Why are wallets doing so many micro transactions with high fees?

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dave_hashMember
Posts: 11 · Reputation: 151
#1Sep 19, 2019, 01:32 PM
Example #1 Check this out: https://mempool.space/address/bc1qw2acyf9x2gtnxlydwf3e4rgw9fxgaxnm2jr4mu 1110 transactions for 13 cents each to the same wallet. Like, why not just send the whole amount in one go to save on fees? Example #2 Here's another one: https://mempool.space/address/bc1plh4au35n0t4c7fdjnyr8s6m7krr2ddp5cxg747s5lmpnjrsrks9smu Sending 23 cents over and over to the same wallet, and it racked up a fee of $7.45 for each one... Example #3 And look at this: https://mempool.space/address/bc1qy5g5tdx2evg3v5f4rj90f6amhy92gtam39n0hc Over 50,000 transactions, but the total amount is 20 times less than the fee? They're basically losing money sending all those tiny outputs to the same address. Why not just send one larger amount instead of 20,000 separate transactions? These wallets are adding to the congestion on the Bitcoin network, and I'm curious if anyone has more info on why they're constantly creating these micro transactions to the same wallet.
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degen_apeMember
Posts: 28 · Reputation: 231
#2Sep 19, 2019, 03:57 PM
They're Ordinal spammers. It's a scam selling useless dust to gullible greedy people. It follows the line of ICOs and NFTs.
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dave_hashMember
Posts: 11 · Reputation: 151
#3Sep 19, 2019, 08:37 PM
Thanks for confirming for me! That makes total sense now.
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hodlgangMember
Posts: 41 · Reputation: 241
#4Sep 19, 2019, 11:40 PM
This is some other way scammers do fooled some people, whereby same transaction wallet address will be always on the run, and can't make a full transaction at a time which is absolutely useless. To show you they are willing to earn from you in a way most people don't even know like your data running in the platform, it also a way of eating you up.
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bull_2019Senior Member
Posts: 296 · Reputation: 1992
#5Sep 20, 2019, 05:58 AM
Yes! they are just bunch of spammers trying to get info about your wallet  through dust attack when you eventually spend those tokens along with your real tokens You can go through  post below it contains almost all you need to know https://bitcointalk.org/index.php?topic=5175238
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humbleledgerLegendary
Posts: 1027 · Reputation: 6554
#6Sep 20, 2019, 08:46 AM
Dust attacks don't pay high transaction fees for one output. These aren't "tokens", we're talking about Bitcoin here.
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bull_2019Senior Member
Posts: 296 · Reputation: 1992
#7Sep 20, 2019, 01:06 PM
Ohh! Thanks for the correction and the headsup,  I didn't even check the transactions I only looked for the post made by fillippone after seeing a dust like comment  . That means the spammers are definitely paying high fee to get a task done so as to receive greater  reward in BTC or a particular token, they don't  really care the amount they are paying as fee so far they will have a reward which more than their  output +fee  in total
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the_matrixSenior Member
Posts: 313 · Reputation: 1887
#8Sep 20, 2019, 02:04 PM
Look, there is no 'greater reward' in this situation, ordinals spammers are simply selling crap at all cost to stupid people who care to buy. The problem now is that by doing so, they are causing congestion in the BTC network and that's why tx fees have been very high for sometime now, making BTC unusable for payments.
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