$300 million transferred for 4 cents in fees!

[awawo]

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.

[marek23]

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

[drm]

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.

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

[TravelMug]

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.

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.

[edjames]

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

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.

[9jaflick]

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.

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

[Psychee]

what do you generally go to Socratus

[Shenzou]

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.

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.

[Prince Malik]

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

[NewCenturyBTC]

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.

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

[o_e_l_e_o]

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 for links to help you calculate appropriate fees.

[tranduc2101]

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.

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

[deepgyl]

Have a look at this transaction: /btc/tx/39afcad6c4d0713ed291014315c4dcf2d81334275218c28fd354af45b7395c61]https://www.[Suspicious link removed]/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.

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 .

[_Crypto_Space_]

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.

[McDee]

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.

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.

[deepgyl]

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.

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

[LoyceV]

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.

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 . 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.

[sakamaku]

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

[o_e_l_e_o]

The rest of the transacion (45,500BTC)/$300 million) is just the change that stays in his own wallet.

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.

[mmo4me.2016]

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!