Post
Topic
Board Development & Technical Discussion
Re: Why do some people pay illogically high fees for transactions?
by
bettercrypto
on 16/05/2023, 08:53:49 UTC
Those transactions do not look like transaction send from exchanges that the withdrawal fees are very high. The sender mighty have made a mistake and used too high fee. There are some people in the past that mistakenly used too high fee. If it is because of a reason, I think the senders will be the one that can best answer the reason.

Those are really insane fees and I would never do such stupidity while transacting. I mean I am checking the fees at least twice and thrice before broadcasting from the wallet. Most of the wallets are showing the fees clearly in vbyte and you can even see the fee previews (e.g. mycelium). It clearly gives you multiple options such as priority, economic, normal, regular with the fees based on them.

I really don’t understand how one could miss that process and just finish the broadcasting. I have literally closed the wallet if I am not sure about the fees or bitcoin address that I copied.

It seem careless handling of the wallet.

Who wouldn't get a headache from such high transaction fees that you will do with bitcoin if you only took out $40 in bitcoin last week, all you have left is less than 50% of the amount you took out in size of fees.

        That's why what others did who didn't have much need to withdraw bitcoin was to wait for the situation to subside and others who were in a situation of need had no choice and still made a transaction even though the fees were almost unfair if we look at the experiences of others.