Bitcoin Forum

Have a look at this transaction: https://www.blockchain.com/btc/tx/39afcad6c4d0713ed291014315c4dcf2d81334275218c28fd354af45b7395c61 (https://www.blockchain.com/btc/tx/39afcad6c4d0713ed291014315c4dcf2d81334275218c28fd354af45b7395c61).

$300 million transferred, fees of $0.04, confirmation in 4 minutes.

Now imagine the hoops you would have to jump through to transfer $300 million in fiat, the days of delays, the fees, the people you would have to discuss it with first, etc.

And I still see people complaining about having to pay too much fees. You can check the  Bitcoin Technical Support board to see some examples.
Probably people who are using a wallet that incorrectly calculates the best fees or exchanges that are charging additional transaction fees.

Wow! I didn't know that it is possible?! Im not familiar with that wallet and I rarely used BTC blockchain. Well, I always used my BTC wallet here on my country where I can buy it using our fiat money and their charge for transaction fee is super unfavorable. Is that somewhat depending on the miner who will process your transaction?

This is what I like in crypto and blockchain. You can send any amount to anyone in any country at any time and the fee will remain same plus the transaction takes place rapidly and you can actually trace whether it has happened or not. This is the future :)

It's legit it's like an old time I just withdraw Bitcoin to one exchange the fee is very high and the transaction confirmation took two hour to confirm how I wish all transactions are like that, looks like Bitcoin is back in business if all transactions are like that.

$300 million in 4 minutes and what the best is 4 cents. This is what bitcoin lookslike! Those exchange charges so much high. I hope there's regulatory standard to prevent any for charging to much high transaction fee!

This is what I like the most about bitcoin or other cryptocurrencies. :) Less hassle and almost instant transaction with a very low fee. Surely you can't do this with fiat or bank transaction.

This is the beauty of bitcoin: you can literally send millions of dollars without a huge transaction fee or any intermediaries questioning where would you send the money. As for this transaction, probably the one who sent the transaction is in close ties with the pool operator that's why they let it pass with only a fraction of a fee, or it's the exchange operator himself who made the transfer. Things like this doesn't amaze me anymore since I've seen numerous transactions with the similar nature. Now, if anyone tells me that WU and other intermediary money transfer concierges are still better, I'll show them this transaction just for reference.

Very cool example of how this technology can and will revolutionize the banking industry (among other things). A wire transfer for that amount would probably take a month to clear all the hurdles it would need to go through. The fundamental technology is revolutionary; once the masses realize this, the price will follow.

This and many more are the advantages of using bitcoin over fiat. Having to transfer that sum of money in fiat will take nothing less than $50000 as transaction fees, take almost 5 days to complete the transaction and you'll have to meet tonnes of people all because of a single transaction.
I even read on this forum where a member said he transferred $20000 and the bank charged him $700 over just a single transaction. https://bitcointalk.org/index.php?topic=3203640.0
I just don't get why some people still complain that bitcoin transaction fees are high.

It is not surprising anymore, and this is why Bitcoin is better to use than bank transfer when sending money to someone internationally, it will not be an instant transfer but you will not have to wait days for the receiver to receive the money because it will just take minutes, especially now that mempool is not congested anymore. You also don't need to pay a lot for the transfer even it is small or huge amount. And lastly there is no law to follow or legal documents that you will need to provide when transferring large sum of money using Bitcoin because it is not controlled by the government.

this thing is really fantastic. I can not wait for bitcoin to be used worldwide by the entire industrialized population. It would really be a great revolution.
It will take at least 10 years and the most used unit of measure will be satoshi

Crypocurrency is in its beginning phase, there would be a lot of improvements in the coming future and it would be better than it is today and I'm telling you that it is already many times better than banking transactions at present time. You control everything, no one except you can do anything to your funds. This is really great. There is a bright future ahead.

Delays would be because the bank would have to do security checks, especially after money laundering and anti terrorism laws.

Also transfer this big would have impact on bank, because I doubt all banks have so much cash lying around to be transferred in so short period of time.

Cryprocurrency monetary system is, from your example, more efficient then bank monetary system, because it uses only necessary things that system needs to function.

Actually if we are smart, we can make the cost of bitcoin transaction becomes the cheapest. need good information to get cheap transaction costs.
people who say the cost of expensive bitcoin transactions is that people directly send the bitcoin without any calculation first.

it is somewhat depending on the bitcoin transaction fees but it is not all there is. these places where you buy bitcoin from (the third party services such as exchanges) always charge more fees. it is both because they want to cover the transaction fees and also have some revenue. it may not seem like much but considering the number of withdrawals some of them have per day it is a lot of money.

you can always check the transaction to see how much actual fee they paid. so you can see how much extra they charged you. for instance they pay 500 satoshi fee and charge you 100,000 satoshi fee.

A lot of people still think that Bitcoin transaction fees are extremely high. Thanks to the growing SegWit adoption and Lightning Network this problem is slowly being slowed. There are less people who use Bitcoin of course but I doubt that it would be the only thing that affected the fees. Bank would charge enormous amount of money for such transaction and it wouldn't be confirmed in less than an hour.

I think problem is we have to pay high fees when trading on the exchange. Usually calculated as a percentage of trading volume

Wow... This is just amazing. People 10 years ago could not even imagine this amount of money transferred so easily, and 50 years ago people would drive crazy if they would hear about something like that.

Wow, this really made my day, I am surely going to spread this information with a lot of users and I am 100% sure many people are going to feel the power of bitcoin with this single transaction. I mean literally, no banks cannot transfer this much funds in a short amount of time with this low fees. But for bitcoin is just some strings and it puts that into a ledger and showed everyone in the blockchain so no one can change these details. Now, this is an awesome concept.

Amazing. I'm actually surprised they didn't put a higher transaction fee though, I mean 4 cents is just risky! This is $300 million we're playing with, not 5 bucks. Maybe they wanted the transaction to go unnoticed so they slipped in a low fee, perhaps for a double spend attack afterwards. But either way, this transaction does completely demonstrate the potential of Bitcoin, it would be an absolute circus trying to move $300m between countries, particularly if those two countries are not exactly on friendly terms with one another, e.g. North Korea and the U.S.

That's the point! The essence of Bitcoin is the incredible convenience and speed of making transactions from anywhere in the world at what time we want. It's unbelieveble how Bitcoin is modernist and what technologies it offers. Furthermore, such a low transaction price is simply fantastic. Compared to $ 300 million, what are 4 cents? Nothing to me. I hope that this will be a proof for those who doubt the idea of ​​using Bitcoin.

This is really a great news for the industry. The fee is really so low. And people should not raise any issue the regarding the charge anymore. I hope people will get back the trust on BTC with time .

One of the advantages of using crypto currency over fiat currency is transferring large unit of currency without much hassle. As it is not monitored by the government, large sum of coin can be transferred overseas with very little transferring fees. Moreover, the time required to transfer is very as few or no third party authorization is involved.

that's correct . maybe it seems impossible to the most of the new arrivals but it's true. we know this place is user friendly so they try to maintain very less amount of fee as their transaction charge and the best part is these fee prices remain same for all countries.

That is the beauty of bitcoin and blockchain and it is still on developmental stage.  And the people are still complaining of high fees and more time for confirmation.  I know blockchain will rock.

what are you talking about, what risk?!!

the network does not  care about how much you are transferring. it only cares about the size of your transaction in bytes. you can transfer a tiny amount of money or millions of dollars with the same size of transaction and pay the same amount of fee.
and the fee they paid was a high priority fee which makes the transaction high priority and mineable in the next block.
additionally anybody who knows the basics of bitcoin (meaning they have read the first page of bitcoin.org/start-here) knows well enough that they need to wait for confirmation. and when a transaction is confirmed you can not double spend it anymore specially when it has the recommended number of confirmation.

The moment when those bitcoins come in contact with the Fiat system, then you are stuck with the same problems and the high fees. If the owner can keep that within the Bitcoin ecosystem, then the fees will be applicable. Take for instance what would happen if those coins went through the regulated exchanges. A lot of exchanges ask roughly 1% in trading fees, so that person will have to pay $3000 in trading fees to move it around in an regulated exchange.  ::)

So he or she is not out of the woods yet.  >:(

That was very great though, obviously the Bitcoin network is not that congested anymore that resulted into this kind of good news and I hope it continues. This is the kind of example of no discrimination to everyone but it has still an advantage to those big payment senders and disadvantage to those small time payment senders as they tend to make micro transactions over time that will cost more fees but still it's way more cheaper compare outside the cryptocurrency world.

Thats is blockchain technology works Fast and easy this also why the authority has doubt in cryptocurrency and bitcoin because of money laundering.

To everyone in this thread who is complaining that their fees are still too high, you are doing something wrong.

Either you are using an exchange or online services that charges ridiculous withdrawal fees and is making a large profit off you, you are using a wallet that does not let you set the appropriate fees, you are using a wallet that DOES let you set fees but you are setting them incorrectly, or your funds are made up of nothing but dust and so your transactions have 50+ inputs (unlikely, and still wouldn't push your fees up above a few thousand satoshi).

I would recommend you have a look at the following two sites:

https://core.jochen-hoenicke.de/queue/#2d (https://core.jochen-hoenicke.de/queue/#2d) gives you a nice graphical representation of how full the mempool is currently

https://coinb.in/#fees (https://coinb.in/#fees) gives a very easy to use calculator to work out how much you should be paying in fees to have your transaction confirmed within a couple of blocks.

After invention of crypto market btc is leading the first position in the market based on this btc offers good facilities to their customers so many people invested money in here also they took less transaction fees here is the proof 300 million dollar transaction fee only 4 cent which is really amazing.

This numbers give me the head turning as it seems so irrealistic ! Juste give better idea of the power of the block chain !

Wow! $ 300 million in only 4 minustes is way too quick. In traditional payment system, this transactions require so much time. The transaction fee is only 4 cents which is also very cheap.

If you wanted to transfer $300 million between conventional bank accounts, you would have had to fill up a bunch of papers and, probably, to answer some tough questions about the origin of the money.
I wonder who was the beneficiary of this very transaction and what was its eventual purpose..
Satoshi, is that you?   :D

Thank you for the link of this transaction fees. I is quite low but still I don’t get why some people claim that the fees are high. This fees are very less if any want to transfer fiat they would have to pay more fees and waste of time.

Well this probably shows that Bitcoin is better for transferring large amounts of money than traditional payment processors.  But is it really a good thing? that is, is transferring that hugh amount of money for tiny amounts of fees good for Bitcoin? If that amount where in Physical value it would cost hundreds or even thousands of dollars to transfer. Shouldn't Bitcoin also be charging wealthy investors in %? well what do I know.

If you have 300 million dollars to move I think it's pretty safe to say someone's going to do you a deal. And in the UK and most of Europe bank transfers are free and near instant. It's time the US and elsewhere got out of the stone age.

And this is one of the many reasons Cryptocurrencies are superior.

That's is very impressive, imagine such was done through traditional banks,it would have taken at least a week to process and takes several thousands or hundreds of thousands of dollars

when good news come, people will support this. but the problem come when bitcoin have delay problem and high fees in past. some people have been pessimistic about bitcoin as a payment because of some of these problems. that it what need to solved

These are the kind of demonstrated facts that make r/buttcoin cry at night.

and cheap charging the rate 4 cents if and less cumbersome and hard 4 minutes the truth that the bitcoin is spectacular and easy to use and safe because to move 300 million without anything and one can review it in the chain of blocks and is Anonymous in the banks are scandalized as they ask questions they put travas they charge a fortune they ask permission to the government to the owner of the bank durraria if it achieves it like 2 weeks or more so that they approve it while bitcoin fast and simple and totally safe to yegado to change the world and facilitate their transactions without borders without limits

The innovation of bitcoin exposed all the deficiencies of the traditional banking systems. The above transaction was a huge one, yet it cost near nothing and takes little or no stress to be received on the other end. Bitcoin is definitely the future and it will be a disruptive force to transitional banking systems.

This is a good read for those people who keep on saying and whining that transfer fees are the biggest problem of bitcoin.

And also another thing for the confirmation delay.

This is another great milestone for bitcoin, truly proven that it can be called as something cheap in transfers.

Yes the present low fee is some thing to be happy for compared to what we use to have in late last year and early this year. The amount that can easily be transferred with bitcoin from the comfort of you location can not be compare with the huddle one go through using the traditional financial system. Bitcoin have given us the total freedom.

very impressive. i cat imagine within few minutes you can send million dollars plus lower fees!!! this is the real advantage of blockchain over standard Fiat banks.

Approximately 300 millions worth of bitcoins have been transferred for a fees of 0.04 USD only ! Still people complains about the transfer fees. This need to be corrected.

I am sure that one will be paying more than $ 50,000 in fees alone when they are transferring this amount of money using Bank services.

Wow, can't seems to believe this, but it did actually happened, boy fiat will soon be a legacy medium of international money transfer system, this actually has allayed my uncertainty about transaction fee. Exchanges that charge high will have to repent and allow users to set their withdrawal fess.  

It is amazing and it is super easy! Very few people in the world scale realize this and admire the power of crypto.

I like the way how cryptocurrencies lessen the hassles and the transaction fees.

Where're the Bch advocates saying btc will die due to fees, seems like the people who complained about fees have suddenly disappeared lol. This is the power of bitcoins and this is what makes it such a popular option for all to invest and trade into it. I'm though surprised 4 cents at least 40 cents would have been nice lol. Looks like btc is back in action lol.

Well that's one of the many advantage of using bitcoin or other cryptocurrency.We can manage our money without paying additional third party fees.BUt not all people believe in this system yet,i hope they will realize the advantage of using crypto and start to join.

Was it really 300 million USD? Or just 630 USD? The estimated transacted was just 0.1 BTC and the rest returned to the owner. Anyways as long as the mempool is not congested, you can send any amount with just small miner fees.

Wow, 300 million USD with fee 4 cents :) very good result for Bitcoin network! 3 sat/B, 0.75 sat/WU
Amount is very huge.

Yikes that sounds like a nightmare trying to transfer that much money in one go in traditional ways. Can't even imagine how hard that would be with how much paperwork, you're right. Also, there is literally no possible way they can compete with 4 cents a transaction, and also how fast it was transferred. It might even be transferred to a part of the world that doesn't have banks.

They are probably too busy setting up another scam website or telling newbies that don't know better that Bitcoin Trash is "the real Bitcoin".

crypto has a market and many fans. and we are also among the millions who are active in the crypto market, is that enough? I do not think so. we should be more than this. the world must actually use cryptocurrency as an essential tool of necessity. like eating and drinking!

Mate they are busy somewhere in Africa spreading love and giving foods to the less fortunate kids there or let's say exploiting kids for BCH?

https://twitter.com/eatBCH_SS/status/1002630223924359168

I don't know if that twitter owner is associated with them but it promotes BCH and there are questions raised about it.

If bitcoin is doing great, let's expect them to fade....

Is a very good thing to see that huge amount of money in bitcoin can be transferred with just little transactions fees, and that is a good development compared to what we use to have some time ago when the transactions fees was almost higher then the amount to be transferred.

The low cost of transactions, that's why bitcoin will never die. And now imagine how much the transaction will cost by bank transfers.

Those people aren't transferring 300 mill.
Mostly people that do micro transactions are the ones complaining.

Lol. They can't complained right now because they are also affected by this bloodbath as well. They attacked bitcoin at all side and trying to pull it down, however they didn't realized that they will also got the same or even worst treatment because investors decided to stay away from crypto today.

But its just amazing to see millions of dollars being transferred so quick and without any hassle. And yes, bitcoin is back as the transaction fee's is quite cheap in the last couple of months and this example really shows the advantages of using bitcoin to move money so quick and seamless.

Yes, I think this is a very good feature. A lot of politicians like to talk about the dark markets and illegal activity undertaken via BTC, but the transparency of the transaction is a very good thing.

these are some of the few beauty of crypto, Time constraint (Speed) and low transactions fee which you can get while using the traditional banks

what do you generally go to Socratus

I mean at this point i am surprised it has not been adapted yet, with bitcoin we can send and receive money instantly with low fees which is an option that every investor and oversea business dream off, if only they would accept it the whole world will advance and all the financial problems will improve, but i guess adopting it does not serve the benefits of people who have the power, but hopefully one day we will be able to see it accepted and  being used internationally.

Thanks for this topic...people must know really what is the bitcoin and Its benefits instead of the stupide fake news

I actually almost pay 1k-2k satoshies when make transactions. And i see they always have confirmation during 25 minutes. Is it ok?

Although in the past you have had to pay way more than this, with the current state of the mempool you could pay less and still have quick confirmations, although at such low prices it would hardly make a difference to you.

Have a read of my previous post here (https://bitcointalk.org/index.php?topic=4559937.msg41205685#msg41205685) for links to help you calculate appropriate fees.

This is the advantage of the blockchain technology. The speed of transaction processing is fast and anonymous. perhaps for anonymous transaction reasons, the government is afraid that some people will launder money with cryptocurrency

thats the beauty of bitcoin , but it hurts most when fees are much high even upto 30 usd which i noticed in december last year . for $300m you can justify 30 usd but for small transactions not at all bearable . waiting for lightening network so that fees can be in control throughout the year .

This way of transferring money clearly shows how unique the Blockchain technology is and what is its advantage for people. Now everyone who is indignant and says that bitcoin is useless read the message above.

That's why I love cryptocurrencies. Such technologies offer incredible business opportunities. You can carry out transactions simply by having the phone in your hand. Any person on the planet wherever he is.

Bitcoin Cash will be die a miserable death in future if they dont stop calling it real bitcoin and just promoting their own agenda . rather than showing bitcoin less worthy , they should spend more time on their own project and let it grow like any other altcoin project .
But they know that bitcoin cash is just a fork with no real benefits apart from fees , neither they trying to make it unique . so they have no other option to show bitcoin inferior to bitcoin cash

I'm disappointed. In 4 pages, literally nobody noticed what's really going on!
He (whoever he is) didn't transfer $300 million, he transfered $618 (0.1BTC) to 1K7y31fJidER3XdcPTPHjNZeUTrisKbvqz  (https://www.blockchain.com/btc/address/1K7y31fJidER3XdcPTPHjNZeUTrisKbvqz). This scenario is much more likely than assuming someone just transfered $300 million in Bitcoin to someone else. The rest of the transacion (45,500BTC)/$300 million) is just the change that stays in his own wallet.

Now, if you want to compare this to fiat, it's just a multi-millionaire who buys a cheap new TV. If he would have paid in fiat, nobody would bat an eye. But he didn't, he paid with Bitcoin! And now the seller knows that he owns $300 million. That's not only a huge risk for his privacy, but also for his safety.

I can only assume most Bitcoin multi-millionairs use more than one wallet, and wouldn't be so dumb to pay a small amount from a very large balance.

Is it a transaction fee too cheap for a transaction, it is the same, Perhaps they want the transaction to be unnoticed so they slip in for a low fee, perhaps for a charge attack. double then. However, this transaction fully demonstrates the potential of Bitcoin

That's certainly a possibility, but we don't know for sure. However, I don't think it matters. Now, please correct me if I'm wrong here, as I'm a relative newcomer and you are one of the senior members whose opinion I have come to value/trust, but my understanding is as follows:

It doesn't matter if the 48,500 moved to an address in the same wallet or a different wallet, or to an address owned by the same person or someone on the other side of the world. All that matters as far as the blockchain is concerned is that it moved to a new address - the owner of that address is irrelevant.

Transaction costs are impressive, if the BTC price is stable then this is a great way to transfer money!
I hope Bitcoin and altcoin after development time will be stable to be able to use other purposes than investment!

And they dont know how much fees they paid ,they only complaining about something they dont really understand,the fees and speed about transactions are something we must be thankful this is what i have seen from my past withdrawals meaning nothing to complain now

Bitcoin pricei will never be stable because this is volatile,but if youre saying is about the regular movement of price will i agreed on you then

lol i can only imagine the hassle if it was fiat money

I think it's much more likely to pay 0.1BTC, than to pay a weird amount and keep 0.1BTC as change.

If you're looking at this from the blockchain's perspective, it doesn't matter indeed. Bitcoin doesn't care. But from the same perspective, this transaction is no different than transfering a large amount of Bitcoins when it was worth just 2 pizzas.

Your statement in the OP was this:
And that's why I argue it didn't even happen. It's more like Scrooge McDuck moving a pile of cash from one corner of his safe to another corner. That doesn't give any delays, fees or people to negotiate with.

On the other hand, if you do really make a transaction for $300 million, whether it's Bitcoin or fiat, it's very likely the deal needs to be negotiated anyway, which takes much more time than transfering the fiat. On a global scale, I don't think $300 million is an rare thing in fiat transactions anyway.

True, but this transaction proves it's possible to send that much money essentially for free, even if it didn't actually happen.


I would agree, but the point about fees still stands. I very much doubt there is a traditional financial institution anywhere in the world that would let you transfer $300 million for what is 0.00000001% in fees.

I myself am trying to imagine more of a person who has transactions at 48,500BTC, at least once a month. :o

This should be the reason that institutions should adopt BTC and cryptos. The amount of money that can be moved that fast and that cheap could save large companies millions in fees.

Woah, lightning strikes  :)
That's really cheap, I guess transferring $300 million through banks or currently existing medium will cost you few thousand dollars easily. In comparison to that, BTC transaction cost only $0.04, a very strong case to put in front of these banks :)
Even though now BTC fees are at it's lowest, don't know why these exchanges charges so hefty fees while transferring, not acceptable at all.

imagine if that was fiat money, how they could transfer that money  this efficient. so much hassle for the fiat money

Too much and too fast for a game, bitcoin is breathtaking and easy to use and safe because of the 300 million move that does not need anything and can be viewed in block chunks and is anonymous in disturbed banks as they ask the traveller they put a property they ask the government for the owner of the bank

This event really shows strong sides and advantages of blockchain technology and cryptocurrencies. But also it shows that this sphere is real competitor to bank system.

that's why i believe cryptocurrency will replace the banking system
with crypto we do not need bank approval for transfering money
be your own bank

Imagine now what speed Bitcoin will have after implementing the Lightning Network technology. Btikin will become the main means of payment, I am sure of it.

Liberation at its peak. Can you imagine how poor people are overburdened with charges for any financial transactions they make to their  relatives or business partners? This is the message everyone should see. Nobody deserves to cheat you on your hard earned money. Use bitcoin!

Exactly, but sometime the fees are getting higher but this is much more covenient comapare on making transactions with the banks. Blockchain technology really make this possible and this is why people loves cryptocurrency.

That will become the key in the future why cryptocurrency will have a huge growth in the future. Cryptocurrencies will continue be improving and more people will prefer the cryptocurrency to be used as a mode of payment rather than an investment because of its cheaper fees than the regular ways like transacting in banks.

That is a remarkable thing

This is great news and shows that Segwit has been a success. With the implementation of the Lightning Network, we can see that fee reduced to a fraction of the four cents paid. Contrary to what the naysayers claim, bitcoin is on the path to scaling.

That is pretty amazing.  It would be interesting to see an actual breakdown of what the cost would be vs traditional banking avenues.

Wow! I can't believe my eye but I'm a kind if person that believe knowledge is power and I will try up the scoop you said cause watching the transaction I already knew there's a means applied by the transaction sender.

Well....have been saying this, that low cost transaction fee can be achieved. And this is just the beginning of it. Can you imagine 300$ million sent with as low as 0.04$. That shows higher amount can even be sent with lower transaction fee and be confirmed with some minutes. Thanks to blockchain for this.

$300 millions is very high amount and the fees is very low it's only 4 cents. I don't know if that really amount that only 1 wallet have big amount. Because millions of dollars is not easy to earn so what is that amount and that is very low chance to get.

In other online business if you cashout that amount the fees is millions of dollars I think.

As far as I understand, this transaction was conducted through the network of Lightning Network and it's really amazing. I hope this technology will be implemented for public access very soon.

Even I think that that is the fee because maybe the transaction has close ties with the pool operator that is why his fee is very small, this transaction only shows how convenient bitcoin is when it comes to transactions. It didn't need to much stops or checkpoints or intermediaries for it to happen. It only needed a fee to pay so you can do transactions. Imagine if you will try to do it but in the current payment methods, i think you will pay so much money here for transferring fee and it will take so much time to transfer that huge amount of money.

Yes, this is crypto. Where we can save time and fees. And 300 million dollars is a big number. 4 cents transaction fees are something very cheap. Love it.

Well yes, crypto works like that. No matter how much you want to transfer coin, the fee will remain same.
This is one of the cryptocurrency advantage than fiat currency indeed. But sadly still not too much peoples who using crypto as a currency.

You imagine that if it is fiat money, how can they transfer this money efficiently. Too much and too fast for a game, bitcoin is spectacular and easy to use and secure because 300 million moves do not need anything and can be viewed in block and anonymous in disturbed banks. When they asked the tourists they put the property they asked the government for the owner of the bank

It is a cheap transaction by any measure. But with all that hassle that fiat transactions of that size bring on, you can be sure that your money will end up where you intend it to be. Besides, if we are talking about a contractual payment, the details of the transaction will help you tremendously in court if something goes wrong, for example, your counterparty fails to deliver. With crypto, it is still possible, but it will be a lot harder.

And I'm not talking that there is no way back to get the money if you send bitcoins to a wrong address. To err is human, and such things do happen, while with fiat it is not a big deal in the majority of cases. If you make a mistake, your payment just won't be processed. With bitcoin as well as other cryptocurrencies, you can easily send funds to a non-existing address, that is an address from which no one has the key yet, and you are instantly out of options. Yes, I know you can't use just an arbitrary combinations of characters in a bitcoin address, but this will be cold comfort if you are "lucky" to pass the checksum.