I sure wouldn't want to be the guy hitting send on that transaction!
For those worried about the bitcoin fees, you simply are moving enough money!
I know, rich people problems right.
Unfortunately that is probably not something applicable to most of us, myself included, but it is nice to see what is possible never the less.
Someone just sent roughly $165 million in bitcoin and paid a fee of roughly $1.20 in order to do so.
Sees:
(Source: ~~~ embed:1336122995652218880/photo/1) twitter metadata:Y29pbmJlYXN0bWVkaWF8fGh0dHBzOi8vdHdpdHRlci5jb20vY29pbmJlYXN0bWVkaWEvc3RhdHVzLzEzMzYxMjI5OTU2NTIyMTg4ODAvcGhvdG8vMSl8 ~~~
And they said bitcoin fees were a problem!
Yes I know that if bitcoin prices skyrocket, fees will absolutely become a problem again, but we aren't there yet or anywhere near there.
This person paid a transaction fee of roughly .00000073%!
How's that for a transaction fee.
Stick that in your pipe and smoke it legacy financial system!
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i just bought aprox $300 of Dec on uniswap. Eth fees cost me more then that. fk guess i gotta spend more! lol
You're just not using enough money, needs more!
That is akin to we have to spend our way out of this recession.
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Try to do that at a bank.
Can you imagine the paperwork he would have to go through to move that kind of money through the banking system?
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Think about gold.
Nightmare.
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Cocaine is even worse.
LSD is easier.
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Especially when you find out those gold bars you have been hoarding are simply gold plated tungsten bars.
Fun fact : This was the exact sentence used by Nakamoto while explaining BTC to his wife .
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I thought he was gay.
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And how long it would take to complete the transfer.
Any clue as to how much it would cost to move that amount of money in a regular way through banks?
This is clearly a big reason of the attractiveness of crypto for the whales out there.
No idea. I have never tried to move anything like this. I would guess the number in is the thousands though.
Satoshi Nakamoto will be so happy looking at this .
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who knows, maybe he is looking, and feels so happy now. Who knows?
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I thought DOGE was the king of small fees.
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Damn, the fee is so low that it's ridiculous!
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It's irrelevant!
For example, in my country banks charge 0.03% of the transaction regardless of the amount.
Imagine, it would be $49500 to make that transaction, and maybe even more for taxes on large dollar amounts due to new laws in Venezuela. So I calculate that more or less 150000$ would be taken from you by the bank for making such a transaction.
The banking system is bleeding us all dry, which is why there are many better alternatives.
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Exactly. Bye bye banks.