Unusual Error in Bitcoin: Paid $500,000 in Transaction Fees to Transfer $1,800!

One Bitcoin user today 0.074 BTC He made a very costly mistake by paying 1,982,108,632 satoshi (about $510,000) in miner fees to transfer money (about $1,850).

Bitcoin User Lost Thousands of Dollars in a Major Mistake

The transaction was included in a block mined by F2Pool, one of the largest Bitcoin mining pools.

F2Pool announced on Twitter that it will temporarily put the 20 BTC fee on hold and if no one requests it after three days, it will be reallocated to miners.

Under normal conditions at the time this article was written BTC The average transaction fee required to make a transfer seems to be around $2. High transaction fees were a concept often associated with the Ethereum network.

The concept of ordinals, which has recently emerged in the BTC network, is shown as one of the reasons for the increase in BTC transaction fees. These products, which consist of various data processed on certain satoshis, caused occasional blockages in the BTC network a few months ago.

However, it is not known whether ordinals products, which are currently losing their popularity, are the main reason for this high transaction fee.

Starting from 2140, when BTC mining will end and new BTC production will stop, miners will only have income from transaction fees and will not be able to earn block rewards from mining.

*Not investment advice.

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