Send 55 BTC, Transaction Fee is 83 BTC

[Suba]

In the crypto world, mistakes often occur, my experience also happened a few months ago when I sent $400 worth of BTC and paid a $200 transaction fee for a total of $600 spent. Yesterday Thursday Nov 23, 2023 in Mempool space on block/0000000000000000000022d1fbfb5ea34357dc2c341b160abdf2e8c5a774f847, I found a Bitcoin sending transaction, amounting to 55 BTC but the sender had to pay a transaction fee of 83 BTC or US$3.15 million. So the total Bitcoin that must be issued is 138 BTC. Initially the sender with the Bitcoin address bc1qn3d7vyks0k3fx38xkxazpep8830ttmydwekrnl, had 139.43 BTC. So as crypto users we have to be careful and check the transaction fees before clicking confirm SEND. Have you ever made a mistake when sending crypto resulting in high transaction costs?

 

[SHAHID987]

I was almost fainted just few days before when I was trying to send $30 worth BTC from my wallet to one of my exchange, but they were showing as it is not possible because you can't pay the fee.So I tried to swap BTC into BCH and thought that then I will send BCH to exchange. But when I swap they cut a huge fee for that. All of you must remain very careful about swap and transaction particularly for BTC

 

[King Belieal]

Bitcoin is a no go area as it stands now. The congestion in the network is too much. I am just wondering if sending at night can be charged at a sensible few.

 

[Suba]

This is outrageous, imagine when you didn't check again before processing your transaction and discovering when it's too late. That's a great loss

That's why we have to share information and experiences on Dbucks, so that it can be useful for other members to always check transactions before confirming delivery.

 

[neku]

Whenever bitcoin prices increase, the fees are also increasing, so many crypto users are using other crypto for making their transaction. If they cannot pay the fee, their transaction is delayed.

 

[Suba]

Whenever bitcoin prices increase, the fees are also increasing, so many crypto users are using other crypto for making their transaction. If they cannot pay the fee, their transaction is delayed.

True, when the BTC price rises, network fees are also high, transactions are late to be confirmed, in 2017 I also experienced delays of up to 7 days to be confirmed.

 

[Kross]

So we don't have to accept payments in BTC. I also noticed that BCH also has flashes of cases similar to that. It is a Bitcoin fork alright but it's too high.

 

[Kirubel]

Bitcoin transaction fees is getting ridiculously high, even the admin of this forum have faced a high transaction fee to send payment for users. till now i never faced this thing but i don't like to use Btc beside trading with it.

 

[riberet19]

I think BTC fees are too high, and this is due to ordinals, if this doesn't change, it may be that many people will stop using the network, for example people with fewer economic resources, as BTC is becoming a very expensive network.

 

[eLdavis]

LoL that's just crazy, I remember the last time I had btc worth $15 of crypto I wanted to transfer to someone, after making the transfer what the person got was just three dollars.