According to @BitMEXResearch, transaction accelerator services are an example of out-of-band fees on Bitcoin, where fees are arranged outside the public mempool process. Source: https://blog.bitmex.com/miner-fee-gathering-capability-part-2-out-of-band-fees/; https://x.com/BitMEXResearch/status/1969067597372027389 According to @BitMEXResearch, if out-of-band fees become very popular, this is potentially bad for Bitcoin’s decentralisation and therefore its censorship resistance. Source: https://blog.bitmex.com/miner-fee-gathering-capability-part-2-out-of-band-fees/; https://x.com/BitMEXResearch/status/1969067597372027389 According to @BitMEXResearch, the article examines private fee arrangements between users and miners and outlines the decentralization and censorship-resistance risks associated with these out-of-band mechanisms. Source: https://blog.bitmex.com/miner-fee-gathering-capability-part-2-out-of-band-fees/ According to @BitMEXResearch, this research highlights a network-structure risk that traders focused on BTC fundamentals can monitor when evaluating fee-market dynamics and miner behavior. Source: https://blog.bitmex.com/miner-fee-gathering-capability-part-2-out-of-band-fees/

According to BitMEX Research, maintaining an open fee market for Bitcoin blockspace—where bids are placed transparently in the public mempool—is essential for the cryptocurrency’s long-term security and viability. This open system promotes free and fair competition among transactions, allowing traders to optimize fees and transaction times. BitMEX Research warns that if centralized private entities bypass the mempool to send transactions directly to miners, it could undermine market efficiency and impact on-chain trading strategies (source: BitMEX Research, May 1, 2025).