Bitcoin Forum

Not again roger .........lol  ::)

https://blockchain.info/tx/5b93feda9184356515b3d056776d6c752fe75fb66bcbf41a078cfb8661a4b4bb

Ouch, that was pretty expensive, although it didn't seem necessary spend so much money on the fee, some people can afford to be this generous...

It's probably been made by mistake, nobody sends a fee that large on purpose surely. It's counter productive to the whole point of bitcoin.

It is not counter productive. You can include any fee you want, and that is not anyone elses business. Including a higher fee usually leads to a faster confirmation, especially when the mempool is full of unconfirmed transactions.

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That said, the include fee-rate is 'Fee / KB 0.00362056 BTC' which translates to ~362 satoshis/byte. This is ~3 factors higher than the recommended fee-rate. Fun fact: With Segwit, such a transaction would require a smaller fee rate than the equivalent transaction creating 187 outputs.

fun fact
segwit is not active
fun fact
segwit if activated will only offers the discount if the funds were actually using a p2wpkh addresses...
fun fact
not everyone will use them

Actually, it's only half the recommended fee for next block confirmation*, which is doubtless why it took an entire 2 blocks to confirm.

*The latest version of Core doesn't allow setting the confirmation target that fast, due to how "ridiculous" the fee can get. It's like, up to two dollars for reasonably sized transactions. I'm not sure who decided two dollars was "ridiculous" for an international payment system; gotta have your on-chain coffee, I guess.

Hey, there may be several reason why this person would want to add such a high fee. Imagine someone told you, they would give you a discount of 50% < one day only > if you bought something from them. You know there are spam attacks on the network and you want to make sure that the money reach the receiver within the same day.

It could also just be a mistake, but shit happens..right? ^smile^

He paid such because he has stack of BTC in his wallet, there is no need to paid that much for transaction fee, but I don't understand the issue with him, you want a low transaction fee and you are putting all your resources you have to get SegWit blocked.

not to mention that segwit only scale to 2mb, you will only fill double of the current amount of transaction,

in 1-3 years this "2mb" block will be full again, if not already, because none is telling us that more TX will not come in play if there was a 2MB block right now

it can be that many people already are deliberately not spending their BTC because they don't want to pay crazy fee...

and at that point you can't activate segwit again, and i doubt LN will be a thing because it sidesteps from what bitcoin is

fixed that for you, i fully agree with the rest

1. segwit is not going to be used by everyone. so dont xpect the TOP 2.1mb (2.1x) TEMPORARY GESTURE
2. the TEMPORARY GESTURE wont even give days or months of peace.
3. the TEMPORARY GESTURE wont be used by those intent on causing issues
4. segwits other 'fixes' malleability, quadratics, stepping stone to LN, wont be used by by those intent on causing issues

segwit solves nothing. and is just an empty gesture of spoonfeeding empty promises. not real scaling or real solutions

Fun fact: I've said none of those three things. Just shows how ridiculous your posts are.

More won't probably even be required due to second layer solutions, unless there is an exponential growth in usage.

No, it doesn't sidestep. Don't drink the propaganda kool-aid.

Segwit solves/improves several things. If you can't see that, then there is something wrong with you.

Blocks will never be full again once we activate Lightning network along with sidechain technology, Bitcoin will be able to manage any possible amount of transaction and can compete with Visa and Paypal... I can not say same things about unlimited.

ofcourse you didnt say those three things. because you dont know segwit well enough.
please read beyond the glossy pamphlets and promotional posters. think logically, critically and objectively at the small print.



segwit does not solve the problem for the whole network. it only prevents those who voluntarily choose to use p2wpkh keys from
making quadratic tx's.. IT DOES NOT prevent malicious people. because they simply wont use p2wpkh..
making malleated tx's.. IT DOES NOT prevent malicious people. because they simply wont use p2wpkh..
making base block legacy transactions. IT DOES NOT PREVENT malicious people. because they simply wont use p2wpkh..

thus it does not solve the problem for the network.
it just give a gesture to ethical people.. like simply giving ethical people a gold star sticker and a pat on the back, while the problems
of the whole network still exist, for the malicious people who dont voluntarily use p2wpkh keys.

for emphasis
it does not fix the network or the problem it just strokes ethical peoples heads to sleep, saying they are doing their small part towards a temporary empty gesture

For me earning 0.1btc is like a nightmare and you had paid that much amount as fees. May god have mercy on you. I think i will also be able to pay that much fees after establishing myself in financial world and when i will have freedom from parents money. Please bless me to get such high position in my life.

There are people out there with silly amounts of money, so a fee like this is nothing for them. I have seen people paying absurd

amounts of money for basic goods and services. A friend of mine worked for a company that queue for lazy people... they wait in

the queue and when they near the front, they call the person and they replace them in the front of the queue... they pay these guys

absolutely ridiculous fees for this convenience.  ::)

sidechain=altcoin
LN = offchain service.

yes they have a niche. but if you think that pushing people to the side(altcoin) or offchain service, is some how "bitcoin able to manage any possible amount of transactions" then you are not seeing reality.

you might aswell be saying
if users move funds to 'clams' altcoin and use bitgo.com multisig then bitcoin will never need to fill blocks because bitcoin is not being used.

wake up
if blocks will never be full again and people are filling an alternative chain.. then bitcoin has failed.
all because you think stupidly bitcoin would succeed by people not using bitcoin.

think rationally will you

you might as well be saying
"my marriage is a success because i stopped making love to my wife years ago, and started boning the next door neighbour and text flirting with the babysitter'