tell me something , how come this hash fee almost same like as the amount of transaction ? is this normal ? #nostr #bitcoin
Discussion
Given the output size is well under recommendation of 1Msat for onchain transaction, and even under 100Ksat I interpret this as an attack on Bitcoin bloating the utxo set
Way off base, fam. 💁♂️
This is completely normal usage, the user just doesn't understand how transactions work. 🤙
It's a consolidation transaction (a group of small balance addresses in the same #Bitcoin wallet being moved into a single address). 💁♂️
Each #BTC address included in a transaction has a data size, so consolidating makes the transfer "heavier" data-wise & will raise the fee due to the larger virtual size. In addition to that, they have also put the fee rate pretty high (at 5.05 sat/vB) for faster settlement. 🤷♂️
They should have set the fee rate to 1 sat/vB & just waited; it would have only cost them ⅕ of what they actually paid. 🤙
What wallet do you use?