This Bitcoin fan makes a big mistake and loses € 40,000 in one click

The fatal click also takes bitcoiners – It’s not just on the Ethereum (ETH) network that you can get big mistakes on transaction fees . This time, it was a Bitcoin (BTC) lover who had the bitter experience.

A satoshis error that costs (very) dear

This November 18, a bitcoiner probably did not pay enough attention to their transaction on the Bitcoin Blueprint network .

Indeed, at block 657535, an unknown person paid more than 2.66 BTC in mining fees, for a transaction of less than 0.0109 BTC . In other words, this unfortunate man paid the equivalent of almost $ 47,000 in fees to transfer less than $ 195 .

Transaction fees that have calmed down on Bitcoin

The error will be all the more bitter for him as the average fees for carrying out a transaction on the Bitcoin blockchain have declined rather well since the end of October.

As can be seen from the Bitinfocharts chart below, average fees peaked at just over $ 13 on October 30 and 31.

Fortunately, they have fallen back to a slightly more reasonable average, around $ 4 , in recent days.

The expense error records remain however those established (2 days in a row) last June. An individual had then sent transactions on Ethereum by paying the incredible sum of 2.6 million dollars in ethers … and this on two occasions.

Bitcoin is better than gold! – Wall Street billionaire bets on BTC

Bitcoin and gold bars are more similar than expected. You can use them to protect your savings from inflation.

Is Bitcoin better than gold? – Anyone who has been active in the crypto space for a long time will answer this question with yes. Connoisseurs of the crypto currency know the advantages of Bitcoin over gold and probably have little doubt that BTC dominates the precious metal in terms of aspects such as portability or divisibility. Anyone looking at the Bitcoin exchange rate will also find that the gold performance is significantly below that of digital gold.

Now another Wall Street veteran, namely Stanley Druckenmiller, has acknowledged this narrative and is betting on Bitcoin. Let’s take a look at what the billionaire has to say in detail.

Stanley Druckenmiller: Another billionaire buys Bitcoin

After such greats as Paul Tudor Jones, billionaire and Wall Street veteran Stanley Druckenmiller has now also made public statements about Bitcoin.

Druckenmiller revealed in an interview with CNBC that he had also invested in Bitcoin. Just like Tudor Jones, he is incredibly bearish on the US dollar and is therefore building up a long position with BTC.

This fact alone, namely a public statement on TV, is another great recognition for Bitcoin. More and more big names in the classic financial world see the digital asset as a necessary investment and a good addition to their portfolio.

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If the gold bet works, BTC also works

As mentioned in the previous section, the basis of our article is the recent interview between Stanley Druckenmiller and Kelly Evans of CNBC.

In the interview, Druckenmiller said that he is betting that the crypto currency Bitcoin will continue to rise in price in the near future. At the same time, he admitted that he does not yet believe 100% in BTC as a store of value, but he fully understands why this attribute is attributed to Bitcoin. Nevertheless, he had to acknowledge that the crypto currency enjoys great popularity, especially among the Millenials – and these are now the generation of the future.

Druckenmiller also says that he holds gold in his portfolio in addition to Bitcoin, and that the precious metal is well above his BTC position.

To be honest: if the bet on gold works, the bet on Bitcoin will probably work even better.

Furthermore, the hedge fund manager said that he needed some time to understand Bitcoin.

I’m a bit like a dinosaur, but I’ve now thawed out and understood that Bitcoin can be an asset class that is extremely attractive as a store of value.

Bitcoin has made it? – Paul Tudor Jones

That a true Wall Street veteran like Druckenmiller is now publicly taking a position on Bitcoin is a true milestone, according to Paul Tudor Jones and Anthony Pompliano.

The fact that Druckenmiller is a highly respected hedge fund manager, shorts the U.S. dollar, and refers to pro-Bitcoin is enormously bullish.

Raoul Pal therefore only commented on the interview on Twitter with the following words

The significance of the worlds greatest and most respected money manager – Stan Druckenmiller saying just now that he is long bitcoin can not be overstated. That has removed every obstacle for any hedge fund or endowment to invest…#Bitcoin

– Raoul Pal (@RaoulGMI) November 9, 2020

As a result, every obstacle for hedge funds that still doubted an investment in Bitcoin has now been removed.