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A comment on Someone paid $2.6M in fees to move $134 worth of cryptocurrency. Parent comment

Re:Someone paid $2.6M in fees to move $134 worth of cryptocu... by dezmou on Thursday June 11, 2020 @01:30PM (#23491159)
I am not expert in blockchain but how can you wash money with transaction fees, you can't know where the fee are going, right ?
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Re:Someone paid $2.6M in fees to move $134 worth of cryptocu... by lostmyoldone on Thursday June 11, 2020 @01:39PM (#23491285)
I don't know the specifics of etherum, I actually do think they are somewhat robust against the more trivial attacks.

However, in some blockchains it is absolutely feasible to become a majority miner for a short period of time by simply renting cloud resources.

If the network is further temporarily reduced due to internet connectivity flapping/segmentation, it might be cheap.

1) Situate yourself in a country with poor connectivity. 2) Trip a breaker to zap most of the connectivity 3) Spin up a gazillion cloud instances 4) Compete more-or-less only with national miners.

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Re:Someone paid $2.6M in fees to move $134 worth of cryptocu... by everfree on Thursday June 11, 2020 @01:39PM (#23491290)
The fee goes to the miner of the block with the transaction in it, the "next block" in a simplified sense.

If you've already mined the next block yourself, you can publish the transaction directly in the block itself instead of loose out to the network like a pleb. Then you'll be effectively guaranteed to get the transaction fee yourself.

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Re:Someone paid $2.6M in fees to move $134 worth of cryptocu... by sixothree on Thursday June 11, 2020 @02:07PM (#23491620)
Can we see if this particular transaction was broadcast to the network?
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Re:Someone paid $2.6M in fees to move $134 worth of cryptocu... by brokensegue on Thursday June 11, 2020 @01:33PM (#23491205)
You can if the miner is doing the laundering
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Re:Someone paid $2.6M in fees to move $134 worth of cryptocu... by itake on Thursday June 11, 2020 @01:37PM (#23491256)
How would you know which miner would get the fee?
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Re:Someone paid $2.6M in fees to move $134 worth of cryptocu... by Acrobatic_Road on Thursday June 11, 2020 @01:41PM (#23491319)
By only giving the transaction to one specific miner.
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