Post
Topic
Board Bitcoin Discussion
Re: Can Someone Explain This Transaction?
by
jesse628wallick
on 13/03/2024, 12:00:02 UTC
I was browsing recent transactions and came across this one from a few hours ago. It caught my eye since it was 82,273 sat/vB, i.e., $24,663  Shocked

The high rate was not the only thing, it seemed to have had the fee bumped 6 times in about 5 minutes, it had started at about a 24,181 sat/vB, quite a bit lower but still much higher than necessary.  Huh

But it gets weirder, it is sending about .91 bitcoin from 2 addresses and sending to the SAME addresses.  Roll Eyes

Is there any logic to what was happening?

https://mempool.space/tx/55656790f55216e6a6d8b03d041499c24de3105473c59c67e5dafe0362d0e9e9



The transaction you’re describing does seem unusual, particularly the high fee rate and the fact that the bitcoins were sent from and to the same addresses. Here are a few possible explanations for what might have happened.

Consolidation of Funds Bitcoin transactions can involve multiple inputs and outputs. It’s possible that the transaction was consolidating funds from smaller amounts spread across different addresses into a single address for easier management.
Fee Bumping The fee rate increasing six times in a short period could be due to a practice known as “fee bumping,” where additional fees are added to a transaction to speed up its confirmation during times of high network congestion.
Change Addresses In Bitcoin transactions, change is often sent back to a new address owned by the sender. However, it’s not a rule, and sometimes the change can go back to the original sending address, which might explain why the bitcoins were sent to the same addresses.
Privacy or Security Reasons Some users may intentionally create transactions that appear confusing to provide additional privacy or security.
Error or Unintended Action It could also be an error or an unintended action by the user or the wallet software.
Without more context or details about the wallet’s owner and their intentions, it’s difficult to determine the exact reason behind this transaction. It’s always recommended to use caution and ensure transactions are intentional, especially when dealing with high fees. If you’re the owner of the transaction and this was unintended, you may want to review your wallet settings or contact the wallet provider for support.