Re: Why do some people pay illogically high fees for transactions?
Look at this Transaction[1]. It paid 15x more than it was necessary to get confirmation. It paid $38.77 in fees for transaction that worth $180. If you have a look at old transactions of this wallet, it was always paying optimal fees.
I don't really know what happened there, while it paid 5x more than recommended, actually $10.56 was spent in fees while transacted amount was $1.41, check: Transaction[2]
And here - Transaction[3], someone even paid 56x more.
Is this done on purpose by some miners to increase the overall transaction fees and collect more fees?
Edit: I had to open this thread on Bitcoin Technical Support board, sorry
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I don't really know what happened there, while it paid 5x more than recommended, actually $10.56 was spent in fees while transacted amount was $1.41, check: Transaction[2]
And here - Transaction[3], someone even paid 56x more.
Is this done on purpose by some miners to increase the overall transaction fees and collect more fees?
Edit: I had to open this thread on Bitcoin Technical Support board, sorry
.first off you don't understand miners at all if you need to ask that question.
I have a thread that explains how major pool operators can jack fees up and still make money do in.
You need to have control of 30% of the network to do the manipulation I explained in the thread.
https://bitcointalk.org/index.php?topic=2634505.0
Now why a person is willing to pay the fees you found I don't know.
I do know why these fees are fairly high and will continue to be high.
BTC has a flawed fee setup that can be manipulated.