Post
Topic
Board Bitcoin Discussion
Re: Ouch, today someone made a transaction with over $500k fee.
by
Z-tight
on 12/09/2023, 14:00:39 UTC
If anything, it shows how dangerous Bitcoin can be, because it allows such things to happen. So this should be a reminder that with Bitcoin you are your own bank, meaning you are responsible for checking your transactions and no one else.
You are responsible for checking your trasactions when you want to make a payment using any payment method, even if it is a centralized payment method, the only difference here is that BTC tx's can't be reversed, whereas many centralized payment systems are reversible. BTC is not dangerous because people make mistakes that they shouldn't make, it is easy to check the fee rate and fee you are about to use before making your tx, this only happens when people are either careless or are using poorly created automatic payment systems.