When transferring 51511 bitcoins in the amount of about $ 450 million, the commission was less than $ 0.25

When transferring 51511 bitcoins in the amount of about $ 450 million, the commission was less than $ 0.25

A transaction of 51,511 BTC worth almost $ 450 million was sent for a commission of less than $ 0.25.

The transaction was included in block 613 644. At the time of block mining, the price of bitcoin was $ 8680.51, so the transfer amount was equivalent to $ 447 million.

The transaction fee was set at 0.0000268 BTC, or only $ 0.23 – the commission amount was only 0.00000005% of the transfer amount. According to the Blockstream browser, the size of the commission could be even lower.

“This transaction saved 30% on commissions by upgrading to SegWit and could save 16% more by fully upgrading to SegWit-Bech32.”

Most likely, the owner of BTC transferred them to himself and in fact the cryptocurrency did not pass from hand to hand. Most often, the “send maximum amount” wallet function is used for such transfers to transfer bitcoins to a new wallet or account on the exchange.

So far, a similar percentage ratio of commissions and the transfer amount is available only when moving large volumes of BTC. Although the commission of $ 0.25 cents when transferring $ 100 also gives a good level of 0.25%. However, blockchain commissions still make microtransactions inaccessible, since a similar fee when transferring small amounts makes transactions unprofitable.

At the same time, the Lightning Network can provide a much more significant reduction in commissions and make micropayments available subject to the widespread support of LN. Several major industry players are working on the deployment and implementation of the Lightning Network at once, and it is quite possible that low transaction fees will become a reality in the near future.

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