Vladislav Sopov
Bitcoin (BTC) users pay a staggering transaction fee that is almost 30,000 times higher than the normal commission
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Enthusiasts in the cryptocurrency community are puzzled as to why a Bitcoin (BTC) account owner paid more than 4 BTC for his transfer to be included in an ordinary Bitcoin (BTC) block. This is the third huge transaction fee of over $100,000 since September 2023.
The user pays a whopping $174,000 fee for a single BTC transfer
Today, January 16, 2024, automated tracking services registered an unusual Bitcoin (BTC) transaction in block 826032. Someone paid over 4.03 BTC to transfer 2.89 BTC. The transaction was therefore charged a whopping/vB fee of a whopping 1,800,890.
At current Bitcoin (BTC) prices, this fee amounted to almost $174,000. This block was almost 30,000 times more profitable than average for Bitcoin (BTC) miners.
A Bitcoin (BTC) developer who goes by @mononautical on X (formerly Twitter) shared his thoughts on what could be behind this crazy event:
Likely user error, as the wallet software will (hopefully) automatically add change in this situation (…) This transaction was broadcast openly and observed by the mempool.space nodes before being included in a block.
Commentators on
Third outrageous transaction registered within six months
Such transfers are regularly registered on the Bitcoin (BTC) and Ethereum (ETH) blockchains. In September, someone paid over $510,000 for a BTC transfer.
In December 2023, a record-breaking fee was registered on the Bitcoin (BTC) network. An unknown Bitcoiner (BTC) added a $3.1 million fee to his transaction.
According to current data, fees on both networks are stable in January 2024.
About the author
Vladislav Sopov
Blockchain analyst and author with a scientific background. 6+ years in IT analytics, 3+ years in blockchain.
Participation in independent analysis and start-ups (Swap.online, Monoreto, Attic Lab etc.)
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
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