Recently i came to know that there was a 800M$+ transaction with fees around 1$,how is this remotely possible?
To my knowledge the transaction fees is actually a reward for the mining computers for successfully helping us create a block on the block chain.With such low fees wouldnt miners be discouraged to do so i.e. wouldn't mining become less profitable.
Also bitcoin can never become proof of stake unlike other coins,so where does this leave us ?
Most likely, the pool was not loaded, the user very wisely chose the time for the transaction, the experienced means, most likely a whale or a market manipulator. In general, you should always learn from such people and analyze their actions, so as not to waste your deposits later.