Oops! Bitcoin User Accidentally Pays Whopping $3M In Transaction Fee
Portfolio Pulse from Benzinga Neuro
A Bitcoin user accidentally paid a $3 million transaction fee on a transfer of 139.42 BTC, which was processed by AntPool in block 818087. The error highlights the risks of high transaction fees on the Bitcoin network, which have been increasing due to the popularity of Bitcoin Ordinals. This incident follows a similar mishap by Paxos in September, which overpaid a fee and was later refunded by the miner F2Pool.
November 24, 2023 | 9:19 am
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The accidental $3 million fee on a Bitcoin transaction may raise concerns among investors about the risks of high transaction fees, potentially affecting the perception of Bitcoin's suitability for transactions.
The news of a user paying excessively high transaction fees could create uncertainty and fear among Bitcoin users and investors, possibly leading to a negative short-term impact on Bitcoin's price as it highlights the risks associated with transaction fees on the network.
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