$300 million transferred for 4 cents in fees!

[Clark05]

$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.

[_crypto_moon_]

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.

[airdnasxela]

Have a look at this transaction: 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.

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.

[dimastegar]

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.

[Raggie]

Have a look at this transaction: 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.

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.

[kimcuchospital]

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

[tee-rex]

Have a look at this transaction: 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.

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.