Someone just paid 64 ETH ($119K) in gas fees trying to buy a meme coin with 84 ETH ($156K)

Today, a user tried to buy a meme coin with 84 ETH on Uniswap and paid 64.01 ETH in transaction fee.

https://preview.redd.it/v15bkazvamya1.png?width=1028&format=png&auto=webp&v=enabled&s=22fb3dbba3154d3c7c821a3db72e188cb11ad5d8

This was picked up by Whale Alert, a bot that shares big movements on Twitter.

https://preview.redd.it/xxn69dw7bmya1.png?width=653&format=png&auto=webp&v=enabled&s=36abe345e128c13a15dd79383ab7e0180b4127a5

People are mocking this user and saying that it must be Bitboy, because he doesn't not know how to swap on uniswap (see top post, lol).

https://preview.redd.it/fnapse0cbmya1.png?width=654&format=png&auto=webp&v=enabled&s=b1784a544dde56fb97b0fef0b868a7c01834cab2

While at face value it seems like an accident, various people are arguing that this was a voluntary move. Apparently he tried to buy some coin named FOUR and is up on the trade. But I cannot get this confirmed.

https://preview.redd.it/5vegg9yhbmya1.png?width=678&format=png&auto=webp&v=enabled&s=5b02fe75a454c3f6911e630bfc145e1d0baf0853

Information on the block is here

https://preview.redd.it/sb13ue0lbmya1.png?width=1118&format=png&auto=webp&v=enabled&s=fa88f970ac9a58b8532307e2ca42efaf851cd654

So much crazy news lately. From someone accidentally sending $1.5 million to the wrong address, to another person buying the wrong $PEPE in April and getting rugged instead of becoming a millionaire, to this person paying insane fees.

Never a dull week in crypto.

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50 thoughts on “Someone just paid 64 ETH ($119K) in gas fees trying to buy a meme coin with 84 ETH ($156K)”

  3. Especially during meme coins seasons we have a lot of such incidents.

    As most people entering the markets don’t really know how to use it.

  5. I went to the Tweet and people are saying that this is most likely a MEV extraction. Another reason for the tip could be to be prioritized to mint a certain NFT!

    Read it here: https://twitter.com/dividend_fire/status/1655507600711065603?s=46&t=4d9cguN0OqEDKq9_eesc5g

  10. The user made two transactions later having messages included. The first one said this:

    >64 ETH for gas. He who does not take risks does not drink champagne. If you earn too much, share some with me – for a bottle of champagne 🙂 I’ll drink to your good fortune!

    and the second one was used to advertise a project. There is a chance this was done on purpose to get attention for his project.

  12. He’s doing a sacrifice to appease the ethereum gods and bless his meme coin with good fortune

  17. This is brutal, I feel sorry for this guy. These things shouldn’t happen in crypto.

  18. Dear lord….. meme coins are roaring back and people are losing their minds 😬

  22. Someone spent $119K worth of ETH to buy $156K worth of a Meme Coin and is now up $250K.

    Tell me how I’m supposed to feel

  25. I wouldn’t even have that much sitting around for this to happen. I would stake the shit outta that ETH.

  26. People need to stop assuming this is an accident. This is most likely intentional, and this user has been promoting projects after paying this fee. It’s advertising, because it gets a ton of press.

  29. I quit trying to transfer my eth last night as the fee was $8. We all have our own battles.

  32. The year is 2023, and some people are still paying Transaction Fees and having their money debased by Inflation.

  34. So many people NOT reading the post and jumping straight to bash on Ethereum for high fees…

  37. That’s not regular gas on the ETH network. That’s a fee set by the scam coin that the user agreed to pay. Careful with your post title, you’re bordering on spreading unnecessary FUD.

  38. I hope to God this wasn’t a voluntary decision. If so I have no words. It was surely an accident.

  39. Holy Fuck, why can’t all just agree to use BCH is scales, its cheap, and can support fungible and non fungible tokens, its decentalized, its been able to self fund its development for years using crowd sourcing, its energy efficient, zero confirmation transactions works you have to use lighting network to on a custodial wallet to be able to afford to make a transaction, you don’t even need an L2 for tokens, If everyone holding BTC switched to BCH the price would sky rocket, and we could leave Micheal Saylor and his kind holding the bad. decentalized peer to peer cash with the ability to preform all the same cool stuff on EVM Web 3.0 blockchains, for a fraction of the cost and the ability to actually scale.

  42. eth holders sitting back and rubbing hands looking at memecoin transaction fees

  43. Literally insane. I tried to swap some ETH into Pepe just for the meme of it and in order to swap $20 ETH into Pepe, I was going to have to pay $86 in gas fees. That’s like paying $20 for tickets to see myself get my ass kicked and then paying an additional $86 in fees to put an assertive stamp on said ass kicking.

  44. Why man ? just be paitent for next bull run with this much ETH. I actually am face palming with my table rn.

  45. I don’t understand.

    Was it a bot or automated attempt to buy?

    Who in their right mind would pay such fees?

  46. I thought meme coins start the bull run.. or are they ending the bull run.. also, what coin did they buy?

  47. > So much crazy news lately. From someone accidentally sending $1.5 million to the wrong address, to another person buying the wrong $PEPE in April and getting rugged instead of becoming a millionaire

    Yeah literally crazy, because the guy would’ve earned 90k if he invested in the right coin. Not millions.

    Fuck you and your clickbait titles and fake news.

  48. Reddit is insane, this guy is up hundreds of thousands of dollars from sniping the second block and still has $400k left of the coin. You’re all laughing at someone much smarter than you who probably made more in one trade than you’ll ever extract from the crypto market

    ​

    https://etherscan.io/address/0xFaDEDfAcE333850bd98f934b20B8BD62D8baf784

  49. Not accidental. He meant to pay that much to be the first to swap at the lowest price of a newly launched Uniswap pair.

    Funny thing is that someone was still able to swap before him by getting included in the same block as the liquidity was added.

    Either way he was able to sell those tokens at much higher prices just hours later and made back his ETH with no issues. He also got a lot of publicity which he used to advertise a shitcoin with a on chain message.

    So yeah, it was intentional and definitely worked out for him.

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