload is a daily radio show/video podcast show focused on the latest in trending topics in business, tech, finance and startups hosted by Scott D. Clary (@scottdclary).

Available in audio (roioverload.sounder.fm) or video (youtube.com/c/scottdclary).

Welcome to Roy Overload daily business, tech and finance news. I'm Scott declary. This is what's making news today. In Two thousand and twenty one, bitcoin transaction fees have dropped up to sixty percent. There is bad news for social media trolls in Australia, as the prime minister, Scott Morrison, proposes a new law. Demand for air travel is up during Thanksgiving. Yet the Omicron covid variant still looms on the horizon and is a potential massive risk to the travel industry. And a new report has been released. At forty six percent of Russian retail investors see crypto as a hedge against inflation. Let's jump right into it. So first story of the day. Two Thousand and twenty one. Bitcoin transaction fees have dropped significantly. So, in news that will delight bitcoin users, the average bitcoin transaction cost has dropped to a dollar eighty from an all time high of four dollars and forty cents. The drop can be attributed to many factors, including the increasing coverage of the bitcoin lightning network, which processes transactions off chain. Every bitcoin transaction attracts a fee, which...

...is then divided amongst the miners. The transaction fees are higher when the bitcoin network is congested, as a demand from minors to process bitcoin transactions is higher than what is available at the time. The highest bitcoin transaction fees were observed on April twenty one, when Chinese bitcoin miners were facing an outage. At that time, the average bitcoin transaction fee reached an incredible sixty two dollars and eight cents, which is higher, obviously, than the than the average, a high of four dollars and forty cents, but obviously much, much, much higher than the current rate of one dollar and eighty cents per transaction. Bad days ahead for social media rolls in Australia. Scott Morrison, the Prime Minister of Australia's proposing a new law. So trolling on social media will soon be a criminal activity in Australia if a new defamation law proposed by Prime Minister Scott Morrison comes into effect in the country. If implemented, the proposed defamation law will compel every social media platform in Australia to disclose the identity of trolls.

If the platforms, such as twitter or Facebook, refuse to to school the identity of Trolls, they will have to pay a fine or price for the defamation. Under the proposed law, social media platforms will be held accountable for any defamatory comments made on their platform. Also, the social media platforms will be required to create a system through which the users can submit a complaint when they feel they have become a victim of defamation. I'm moving over to travel news. So the demand for air travel has increased during Thanksgiving, yet the omicron variant risk still looms. Thanksgiving week turned out to be a boom for the US airline industry, as it was the busiest period for the industry since covid nineteen was declared a pandemic. This sundate, nearly two point five million people were screened by the TSA, the highest number since February. Fifteen to two thousand and twenty. Though impressive, it is still fifteen percent below the number of people screened by the TSA in two thousand and nineteen. Still, all is not well for the airline industry, as many countries are reporting a search in the covid nineteen cases because of the Omacron variance to be six...

...x more transmissible or six times more transmissible than the Delta variant. And lastly, a new report has been released stating that forty six percent of Russian retail investors see crypto as a hedge against inflation. So investingcom surveyed Onezero Russian retail investors to find the most preferred alternative investment options in the country. The news outlet found that forty six percent of respond and see cryptocurrencies as a necessary hedge against rising inflation. Crypto edged out real estate. It's the favorite alternative investment option amongst Russians. Compared to forty six percent of Russians respondents choosing CRYPTO, only thirty seven percent of the respondence chose real estate. Before two thousand and twenty real estate used to be the favorite hedge asset amongst Russians, which seems to be changing now. If we go by the data that was found in investingcom's recent survey and in other news from around the Internet, bitcoin AUM retracts by nine point five percent this month. So there is a nine point five percent fall in November of bitcoin managed, bitcoin or bitcoin based a Um.

The total number is dropped to forty eight point seven billion dollars. On the other hand, all coin based assets under management increased to sixteen point six billion dollars. That is a five point four percent increase this month, in November, from last month, October. anyways, that's it for today. Hope you enjoyed if you found value in this, share this with one other person. They can go subscribe for daily business, Tech and Finance News and newsletter dot Roy overloadcom. Have a great day. I'll see it to more.

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