18.6 btc transaction fee? | Bitcointalksearch.org

rjk

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Activity: 448

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1ngldh

Quote from: ?? on ??

Quote from: rjk on January 25, 2012, 11:42:10 PM

Quote from: ?? on ??

Quote from: westkybitcoins on January 25, 2012, 05:12:29 PM

Seems like pools keeping all the transaction fees is pretty common. But still... between that and the 10%, I don't quite get it either. Is the reduced variance for being in a large pool really that much worth it? I have to think there's something besides sheer inertia or not knowing it exists that keeps folks from switching to p2pool.

Herding mentality. Reluctance to change. Ignorance. Comfort. Carelessness.

Not to mention the want for Instant Gratification.

I always thought a fatter wallet would overcome that particular want! I guess not.

The human is an enigma.

rjk

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Activity: 448

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1ngldh

Quote from: ?? on ??

Quote from: westkybitcoins on January 25, 2012, 05:12:29 PM

Seems like pools keeping all the transaction fees is pretty common. But still... between that and the 10%, I don't quite get it either. Is the reduced variance for being in a large pool really that much worth it? I have to think there's something besides sheer inertia or not knowing it exists that keeps folks from switching to p2pool.

Herding mentality. Reluctance to change. Ignorance. Comfort. Carelessness.

Not to mention the want for Instant Gratification.

westkybitcoins

legendary

Activity: 980

Merit: 1004

Firstbits: Compromised. Thanks, Android!

Quote from: dooglus on January 25, 2012, 03:09:23 PM

Quote from: ?? on ??

So, I don't know much about deepbit, did the miners split this fee?

No, deepbit keeps all transaction fees, plus 10% of your regular earnings. (See https://en.bitcoin.it/wiki/Comparison_of_mining_pools)

It's the most popular, but also the least competitive pool. How does that happen?

P2Pool (https://en.bitcoin.it/wiki/P2Pool) for the win -- optional 0.5% donation, decentralised, DoS resistant.

*checks out Comparison_of_mining_pools link*

Seems like pools keeping all the transaction fees is pretty common. But still... between that and the 10%, I don't quite get it either. Is the reduced variance for being in a large pool really that much worth it? I have to think there's something besides sheer inertia or not knowing it exists that keeps folks from switching to p2pool.

dooglus

legendary

Activity: 2940

Merit: 1333

Quote from: ?? on ??

So, I don't know much about deepbit, did the miners split this fee?

No, deepbit keeps all transaction fees, plus 10% of your regular earnings. (See https://en.bitcoin.it/wiki/Comparison_of_mining_pools)

It's the most popular, but also the least competitive pool. How does that happen?

P2Pool (https://en.bitcoin.it/wiki/P2Pool) for the win -- optional 0.5% donation, decentralised, DoS resistant.

sethsethseth

sr. member

Activity: 257

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Not trusting third parties with my private keys

Here is the thread showing the largest fees so far: https://bitcointalksearch.org/topic/what-is-the-highest-fee-ever-collected-for-mining-a-block-so-far-7554

FreeMoney

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Strength in numbers

Quote from: ?? on ??

Quote from: FreeMoney on January 20, 2012, 06:51:21 PM

Miners will be programed to wait until there are X fees worth of tx waiting and then turn on.

And I'll just mine constantly and process those transactions before anyone "turns on". Grin

Probably some won't bother turning off if their marginal costs are near zero. They'll find more blocks, but they'll be smaller value. The time distribution will even out somewhat if any miners are reward sensitive. Probably there will be some other problem that anyone can switch their miners to work on so the value of the next block will need to overcome that before it gets a lot of mining attention.

FreeMoney

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Strength in numbers

Quote from: westkybitcoins on January 20, 2012, 06:37:51 PM

Maybe someone thought it would get their transaction processed really, really, really quickly?

Hmm... JIT mining, where additional hashing power comes online when large fees are detected... workable?...

If Bitcoin lasts a few decades, maybe less even, this will happen. The per block subsidy will be insignificant compared to the accumulating fees. Miners will be programed to wait until there are X fees worth of tx waiting and then turn on. This will change the time distribution of blocks, it will become more even.

westkybitcoins

legendary

Activity: 980

Merit: 1004

Firstbits: Compromised. Thanks, Android!

Maybe someone thought it would get their transaction processed really, really, really quickly?

Hmm... JIT mining, where additional hashing power comes online when large fees are detected... workable?...

2112

legendary

Activity: 2128

Merit: 1073

Quote from: Schleicher on January 20, 2012, 04:32:50 PM

What happened there?

Probably memory overwrite:

1863138384 == 0x6F0D3C50 == "o\r
or somebody writing in Python used a pointer to value instead of the value itself when calling a C/C++ library.

coblee

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