So I understand that the gas fees is basically the charges of using the network and when the traffic is high, so is the fees.
I'm sure most of you have heard the news about this guy accidently listing his BAYC NFT for 0.75ETH (3k USD) instead of 75ETH (300k USD). I read that the buyer paid a gas fees of 30k.
https://etherscan.io/tx/0x716cc965cf3aa642bad16d3fa02f9629df2f63ede1eadce2921c0869cddcef19
That's 10 times the actual transaction.
Is it only because there were probably a lot of people going for the same item? and were gas prices for all transactions high at that point in time ? or do I have this gas fees concept all wrong?
[link] [comments]
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments