Enthusiasts in the cryptocurrency community are guessing what made a Bitcoin (BTC) account owner pay more than 4 BTC to include their transfer in an ordinary Bitcoin (BTC) block. This is the third huge $100,000+ transaction fee paid since September 2023.
Enthusiasts in the cryptocurrency community are guessing what made a Bitcoin (BTC) account owner pay more than 4 BTC to include their transfer in an ordinary Bitcoin (BTC) block. This is the third huge $100,000+ transaction fee paid since September 2023.
User Pays Huge Fee of $174,000 for a Single BTC Transfer
Today, January 16, 2024, automated tracking services recorded an unusual Bitcoin (BTC) transaction in block 826032. Someone paid over 4.03 BTC to transfer 2.89 BTC. Therefore, the transaction had to pay a huge commission of 1,800,890 sat/vB.
At current Bitcoin (BTC) prices, this fee was equivalent to almost $174,000. This block was almost 30,000 times more profitable for Bitcoin (BTC) miners than the average.
A Bitcoin (BTC) developer who goes by @mononautical on X (formerly Twitter) shared his thoughts on what could be behind this crazy event:
Probably user error, as the wallet software would (hopefully) automatically add changes in that situation (…) This transaction was openly broadcast and observed by mempool.space nodes prior to inclusion in any block.
X commenters wonder if this activity could be associated with money laundering or if someone simply set the wrong parameters quickly.
Third scandalous transaction recorded in six months
These transfers are periodically recorded on the Bitcoin (BTC) and Ethereum (ETH) blockchains. In September, someone paid more than $510,000 for a BTC transfer.
In December 2023, a record fee was recorded on the Bitcoin (BTC) network. An unknown Bitcoiner (BTC) charged his transaction with a fee of $3.1 million.
In January 2024, rates on both networks remain stable, according to recent data.
