Using High Fees Strategically

in crypto •  2 years ago 

Crypto Trader Pays $120K in Fees to Buy $156K of Meme Coin Four

This might seem funny at first sight - but the huge fees were strategic.

I always urge people to look very carefully at both the variable network fees and the often rapacious smart contract fees. Both can make a modest trade worthless. In the above case, it wasn't an accident or a scam, but a strategy to get in quickly as miners will process higher-fee transactions first. Also note the use of swap-pool dynamics.

Fun, hey!?

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  ·  2 years ago  ·  

is funny how WTF turns into OMFG!