Oops - 20BTC fee paid on .05 transaction?

[ZeWaren]

Send them to me next time. 

[1714739152]

1714739152

[1714739152]

1714739152

[1714739152]

1714739152

[1714739152]

1714739152

[Zr1trader]

CLick Click Click, weeza all gunnna be rich!

Dude learned a valuable lesson. and costly one at that.

Jesse Livermore an old speculator in the 1900's would lock himself in a JP morgan vault with his 100's of millions once a year to tally his totals for the year so that he knew that he was actually trading something that had value and not just points on a piece of paper.

He commited suicide broke and penniless in the end so I guess it all comes out in the wash anyhow.

[EnderHf]

Damn I feel for the dude I lost .068 btc cause of my stupid ass trying to use satoshidice and I didn't realize that they had a minuim fee somehow I sent all of my btc .

[BorderBits]

currency of the future!

[BlueMonkey]

shouldnt be gambling with bitcoins....       

That the lesson

[PrintMule]

I keep telling you - divide your bitcoins across different services/exchanges/wallets and you will be spared these dumb mistakes

[quone17]

I keep telling you - divide your bitcoins across different services/exchanges/wallets and you will be spared these dumb mistakes

Yes I try to do this as well. I get nervous Ben sending tc worth a couple hundred dollars. It all seems very new and almost anything seems like it can happen in the btc world. At least for now while it's newer

[Ruzka]

That sucks so badly all of his money in that fee

[taltamir]

It sounds like he created the transaction using brainwallet.org from a brain wallet address to the payee address without a change address. So there is 20.199BTC input and 0.05271705 BTC output.

https://en.bitcoin.it/wiki/Transactions#Output

Any input bitcoins not redeemed in an output is considered a transaction fee; whoever generates the block will get it.

this is infact what happened

[–]aliens_exist_1 11 points 3 hours ago
Nope, I was using brainwallet, and I could've sworn that in the box next to source address I had the my total balance, and in the box next to destination I had the ~0.05 I intended to send

[–]ummhaha 37 points 4 hours ago
I'm sure you did, because that's exactly how the transaction was structured.
When you spend from a brainwallet, you must spend ALL your funds. The difference goes into the fee.

talk about an expensive lesson 

Note to self, never use brainwallet

[CoinGeneral]

The person who did this transaction fee shows himself

Here
https://bitcointalk.org/index.php?topic=373807.0

and Here
http://www.reddit.com/r/Bitcoin/comments/1t1nvl/i_accidentally_sent_a_brainwallet_transaction/

Yes it was due to a brainwallet issue

[TierNolan]

Even for the 20 BTC fee, I still think the restriction should be done in the client side. The mining node has no reason to forbid people to pay 20BTC fees, and maybe the user just want to ensure the transaction to be included in a block as soon as possible.

The particular miner has no incentive to reject.  The other miners have a slight incentive to reject since it helps protected the reputation of the protocol and it's not like they get the fees for that particular transaction.

It could be implemented as a soft fork.  Transactions are invalid if the fee is to large by some definition.  If more than 75% of the inputs are paid to fees, then the transaction should be rejected.

[hilariousandco]

I keep telling you - divide your bitcoins across different services/exchanges/wallets and you will be spared these dumb mistakes

Or just double check you don't send a 20BTC transaction fee.