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Topic: 1M bitcoin transactions (Read 132 times)

member
Activity: 182
Merit: 35
STRAIGHT FORWARD
April 06, 2023, 02:47:32 PM
#3
please check the following articles:

https://bitcointalksearch.org/topic/m.62039974

https://bitcointalksearch.org/topic/m.62040841

https://bitcointalksearch.org/topic/m.62041637

would it be possible to process the transactions through the OP_RETURN and what are the risks, fail, success rate and advises to process these 1m transactions.

if I speak to miners asking to process them how much would it cost, etc?

The cost would probably be AT LEAST what I posted in your other thread.
ON AVERAGE a miner is taking in about BTC.2 per block in fees
You will need about 450 blocks to push out 1 million TX so figure the miner to push out 1 million transactions with 0 fee is asking them to give up between 85BTC to 90BTC
So they would probably charge you at least that much.

Now for the other side, the mempool is full at the moment so that is where I get the .2 per block. If it empties you could possibly get it for 1/10 that much. But it might take a while since as the mempool fills up they would want to send out the transactions with a higher fee.

You would probably be better off paying the 1 sat/vb fee sending them out as regular transactions and being done.

-Dave

understood. thank you
legendary
Activity: 3500
Merit: 6320
Crypto Swap Exchange
April 06, 2023, 10:30:59 AM
#2
please check the following articles:

https://bitcointalksearch.org/topic/m.62039974

https://bitcointalksearch.org/topic/m.62040841

https://bitcointalksearch.org/topic/m.62041637

would it be possible to process the transactions through the OP_RETURN and what are the risks, fail, success rate and advises to process these 1m transactions.

if I speak to miners asking to process them how much would it cost, etc?

The cost would probably be AT LEAST what I posted in your other thread.
ON AVERAGE a miner is taking in about BTC.2 per block in fees
You will need about 450 blocks to push out 1 million TX so figure the miner to push out 1 million transactions with 0 fee is asking them to give up between 85BTC to 90BTC
So they would probably charge you at least that much.

Now for the other side, the mempool is full at the moment so that is where I get the .2 per block. If it empties you could possibly get it for 1/10 that much. But it might take a while since as the mempool fills up they would want to send out the transactions with a higher fee.

You would probably be better off paying the 1 sat/vb fee sending them out as regular transactions and being done.

-Dave
member
Activity: 182
Merit: 35
STRAIGHT FORWARD
April 06, 2023, 09:15:07 AM
#1
please check the following articles:

https://bitcointalksearch.org/topic/m.62039974

https://bitcointalksearch.org/topic/m.62040841

https://bitcointalksearch.org/topic/m.62041637

would it be possible to process the transactions through the OP_RETURN and what are the risks, fail, success rate and advises to process these 1m transactions.

if I speak to miners asking to process them how much would it cost, etc?
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