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Jameson Lopp 1y ago

OKX spent $18,000,000 in transaction fees consolidating UTXOs yesterday and they likely could have accomplished their goal for under $1,000,000 if they had been more prudent. 😬

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rejon 1y ago

wow

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Slipstream 1y ago

Soon we'll have consolidation firms for UTXOs in the same way we do for debt

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jonathan 1y ago

How would that work?

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Slipstream 1y ago

It was mostly a joke, but, I can imagine an agency that fronts consolidated capital (at a discount) in exchange for directly taking possession of the private keys.

Fully trusted of course. This would probably only be in the realm of large corporations

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MindMining 1y ago

Or, "why was time of the essence to this particular exchange"?

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mike 1y ago

My Guess was close at $21M 😂

nostr:note19y7cpazuzgcpuevvykqffja009fptv375hqkl244sn2xkrhuh8tqscjj98

nostr:note128cql6lak53fpk3ehgp0cgcgq9duz8jgxrfa8spnrjcujlqrpk7s9llllh

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mike 1y ago

Do I get a prize for guessing $21M ? 😂

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Neo ⚡️ 1y ago

Why? 😳

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Jameson Lopp 1y ago

They said their engineers were testing a new script. Apparently they didn't test their fee estimation to prevent bidding against themselves.

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Neo ⚡️ 1y ago

😅

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Steve R 1y ago

Bitcoin: making the dumb tax great again

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NotBiebs and 69 others 1y ago

FAFO 😂

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Bitcoin Wizard 🧙🏻‍♂️ 1y ago

and now we can imagine how the other decisions are made at this company...