{"id":550771,"date":"2023-09-11T15:00:39","date_gmt":"2023-09-11T15:00:39","guid":{"rendered":"https:\/\/uniquehot.com\/?p=550771"},"modified":"2024-06-11T08:15:50","modified_gmt":"2024-06-11T08:15:50","slug":"lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/","title":{"rendered":"Lost In Transaction: Bitcoin User Overpaid By $500,000 For A $200 Deal"},"content":{"rendered":"<p><strong>In times of high congestion, Bitcoin users sending transactions on the network pay high fees to be included in the next block. These fees can reach hundreds of dollars depending on the transaction size, but a user might have broken the record.<\/strong><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/analysis\/xrp\/xrp-75000-list\/\" target=\"_blank\" rel=\"noopener \">Pro-XRP Lawyer John Deaton Reveals The Countries Topping The 75,000 Holder List<\/a><\/div>\n<h2>20 Bitcoin To Move $200, What Happened?<\/h2>\n<p>Data from the analytics platform mempool.space, a user paid over $500,000 or 20 Bitcoin to transfer around $200. The chart below shows that the transaction fee has almost reached 200 million satoshis (sats).<\/p>\n<figure id=\"attachment_550785\" aria-describedby=\"caption-attachment-550785\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-550785 size-large\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-Chart-1.jpeg?w=860&#038;resize=860%2C587\" alt=\"Bitcoin BTC BTCUSDT Chart 1\" width=\"860\" height=\"587\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-Chart-1.jpeg?w=1138 1138w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-Chart-1.jpeg?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-Chart-1.jpeg?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-Chart-1.jpeg?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-Chart-1.jpeg?w=750 750w\" sizes=\"(max-width: 860px) 100vw, 860px\"><figcaption id=\"caption-attachment-550785\" class=\"wp-caption-text\">BTC transaction made by an entity that overpaid by $500,000 in fees. Source: mempool.space via Jameson Lopp on X<\/figcaption><\/figure>\n<p>Jameson Lopp, co-founder and CTO at CASA speculated about the transaction and why a single entity would pay such a high fee to send a small amount of money. Lopp <a href=\"https:\/\/twitter.com\/lopp\/status\/14239222\" target=\"_blank\" rel=\"noopener nofollow\">stated<\/a>:<\/p>\n<blockquote><p>The transaction that paid nearly 20 BTC ($500,000) fee a few hours ago looks like an exchange or payment processor with buggy software. They&#8217;ve received 60,000+ txns and sent 60,000+ txns from the same address (bad practice) and likely calculated their change output incorrectly.<\/p><\/blockquote>\n<p>In addition, CASA\u2019S CTO stated that the transaction came from a \u201chot wallet,\u201d a Bitcoin address connected to the internet, with the characteristics of those used by crypto exchanges and other enterprises. Lopp added:<\/p>\n<blockquote><p>It looks like it only receives deposits from one address to top up its balance every now and then. Spending pattern is one long peel chain!<\/p><\/blockquote>\n<p>As of this writing, the crypto exchange or company that <a href=\"https:\/\/mempool.space\/address\/bc1qr35hws365juz5rtlsjtvmulu97957kqvr3zpw3\" target=\"_blank\" rel=\"noopener nofollow\">owns this Bitcoin wallet seems unaware of its bug<\/a>. The entity still holds over $10 million or 421 BTC on the hot wallet.<\/p>\n<p>Moreover, the entity that paid $500,000 to move $200 seems active. The hot wallet records over 61,000 transactions, many occurring in the past hour alone, since its inception in late June 2023.<\/p>\n<p>As Lopp noted, the address operates solely as a withdrawal hot wallet. The executive concluded that the transactions recorded by the wallet seem automated and probably the result of software created by a new entity in the crypto space.<\/p>\n<p>Lopp said: \u201cLooks like they haven&#8217;t noticed; they still have a ton of funds in the wallet and it&#8217;s still sending transactions.\u201d<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-price-double-top-how-low-can-btc-drop\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Price Confirms Double Top, How Low Can BTC Drop?<\/a><\/div>\n<p>As of this writing, Bitcoin (BTC) trades at $25,700 with sideways movement across the board.<\/p>\n<figure id=\"attachment_550789\" aria-describedby=\"caption-attachment-550789\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-550789 size-large\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-1.png?w=860&#038;resize=860%2C410\" alt=\"Bitcoin BTC BTCUSDT\" width=\"860\" height=\"410\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-1.png?w=1758 1758w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-1.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-1.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-1.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-1.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-1.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-1.png?w=1140 1140w\" sizes=\"(max-width: 860px) 100vw, 860px\"><figcaption id=\"caption-attachment-550789\" class=\"wp-caption-text\">BTC&#8217;s price is moving sideways on the daily chart. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/?symbol=BINANCE%3ABTCUSDT\" target=\"_blank\" rel=\"noopener nofollow\"><strong>BTCUSDT Tradingview<\/strong><\/a><\/figcaption><\/figure>\n<p>Cover image from Unsplash, chart from Tradingview<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In times of high congestion, Bitcoin users sending transactions on the network pay high fees to be included in the next block. These fees can reach hundreds of dollars depending on the transaction size, but a user might have broken the record. Related Reading: Pro-XRP Lawyer John Deaton Reveals The Countries Topping The 75,000 Holder List 20 Bitcoin To Move $200, What Happened? Data from the analytics platform mempool.space, a user paid over $500,000 or 20 Bitcoin to transfer around $200. The chart below shows that the transaction fee has almost reached 200 million satoshis (sats). Jameson Lopp, co-founder and CTO at CASA speculated about the transaction and why a single entity would pay such a high fee to send a small amount of money. Lopp stated: The transaction that paid nearly 20 BTC ($500,000) fee a few hours ago looks like an exchange or payment processor with buggy software. They&#8217;ve received 60,000+ txns and sent 60,000+ txns from the same address (bad practice) and likely calculated their change output incorrectly. In addition, CASA\u2019S CTO stated that the transaction came from a \u201chot wallet,\u201d a Bitcoin address connected to the internet, with the characteristics of those used by crypto exchanges and other enterprises. Lopp added: It looks like it only receives deposits from one address to top up its balance every now and then. Spending pattern is one long peel chain! As of this writing, the crypto exchange or company that owns this Bitcoin wallet seems unaware of its bug. The entity still holds over $10 million or 421 BTC on the hot wallet. Moreover, the entity that paid $500,000 to move $200 seems active. The hot wallet records over 61,000 transactions, many occurring in the past hour alone, since its inception in late June 2023. As Lopp noted, the address operates solely as a withdrawal hot wallet. The executive concluded that the transactions recorded by the wallet seem automated and probably the result of software created by a new entity in the crypto space. Lopp said: \u201cLooks like they haven&#8217;t noticed; they still have a ton of funds in the wallet and it&#8217;s still sending transactions.\u201d Related Reading: Bitcoin Price Confirms Double Top, How Low Can BTC Drop? As of this writing, Bitcoin (BTC) trades at $25,700 with sideways movement across the board. Cover image from Unsplash, chart from Tradingview<\/p>\n","protected":false},"author":535,"featured_media":550773,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,78790],"class_list":["post-550771","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusdt"],"acf":[],"yoast_head":"\n<title>Lost In Transaction: Bitcoin User Overpaid By $500,000 For A $200 Deal<\/title>\n<meta name=\"description\" content=\"Data from the analytics platform mempool.space, a user paid over $500,000 or 20 Bitcoin (BTC) to transfer around $200.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lost In Transaction: Bitcoin User Overpaid By $500,000 For A $200 Deal\" \/>\n<meta property=\"og:description\" content=\"Data from the analytics platform mempool.space, a user paid over $500,000 or 20 Bitcoin (BTC) to transfer around $200.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-11T15:00:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T08:15:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-Fee-500000.jpg?fit=640%2C427\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"427\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Reynaldo Marquez\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@rl_m\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Reynaldo Marquez\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/\"},\"author\":{\"name\":\"Reynaldo Marquez\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/6b25e0bbb04d6129ebb4d\"},\"headline\":\"Lost In Transaction: Bitcoin User Overpaid By $500,000 For A $200 Deal\",\"datePublished\":\"2023-09-11T15:00:39+00:00\",\"dateModified\":\"2024-06-11T08:15:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/\"},\"wordCount\":434,\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-Fee-500000.jpg?fit=640%2C427\",\"keywords\":[\"bitcoin\",\"btc\",\"BTCUSDT\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/\",\"url\":\"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/\",\"name\":\"Lost In Transaction: Bitcoin User Overpaid By $500,000 For A $200 Deal\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-Fee-500000.jpg?fit=640%2C427\",\"datePublished\":\"2023-09-11T15:00:39+00:00\",\"dateModified\":\"2024-06-11T08:15:50+00:00\",\"description\":\"Data from the analytics platform mempool.space, a user paid over $500,000 or 20 Bitcoin (BTC) to transfer around $200.\",\"breadcrumb\":{\"@id\":\"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/#primaryimage\",\"url\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-Fee-500000.jpg?fit=640%2C427\",\"contentUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-Fee-500000.jpg?fit=640%2C427\",\"width\":640,\"height\":427,\"caption\":\"Image from: Finan Akbar - Unsplash\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/uniquehot.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Lost In Transaction: Bitcoin User Overpaid By $500,000 For A $200 Deal\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/uniquehot.com\/#website\",\"url\":\"https:\/\/uniquehot.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin &amp; Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/uniquehot.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/uniquehot.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/uniquehot.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/6b25e0bbb04d6129ebb4d\",\"name\":\"Reynaldo Marquez\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/036a3927a22f63e491c08a08c3641ece?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/036a3927a22f63e491c08a08c3641ece?s=96&d=mm&r=g\",\"caption\":\"Reynaldo Marquez\"},\"description\":\"A literature major, Reynaldo M\u00e1rquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/\",\"https:\/\/x.com\/rl_m\"],\"url\":\"https:\/\/uniquehot.com\/author\/reynaldomarquez\/\"}]}<\/script>\n","yoast_head_json":{"title":"Lost In Transaction: Bitcoin User Overpaid By $500,000 For A $200 Deal","description":"Data from the analytics platform mempool.space, a user paid over $500,000 or 20 Bitcoin (BTC) to transfer around $200.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/","og_locale":"en_US","og_type":"article","og_title":"Lost In Transaction: Bitcoin User Overpaid By $500,000 For A $200 Deal","og_description":"Data from the analytics platform mempool.space, a user paid over $500,000 or 20 Bitcoin (BTC) to transfer around $200.","og_url":"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2023-09-11T15:00:39+00:00","article_modified_time":"2024-06-11T08:15:50+00:00","og_image":[{"width":640,"height":427,"url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-Fee-500000.jpg?fit=640%2C427","type":"image\/jpeg"}],"author":"Reynaldo Marquez","twitter_card":"summary_large_image","twitter_creator":"@rl_m","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Reynaldo Marquez","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/#article","isPartOf":{"@id":"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/"},"author":{"name":"Reynaldo Marquez","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/6b25e0bbb04d6129ebb4d"},"headline":"Lost In Transaction: Bitcoin User Overpaid By $500,000 For A $200 Deal","datePublished":"2023-09-11T15:00:39+00:00","dateModified":"2024-06-11T08:15:50+00:00","mainEntityOfPage":{"@id":"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/"},"wordCount":434,"publisher":{"@id":"https:\/\/uniquehot.com\/#organization"},"image":{"@id":"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/#primaryimage"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-Fee-500000.jpg?fit=640%2C427","keywords":["bitcoin","btc","BTCUSDT"],"articleSection":["Cryptocurrency Market News"],"inLanguage":"en-US","copyrightYear":"2023","copyrightHolder":{"@id":"https:\/\/uniquehot.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/","url":"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/","name":"Lost In Transaction: Bitcoin User Overpaid By $500,000 For A $200 Deal","isPartOf":{"@id":"https:\/\/uniquehot.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/#primaryimage"},"image":{"@id":"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/#primaryimage"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-Fee-500000.jpg?fit=640%2C427","datePublished":"2023-09-11T15:00:39+00:00","dateModified":"2024-06-11T08:15:50+00:00","description":"Data from the analytics platform mempool.space, a user paid over $500,000 or 20 Bitcoin (BTC) to transfer around $200.","breadcrumb":{"@id":"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/#primaryimage","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-Fee-500000.jpg?fit=640%2C427","contentUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-Fee-500000.jpg?fit=640%2C427","width":640,"height":427,"caption":"Image from: Finan Akbar - Unsplash"},{"@type":"BreadcrumbList","@id":"https:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/uniquehot.com\/"},{"@type":"ListItem","position":2,"name":"Lost In Transaction: Bitcoin User Overpaid By $500,000 For A $200 Deal"}]},{"@type":"WebSite","@id":"https:\/\/uniquehot.com\/#website","url":"https:\/\/uniquehot.com\/","name":"NewsBTC","description":"Bitcoin &amp; Cryptocurrency News Today","publisher":{"@id":"https:\/\/uniquehot.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/uniquehot.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/uniquehot.com\/#organization","name":"NewsBTC","url":"https:\/\/uniquehot.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/6b25e0bbb04d6129ebb4d","name":"Reynaldo Marquez","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/036a3927a22f63e491c08a08c3641ece?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/036a3927a22f63e491c08a08c3641ece?s=96&d=mm&r=g","caption":"Reynaldo Marquez"},"description":"A literature major, Reynaldo M\u00e1rquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/uniquehot.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Lost In Transaction: Bitcoin User Overpaid By $500,000 For A $200 Deal","url":"http:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-Fee-500000.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-Fee-500000.jpg?fit=640%2C427"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusdt"],"dateCreated":"2023-09-11T15:00:39Z","datePublished":"2023-09-11T15:00:39Z","dateModified":"2024-06-11T08:15:50Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Lost In Transaction: Bitcoin User Overpaid By $500,000 For A $200 Deal\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/lost-in-transaction-bitcoin-user-overpaid-by-500000-for-a-200-deal\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/Bitcoin-BTC-BTCUSDT-Fee-500000.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/Bitcoin-BTC-BTCUSDT-Fee-500000.jpg?fit=640%2C427\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusdt\"],\"dateCreated\":\"2023-09-11T15:00:39Z\",\"datePublished\":\"2023-09-11T15:00:39Z\",\"dateModified\":\"2024-06-11T08:15:50Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-BTCUSDT-Fee-500000.jpg?fit=640%2C427","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/550771"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=550771"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/550771\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/550773"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=550771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=550771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=550771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}