Post
Topic
Board Development & Technical Discussion
Re: Who is paying very very large fees when not needed and why?
by
LoyceV
on 17/07/2021, 09:52:56 UTC
Lol, they've increased withdrawal fees to 0.00057 BTC.
Hahaha, what? Taking a look at their last withdrawal transaction which was broadcast: https://mempool.space/tx/8d6454fbdfe1ba950ebbfbd79a2a389640a63074effcff9060180bcfe690f24f
38 outputs, total fee of 38*0.0057 = 0.02166 BTC. Even with their ridiculous 100x overpayment fee of 0.002009, they still make a nice profit of 0.019651 BTC, over $600 at current prices, on a single transaction. They have made 20 such transactions in the last hour alone. $12,000 an hour taken from their users for no reason.
To be fair: they also pay to consolidate inputs, but that's not included in this transaction. I've said it before, but again: a much fairer system would be to charge a fee on deposits, but that doesn't fit their business model: they want deposits, and they don't want withdrawals.