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RoxxR (OP)
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January 29, 2014, 05:30:58 PM |
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So I just witnessed a poor chum paying $75 in fees to move 0.61 BTC (about $500)! How can this happen? Tell me this is a wallet bug.  |
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7Priest7
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January 29, 2014, 05:36:18 PM |
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This is what we(in the I.T. business) refer as to as a error 4.
The error is roughly 4 inches in front of the screen.
An old saying "A fool and his money are soon parted."
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EcuaMobi
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Activity: 1862
Merit: 1469
https://Ecua.Mobi
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January 29, 2014, 05:37:09 PM |
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This is what we(in the I.T. business) refer as to as a error 4.
The error is roughly 4 inches in front of the screen.
An old saying "A fool and his money are soon parted."
Hahaha yep. He must have entered the fee manually and missed 1 or 2 (or 3) zeros. |
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BADecker
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Activity: 3780
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January 29, 2014, 05:52:41 PM |
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You need to keep an eye on the Bitcoin client when doing transactions. I have caught my client making mistakes. Of course, they could have been my mistakes, or maybe I need a new keyboard or mouse, or a better OS, but the point is to double check everything all the way.  |
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stan.stan
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January 29, 2014, 05:58:27 PM |
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You need to keep an eye on the Bitcoin client when doing transactions. I have caught my client making mistakes. Of course, they could have been my mistakes, or maybe I need a new keyboard or mouse, or a better OS, but the point is to double check everything all the way. Great piece of advice , I am new to bitcoining also and believe me i could've made a lot of mistakes if not for the fact that i decided to pay attention to whatever bitcoin payments i am making. The decimal system associated with Bitcoins can be very confusing at times  |
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BTCisthefuture
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January 29, 2014, 06:12:14 PM |
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maybe he's just a very charitable guy  |
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7Priest7
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January 29, 2014, 06:42:17 PM |
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maybe he's just a very charitable guy BTC fees don't go to any charity. They support large mining business mostly, said businesses are pretty well supported without fees. |
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notme
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January 29, 2014, 06:47:57 PM |
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maybe he's just a very charitable guy BTC fees don't go to any charity. They support large mining business mostly, said businesses are pretty well supported without fees. Anyone mining with currently available hardware is mining at a loss. |
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DeathAndTaxes
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Gerald Davis
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January 29, 2014, 06:49:52 PM
Last edit: January 29, 2014, 07:27:41 PM by DeathAndTaxes |
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The default fee for that transaction would either be 0 or 0.1 mBTC ($0.08) so this was selected by the user. However I do think it would be a good idea if the client warned users before doing something that 99.9999999999% of the time is simply a mistake. Paying a fee 100x what is required is almost always going to be a mistake and for the one in a million that it isn't the user could always override the warning. "WARNING: You are about to send a transaction with a fee of 90 mBTC per kB. This is 900x the minimum fee required, and more than 450x the average fee paid by Bitcoin users in the last 24 hours.
Are you sure you wish to pay a fee of 90 mBTC?
[Yes - Send with 90mBTC fee] [No - Cancel Transaction] [No - Reduce fee to 0.1 mBTC]
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boumalo
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Merit: 1018
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January 29, 2014, 07:05:45 PM |
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The default fee for that transaction would either be 0 or 0.1 mBTC ($0.08) so this was selected by the user. However I do think it would be a good idea if the client warned users before doing something that 99.9999999999% of the time is simply a mistake. Paying a fee 100x what is required is almost always going to be a mistake and for the one in a million that it isn't the user could always override the warning. "WARNING: You have selected are about to send a transaction with a fee of 90 mBTC per kB. This is 900x the minimum required, and more than 450x the average fee paid by Bitcoin users in the last 24 hours. Are you sure you wish to pay a fee of 90 mBTC?
[Yes - Send with 90mBTC fee] [No - Cancel Transaction] [No - Reduce fee to 0.1 mBTC]
Yes that would be a nice idea. It is not all about the technology, it is also about having a user friendly system and adoption |
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Welsh
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January 29, 2014, 07:10:38 PM
Last edit: January 30, 2014, 03:52:29 PM by Welsh |
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You need to keep an eye on the Bitcoin client when doing transactions. I have caught my client making mistakes. Of course, they could have been my mistakes, or maybe I need a new keyboard or mouse, or a better OS, but the point is to double check everything all the way.
Most likely your own mistakes a program can't do what it is not told too it doesn't have a brain. Although, it's wise to always double check the entries you have input just in case you have made a mistake. The default fee for that transaction would either be 0 or 0.1 mBTC ($0.08) so this was selected by the user.
However I do think it would be a good idea if the client warned users before doing something that 99.9999999999% of the time is simply a mistake. Paying a fee 100x what is required is almost always going to be a mistake and for the one in a million that it isn't the user could always override the warning.
This should be put into place because we all make mistakes even if you do less than the default amount there should be a warning to prevent people from either losing Bitcoin or having to wait a long time. "WARNING: You have selected are about to send a transaction with a fee of 90 mBTC per kB. This is 900x the minimum required, and more than 450x the average fee paid by Bitcoin users in the last 24 hours. Are you sure you wish to pay a fee of 90 mBTC?
[Yes - Send with 90mBTC fee] [No - Cancel Transaction] [No - Reduce fee to 0.1 mBTC]
Having something like this with the extra facts would be a pretty nice feature, people would be able to find a amount that they are happy with and know what others are doing also. Although, if you are using a older version of the software which had a lot higher fees then this could be a problem. |
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escrow.ms
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January 29, 2014, 07:19:17 PM |
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Umm wait, check source of these funds, every transaction paid 0.09 BTC as fees https://blockchain.info/address/1KFLukhxubJw2bTV28G5QRzJSVcBQSTYA6Incoming transaction (Fee: 0.09 BTC - Size: 226 bytes) 2014-01-28 18:18:48 Outgoing transaction (Fee: 0.09 BTC - Size: 226 bytes) 2014-01-29 17:24:36 |
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QuestionAuthority
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You lead and I'll watch you walk away.
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January 29, 2014, 07:30:09 PM |
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Mistakes like this happen with fiat too. I have used $100 bill to pay for something at a store and had the cashier almost short change me by $20. Bitcoin is money people - pay attention!
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zimmah
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January 29, 2014, 07:45:42 PM |
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maybe he's just a very charitable guy BTC fees don't go to any charity. They support large mining business mostly, said businesses are pretty well supported without fees. Anyone mining with currently available hardware is mining at a loss. bullshit, my miner is still profitable and i'm even using BFL (which is trash really) oh and i live in europe, electricity is very expensive here because of the heavy taxes on electricity. |
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MakeBelieve
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January 29, 2014, 07:58:34 PM |
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maybe he's just a very charitable guy BTC fees don't go to any charity. They support large mining business mostly, said businesses are pretty well supported without fees. Anyone mining with currently available hardware is mining at a loss. bullshit, my miner is still profitable and i'm even using BFL (which is trash really) oh and i live in europe, electricity is very expensive here because of the heavy taxes on electricity. It's a wonder that you recieved it let alone make a profit if electric is so expensive in europe how are you making a profit? |
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Dukester797
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January 29, 2014, 08:43:15 PM |
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One expensive mistake. I wonder if they even noticed.
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Aleksp92
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January 29, 2014, 08:47:38 PM |
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Haha I bet hes on the forum saying shit.
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EcuaMobi
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https://Ecua.Mobi
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January 29, 2014, 08:48:22 PM |
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Shit!
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ZephramC
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January 29, 2014, 08:52:56 PM |
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maybe he's just a very charitable guy BTC fees don't go to any charity. They support large mining business mostly, said businesses are pretty well supported without fees. Anyone mining with currently available hardware is mining at a loss. Well... no. Probably it is the other way around. Anyone mining at a loss will cease mining immediately. (There are people mining out of enthusiasm, though.) |
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