Bitcoin User Pays Over $105,000 in BTC to Send Just $10

A Bitcoin person paid greater than $105,197—barely lower than one BTC on the time—to ship simply $10 of the digital coin on Tuesday, based on blockchain knowledge. 

First flagged on Crypto Twitter—or X—by the digital asset group, the person paid the massive quantity to ship simply 0.00010036 BTC, knowledge from Mempool reveals. 

“It was positively some non-standard approach of crafting a transaction,” Nick Hansen, CEO and co-founder of the Luxor mining pool, famous dryly to Decrypt.

Bitcoin transaction charges are usually solely a fraction of the quantity despatched, though they could fluctuate when site visitors spikes on the blockchain. Charges have been low lately after mining swimming pools slashed them in July to extend blockchain exercise.

The common BTC transaction at present stands at $0.91 cents, based on knowledge supplier BitInfoCharts. On Tuesday, Decrypt was in a position to pay lower than $0.30 cents to miners to ship $10 price of Bitcoin.

Customers can modify transaction charges on their crypto pockets appropriately to get processed quicker, and plenty of wallets normally warn customers that they’re overpaying to get a transaction processed. 

So as to ship cash on the Bitcoin community, customers pay miners charges for verifying transactions. Miners then obtain newly minted tokens for his or her efforts. 

The most important cryptocurrency by market worth is getting used more and more as fee for items and providers, however has but to succeed in the mainstream.



Bitcoin was lately buying and selling close to $103,000, down greater than 2% over the previous 24 hours and greater than 18% since reaching a excessive over $126,000 in early October. 

Scott Norris, CMO at Omnes and CEO of impartial Bitcoin miner Optiminer, mentioned that the person clearly wasn’t paying consideration. 

“It isn’t terribly onerous—you possibly can enter a customized transaction payment in lots of wallets,” he mentioned. “Onerous to say if it was an accident or on function although,” he continued, including that the person may need been “actually excessive.”