Recently it became very popular on social networks, the registration of a transaction, in which a user apparently made a mistake by exchanging the amount of commission with the amount of BTC who wished to send. This “error” would cost him a total of 291, 241BTC converted into dollars it is approximately 132.447$.

This fact immediately became subject of conversation and speculation of the users of the crypto-currency. Many claim that it is only a mistake, but some others think it was not so, suggesting that it may be a robbery.

But in order to understand if it is possible that can occur a scam with this strategy, it is necessary that we understand well how are realized the transactions and what happens with these commissions.

With the information provided by the web site bit2me, we can summarize that “all remaining bitcoins in a transaction that are not assigned to any address remains them the miner who mine the block with your transaction inside and these are impossible to recover”.

However, if this is so, why we can then indicate the amount of Commission?

Normally a simple or composed transaction of multiple inputs and outputs has a cost of 0.0001 BTC ($0.03) if you want to have a high priority.

It is also important to understand that the commissions that are paid are determined by the amount of inputs and outputs to be placed in a transaction, not by the amount of money that is sent.

If your transaction is loaded with inputs and outputs it means a transaction with more data to analyze and distribute, so will ask you more commission to give it high priority tag.

High priority means that your transaction is added in the next block, to start receiving confirmations.

In general, the software used to send the btc estimated commissions automatically, and add them into the appropriate field; however, the field is enabled allowing the user to modify this amount. This is because the transaction fee is an incentive by the user who sends the Bitcoin to ensure that your transaction will in particular be included in the next block that is generated, in this way will be validated quickly.

Then, it was robbery or was a mistake? In accordance with the complexity, which is handled behind the mining and the confirmation of the blocks, it is unlikely that it was a robbery. In the second part of this article we will discuss the reasons.

Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.