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A comment on Bitfinex just spent $23.7M in fees to make a single Ethereum transaction. Parent comment

Re:Bitfinex just spent $23.7M in fees to make a single Ether... by Geee on Monday September 27, 2021 @05:50PM (#28676480)
You negotiate with the recipient of the transaction to return the money.
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Re:Bitfinex just spent $23.7M in fees to make a single Ether... by andruby on Monday September 27, 2021 @06:30PM (#28676873)
The fee went to the miner, not the recipient of the transaction. So probably an anonymous mining setup that has little incentive to return $23M
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Re:Bitfinex just spent $23.7M in fees to make a single Ether... by davidcbc on Monday September 27, 2021 @08:38PM (#28677952)
That sounds like a lot of trust to put on someone in a “trustless” system
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Re:Bitfinex just spent $23.7M in fees to make a single Ether... by retrac on Tuesday September 28, 2021 @10:23AM (#28683120)
It's the exact same flaw as cash. If you mess up and send it to the wrong person in the mail or set it on fire, there is absolutely no recourse, unless there's someone to sue maybe.

As long as you understand that I don't see the problem. I use cash a lot myself. Of course, we basically did invent the entire banking system to get away from the many downsides of literally lugging bags of gold around, like theft and loss without recourse.

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Re:Bitfinex just spent $23.7M in fees to make a single Ether... by davidcbc on Tuesday September 28, 2021 @02:46PM (#28686057)
Yeah, I hate it when I accidentally pay someone 6 orders of magnitude more than I meant to when I’m using cash. Just like cryptocurrency!
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Re:Bitfinex just spent $23.7M in fees to make a single Ether... by ric2b on Wednesday September 29, 2021 @08:31PM (#28701861)
Citibank managed to do it with USD and still hasn't gotten it back.

Meanwhile in this case the miner gave back the money so maybe the tech isn't the issue?

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