This was the most terrifying 30min for someone’s life.
Whales have the most reason to do a test transaction.
Well this is a dumb post, a whale is far more likely to make a test transaction. I would break it into pieces also.
What happens if you only copy 99.9% of the address? Is it gone forever or eventually is the transaction cancelled?
Wonder how big the next one is gonna be
Seeing posts like this always reminds me that some people were buying tens of thousands of BTC back in 2010 for under a $100. [Check out this guy on BTC Talk. He was buying 10,000 BTC for $50 or 20,000 for $100.](https://bitcointalk.org/index.php?topic=224.0) Ha!
Just imagine the sort of power over the market a smart early adopter who held (or just forgot) about the tens of thousands of BTC they own.
Now imagine a few of these guys happen to be friends or in a [club](https://bitcointalk.org/index.php?topic=98239.0).
Looks like an exchange, I think it’s standard procedure to do that.
Imagine you also have to wait about ten minuted to be sure. This **** is nerve wracking.
Everything about crypto is terrifying. One miss-click and it’s gone. One wrong address and it could be gone or stuck in limbo. One piece of malware replacing the address and it’s gone. Forget the password? it’s gone. There are so many single points of failure, with such low recourse. Waiting for a crypto safe-keeper/custodian who will service my crypto and insure the lot of it.
If you can afford the piece of mind why not?
I once sent about $5000 worth of bitcoin cash to my bitcoin address so yeah was not a fun mistake.
Tfw you have less BTC than that 2nd test tx…
It’s probably for accounting purposes and process safety.
You can never be too safu
I love how it took him 45 minutes of testing just to start his transfer.
Still speaks to how bad bitcoin UX still is.
Damm if whales test their transactions with far more than I have does that makes me like phytoplankton?
It’s not that really, the software is in charge of TX address and not so much human, they do it like that to make sure the wallet address is not compromised. Compromised wallets are routinely scanned and sometimes by several parties who automatically try to snatch the funds first.
Imagine a test transaction being $10k. I know relatively speaking it’s a drop in the ocean for the sender, but still, if lost, that’s $10k gone :/
Always do this, no exceptions
And it took 45 minutes … and they had to pay to move their money.
That’s a mighty expensive test, but considering the final number, it seems minuscule by comparison lol
well makes sense seeing as they have more to lose than anyone.
we never gnna get mass adoption like this.
it needs to be a domain name or osmething easy to remember by to transfer to.
I would test it for 380 million too haha.
Especially whales. Stakes higher.
lol I know wealth inequality is a global concern but the scale of that problem in crypto should be disconcerting. Like, I if everyone on Earth owned an equal amount of BTC the first test transaction would be a single person’s life savings and holy **** I can’t even imagine sending a whole *** bitcoin to someone as a “test”. I guess that’s why they call ’em whales!
Can’t really blame them tbh. I’m paranoid about this kind of stuff and I barely have any holdings. I can’t even think of how nervous I’d be with large amounts.
Whenever i’m setting up a new cold wallet i ALWAYS send a small amount and then fire it back before i move the bulk of my Bitcoin over. Three transactions total. I’m not sure how rare that is.. But it just seemed smart to me.
Your email address will not be published.