The suspected-bot buyer also paid very high "gas" fees - which determine how quickly the Ethereum network processes a transaction - of 8 ETH ($32,000), to ensure the sale went through almost instantly.

Imagine if money charged you $32k on a $3k purchase to process that sale "almost instantly". NFTs should be an opt-in card for organ donation.

  • Lovely_sombrero [he/him]
    ·
    3 years ago

    Imagine if money charged you $32k on a $3k purchase to process that sale “almost instantly”. NFTs should be an opt-in card for organ donation.

    That is the main grift of crypto-whatever. Very high fees for buying/selling (with $) crypto and switching between different cryptos. The smart people here are the ones being the bank/exchange, not the ones actually holding crypto. Especially stuff like Tether is just insane.