Someone just paid 83BTC for transaction fee,

[mvdheuvel1983]

I heard a few cases like this which is a very costly mistake, I didn't know if this is a newbie or not.

A similar error occurred in September when Paxos paid around $500,000 transaction fee on a Bitcoin (BTC) transfer. It was an overpayment. Well, they were lucky that the miner who verified the transaction returned it. The best news on the internet will be if we read out the miner who would verify this overpayment return it. It is just some very silly mistake either made in the moment when the sender wasn't paying attention to details. That is why is it good to be in the moment when making transactions as this. Between overpaying transaction fees and sending bitcoin to the wrong bitcoin address, I wonder which is worse.

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[Lamkuthang]

2. The replaced transaction ID: 0c35f3c8a0c38f45629940ee9ab2b1c93d408be113845a735043261ad20f3351

Advice to newbies check properly the amount your setting as fee and make sure you are looking at the right fees estimator, use wallets that allows bumping of fees in case you set a very low one

Wow. It's quite a big deal if you cash it in. Yes. We have to be careful and not rush into transactions, especially if the amount is large. I also checked that the transaction seemed safe and the balance received and withdrawn also only reduced the fee slightly.

[iBaba]

This is not a new type of 'mistake' and after many times, I started to think it is not mistake at all.

Those overpaid transaction fee is like a plan from someone to fud the market. It can be used as news like Bitcoin is risky, you can lose money by mistake when broadcasting your transaction and Bitcoin blockchain is irreversible so you will not get your money back. Something like this is in my mind.

There are times mining pools allow senders of those overpaid transactions to provide proof of ownership and claim those bitcoin back.

20 BTC as transaction fee
Bitcoin Miner F2Pool Returns 19.8 BTC to Paxos After Overpaid Fee
80 BTC as transaction fee
Accidentally pay an 80BTC transaction fee? Please contact us for a refund!

While I will love to agree with you on this, I am still surprised that someone could take this bold take and assume it to be a mistake. I think regardless of whatever the aim was, which I will support you in this case, this is marvelously interesting. The thing is, if it was not some sort of deliberate act to FUD the market, how on earth will this wallet holder be careless to make this momentous mistake of pushing out Bitcoin worth of  millions of dollars as a mistake.

I will be interested to read more information about your perspective and what could have really been the reason why such mistake or at least acclaimed mistake was made.

[Upgrade00]

I normally will assume transactions like this are not mistakes, cause anyone who holds such amounts will be able to easily navigate making a transaction without losing millions of dollars mistakenly. This will suggest that there is a possible money laundering going on, but money laundering is not meant to be obvious or public, but a ridiculous amount for tx fee will attract lots of attention.

As ridiculous as it is, I will assume that the are mostly mistakes and if they are not, money laundering is not the purpose of the transaction.

[Fatunad]

As we all know the transaction fee continues to get high as the mempool remains congested for almost a month now due to reoccurring ORDI tokens on the bitcoin blockchain. This has left some people a bit furious and some newbies making costly mistakes of setting high transaction fees.

A transaction that was in block 818087 had actually paid a whopping sum of 83 bitcoins as the transaction fee. I would say this is a costly mistake but for someone having that huge amount of bitcoin in their possession I don’t get it. The transaction was first broadcasted with a fee of 70 bitcoins and then later was replaced with that of 83 bitcoin as fees.

My guess is the sender was probably trying to set is fee as 70 and 83Sats/vbyte and then mistakenly set out that high fee. The block was mined by Antpool, hopefully they would treat it as mistake and return the funds.

1. TXID for the 83 bitcoin fee: b5a2af5845a8d3796308ff9840e567b14cf6bb158ff26c999e6f9a1f5448f9aa

2. The replaced transaction ID: 0c35f3c8a0c38f45629940ee9ab2b1c93d408be113845a735043261ad20f3351

Advice to newbies check properly the amount your setting as fee and make sure you are looking at the right fees estimator, use wallets that allows bumping of fees in case you set a very low one

Really that hard to believe that those people who are owning tons of Bitcoin is really considered as a newbie or someone who doesnt even know about basic operations. It is really just that impossible to believe on.

Okay lets say that someone had stored up those coins in electrum, so bumping up fee could be possible but its really that impossible that you cant really be able to read up
that sat/byte thing before you would be sending out your coins but well if this is the case then it is really just that costly mistakes but we've seen similar
situations back in the past about passing up huge amount of fee or making use of it.

Pools that had able to confirm it out or such transaction would really be that basically be returning out those things. As long this one creates too much
noise then community would really be have that normal approach and making reaction then it is normal that they would be returning it out or
even something that ethical on doing so.

[coupable]

This is not a new type of 'mistake' and after many times, I started to think it is not mistake at all.

Those overpaid transaction fee is like a plan from someone to fud the market. It can be used as news like Bitcoin is risky, you can lose money by mistake when broadcasting your transaction and Bitcoin blockchain is irreversible so you will not get your money back. Something like this is in my mind.

Yeah, The amount is too much for just a mistake no matter how huge his holding. Also the most shady thing on this news was the fee is originally set high with 70BTC which is too high not to be notice. Also this kind of huge fee surely be immediately included in the block since it’s above average.

I also do not think this happened by mistake because the number is too large to be mistakenly identified as a fee.  The sender can ask the mining pool to return the money to him after proving his ownership of the sending address.  Although this is not certain to happen, we should at least hear of an attempt.
The hypothesis that I find most logical is an attempt to launder money since miners can confirm their transactions themselves.  It's a good deal for the miner to launder that huge sum in exchange for only paying a small percentage of it in taxes.

[Nwada001]

This is really a one-in-a-lifetime mistake, and if this is not reversed, this person will forever remain to live with this regret. It's obvious the person has more than enough BTC in that wallet, which makes it easier for the transaction to go without warning or insufficient balance.
 
And can this mistake also be linked with the one that happened in the pass, which was not up to two months well, and it was later recorded that the amount was returned back to the sender, which they claim was a mistake from the wallet?
 
But how can someone who has such an amount of money in their wallet make such a big mistake? It now seems as if we who have a lesser amount of money in our wallet seem to be taking some security measures very seriously than the others. If such an amount is sent to the wrong wallet and not used for transaction fees, what else do you think will happen, if not turn an innocent person into a wealthy person?

[jrrsparkles]

A transaction that was in block 818087 had actually paid a whopping sum of 83 bitcoins as the transaction fee. I would say this is a costly mistake but for someone having that huge amount of bitcoin in their possession I don’t get it. The transaction was first broadcasted with a fee of 70 bitcoins and then later was replaced with that of 83 bitcoin as fees.

If that's is not money laundering, I don't know what else to call it. I will assume that's a miner transaction because I don't think this is a mistake but a deliberate one. The first time a 70 amount of bitcoin was use as fees and then replace it with a bigger fee, don't you think something is off. If it was a genuine mistake, he would have probably override the transaction to a lower fees the soonest he realized the mistake but bump the fee by +13 bitcoin, that's deliberate action.

I would say it is a kind of mistake and why we see the fee increase 70 btc to 83btc is the user tried RBF soon after acknowledging the mistake but he is not aware that with RBF the fee can be only increased not possible to decrease so while trying to correct the mistake he lost another 13BTCs. But we saw similar incidents and the pool returned the excess amount like in Paxos case so probably we can expect the Antpool to act in the same way.

[Hyphen(-)]

I normally will assume transactions like this are not mistakes, cause anyone who holds such amounts will be able to easily navigate making a transaction without losing millions of dollars mistakenly. This will suggest that there is a possible money laundering going on, but money laundering is not meant to be obvious or public, but a ridiculous amount for tx fee will attract lots of attention.

As ridiculous as it is, I will assume that the are mostly mistakes and if they are not, money laundering is not the purpose of the transaction.

This will be a mistake, but for person to hold such amount of Bitcoin, he/she should have enough knowledge to know how to customize transactions fee to avoid such mistakes because this is a costly mistake that no one will want to make.

Nevertheless, it also looks like money laundering, but even if it one, the fee is very high to make it obvious, unless if it is been done intentionally just to give the Bitcoin out to the miners.

[rachael9385]

As we already know that based on the high fee rate a lot might have put their coins under a blanket because they don't want to make sure a hug mistake while selling of sending their coins out.
However, it is a good idea if we don't just selling our coins under pressure because most of these mistake are been caused while selling or sending out of pressure just because most of them just want to get profits.
Although, for an investor to have such an amount of BTC on his wallet, that means he or she has enough than what he used for transaction fee, moreover it is a sad story because such a thing is not done out of consciousness rather than a mistake.

[dothebeats]

I'll be damned if I ever see that high of a transaction fee in some of my transactions. If possible, I always go for the most economical route that gets the transaction confirmed within the next block. Call it as being frugal or skimping, but that's one of the selling points of crypto: cheap transaction fees. I'm surprised the sender didn't realize that he's putting an absurd amount of money just for fees, and if they're someone who has this amount of crypto, I'm pretty sure they know that something isn't right before they sign and broadcast that tranasaction.

[o48o]

It might be also a part of  money laundering scheme. Pools are free to include into candidate block its own transactions which are "hidden" for other miners till that block is mined.

The pools with  enough  calculation power are even have capability  to mine a few blocks that are not visible to other miners. This is cold a selfish mining.

I never even thought about this, but this is most plausible theory, and i do have to admit it's pretty clever way to launder money.
Although i am guessing that this isn't going to be efficient way for much longer if people are paying attention to this, and watching the money closely.

I am not sure if officials have yet enough resources to learn and track every new way though.

[DaveF]

Never attribute to malice something you can attribute to stupidity or incompetence.

Could someone be trying to do something wrong? Sure.
Could someone who realized they made a mistake made an even bigger one in a panic trying to fix it? More likely.

Will we find out? No, we will find out what people tell us happened or at least the released public story of what happened. Would that be the truth? Who knows.

-Dave

[boyptc]

Millions just to make a mistake? Come on.

Someone who owns that much is aware on how to adjust fees and how to make transactions. Whether we give the benefit of the doubt from this transaction and whoever has done it.

It's very unlikely that someone will assume these adjustments and fees are normal and won't take a second or third look before pressing that send to proceed for the transaction.

[serjent05]

A transaction that was in block 818087 had actually paid a whopping sum of 83 bitcoins as the transaction fee. I would say this is a costly mistake but for someone having that huge amount of bitcoin in their possession I don’t get it. The transaction was first broadcasted with a fee of 70 bitcoins and then later was replaced with that of 83 bitcoin as fees.

Is this actually a mistake or being ignorant, even if he transaction being made is that huge, it shouldn't have occurred that one is paying this huge sum for making payments, I was shocked in the first place when i saw this, thinking that maybe it was $70 that was intended and not in btc, if this was actually true, then i also wonder how the fund in question was acquired, there's more to know about this incident.

I do not think it is a fat finger mistake, there is a huge difference in size.  It is either a defective software(highly not possible if they download the official software of a known Bitcoin wallet) or just like the early reply is saying, trying to launder a certain amount by making it go through transaction fee, or some people are into a propaganda of making people trust large mining pool since these pool refund any excessive amount of transaction fee as the history of huge transaction fee error stated.

Advice to newbies check properly the amount your setting as fee and make sure you are looking at the right fees estimator, use wallets that allows bumping of fees in case you set a very low one

If from what you guess is right, then the sender is the one at fault from his mistake, we need to check ad always double check anything we are doing before making a confirmation for that.

It will never be a fault of a miner since the person who did the transaction is the sender himself.  If we are using electrum, there is always a pop up and notification on how much we are paying for transaction fees so it is really very hard to think that a person will make a mistake in adjusting transaction fee unless the person is high on drugs or intoxicated, I do not know about other non-custodial wallet though.

[Myleschetty]

As we all know the transaction fee continues to get high as the mempool remains congested for almost a month now due to reoccurring ORDI tokens on the bitcoin blockchain.

One of the main reasons for the mempool congestion is actually the Inscription/BRC-20 worthless JPEG which the holder will wish they didn't buy in the future.
Although, the current congestion is different from the previous market but the mempool always experiences congestion when the halving market is coming and this is always the moment people pay ridiculous all in the name of making transaction but the miners always love it.

[Marvelman]

Makes ya scratch your head, dunnit? Payin' 83BTC just for the transaction fee? That's nuts.  Seems like wallet apps oughta have some kinda pop-up or somethin' to keep folks from makin that kinda expensive mistake.  Shouldn't be on users to catch stuff like that - they need a heads up when the fee's about to go through the roof. 

[Mr.right85]

Mistakes! That’s the one way this sort of transactions can result, by means of error.
Good enough, we’ve got miners who are reasonable enough to understand what must have been the case and often choose not to punish the error by refunding over paid fees back to the sender address.

People have to be real calculative while making transaction’s especially in times of fee hikes as these. I guess having so much on your alley calls for a little carelessness.

[terrific]

Is Antminer going to give that back to the person who did it? Or they are the one who did the transaction and just did it to launder that money..

Nevertheless, it also looks like money laundering, but even if it one, the fee is very high to make it obvious, unless if it is been done intentionally just to give the Bitcoin out to the miners.

Like what everyone is thinking, it's possible that they're money laundering with that amount because that's easier for them to go through have it paid to the miners.

[nakamura12]

The untrue is all blocks are public on blockchain and the public ledger. You can see it on block explorers and what do you mean by 'are not visible to other miners"?

Not only other miners but many Bitcoin full nodes can see it too.

I agree that transactions are visible and not invisible to other miners. If what he meant is where the transaction is not yet broadcasted in the pool then I will believe because I tried it myself where I make a transaction and have the transaction hash but I didn't see it or no search result when I checked it on the mempool until a few minutes then you can finally see it. Anyway, if it isn't what I explained then I don't believe that it is invisible to other miners and I don't know where he get it or learn it.