A Bitcoin person paid 83.7 Bitcoin (BTC), value $3.1 million, in transaction charges for transferring 139.42 BTC. The transaction price of $3.1 million is the eight-highest in Bitcoin’s 14-year historical past.
The BTC pockets deal with bc1qn3d…wekrnl tried transferring 139.42 BTC to bc1qyf…km36t4 on Nov. 23, solely to pay greater than half the precise worth within the transaction price. The vacation spot deal with acquired solely 55.77 BTC. The mining pool Antpool captured the absurdly excessive mining price on block 818087.
Customers on social media urged that the sender could have chosen the excessive transaction price, however the replace-by-fee (RBF) node coverage and the sender’s unawareness additionally seem to have performed a component. RBF permits an unconfirmed transaction within the mempool to get replaced with a distinct transaction that pays the next transaction price to get it cleared earlier. The mempool is the place all BTC transactions are queued earlier than approval and addition to the Bitcoin blockchain.
A mempool developer who goes by mononaut on X (previously Twitter) mentioned the person behind the switch most likely didn’t know RBF orders can’t be canceled. The person might need repeatedly changed the charges in hopes of canceling it. The RBF historical past signifies that the final alternative elevated the price by one other 20%, including 12.54824636 BTC in charges.
This isn’t the primary time a Bitcoin person unintentionally despatched an absurdly excessive transaction price for a single Bitcoin transaction. In September, Bitcoin alternate platform Paxos unintentionally despatched a $500,000 transaction price for a $2,000 BTC switch. In that incident, the F2Pool miner who verified the transaction returned the $500,000 unintended transaction price to Paxos.
Nonetheless, that is the biggest Bitcoin transaction price ever paid in greenback phrases, knocking the September Paxos switch of $500,000 off its unlucky podium. The most important price in Bitcoin phrases was paid in 2016 when somebody unintentionally despatched 291 BTC in transaction charges.
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Mononaut instructed Cointelegraph that though the present occasion of an unintended transaction price is similar to the Paxos case, the likelihood that Antpool would return the funds would rely upon their very own payout insurance policies, ”which could have implications for what obligations they should share transaction charges with their miners.”
Antpool has but to touch upon the difficulty and has but to reply to Cointelegraph’s requests for feedback.
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