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Topic: A question about transaction fees (Read 679 times)

legendary
Activity: 3472
Merit: 4801
May 09, 2016, 11:12:53 AM
#8
2+ confirmations: Each additional confirmation after the first means that the transaction and the block containing the transaction have been validated by other miners and full nodes, and that the validations have been validated.
Nonsense.

Each additional confirmation only means that the node that tells you about the confirmations has received and validated an additional block which has been added to its copy of the blockchain.  That could be the exact same miner, and the exact same node.  Additional confirmation does NOT "means that the transaction and the block containing the transaction have been validated by other miners and full nodes."
FTFY.

It was not nonsense. I was stating the general case because I didn't want to get into the weeds just to point out that 1 confirmation means something different than 2+ confirmations.

Yes, it was nonsense.

It was not a "general case".  There is nothing about confirmations that has anything to do with whether or not any other nodes or miners have validated the transaction or the first block.

First confirmation means that a miner has included the transaction in a block (hopefully the miner, or pool, was smart enough to validate the transaction first, but they are not required to), and that your node (or a node that you are connected to) claims to have verified that the block from the miner is valid.

All additional confirmations only mean that more blocks have been added to the blockchain by the node that is reporting the confirmations to you. It is not an indication that anyone else has done any additional validation of the transaction or the first block.

That is the "general case".

The special case is that you *might* have heard about some of the additional blocks from different nodes and/or different miners.  If that happened, then it is likely that those other nodes *probably* verified the earlier block before adding new blocks on top of it (although there have been instances of nodes and miners failing to do so in the past).
legendary
Activity: 4466
Merit: 3391
May 09, 2016, 10:51:23 AM
#7
2+ confirmations: Each additional confirmation after the first means that the transaction and the block containing the transaction have been validated by other miners and full nodes, and that the validations have been validated.

Nonsense. Not complete.

Each additional confirmation only means that the node that tells you about the confirmations has received and validated an additional block which has been added to its copy of the blockchain.  That could be the exact same miner, and the exact same node.  Additional confirmation does NOT "means that the transaction and the block containing the transaction have been validated by other miners and full nodes."

FTFY.

It was not nonsense. I was stating the general case because I didn't want to get into the weeds just to point out that 1 confirmation means something different than 2+ confirmations.
legendary
Activity: 3472
Merit: 4801
May 09, 2016, 09:41:58 AM
#6
2+ confirmations: Each additional confirmation after the first means that the transaction and the block containing the transaction have been validated by other miners and full nodes, and that the validations have been validated.

Nonsense.

Each additional confirmation only means that the node that tells you about the confirmations has received and validated an additional block which has been added to its copy of the blockchain.  That could be the exact same miner, and the exact same node.  Additional confirmation does NOT "means that the transaction and the block containing the transaction have been validated by other miners and full nodes."
hero member
Activity: 994
Merit: 500
May 08, 2016, 04:37:25 PM
#5
It is actually called a miner's fee as so many have already answered this.
You must pay this fee in order for them to send your transaction.
But if you want it sent faster you will have to pay a higher amount of a fee to get it to your destination faster.
Some services eat this fee paid to miners for you such as xapo and coinbase. Since they are bigger companies that can afford to do this. But they only do this to garner more of a customer base.
copper member
Activity: 1218
Merit: 1007
Post your ann & bounty just contact me
May 08, 2016, 08:38:09 AM
#4
Hello,

A question comes to mind, since a Bitcoin transaction gets many confirmations, who gets the fee I sent ? The first block that confirmed the transaction ? if yes, why the other blocks would include a transaction for which they received nothing. ?
Would anyone explain this to me.

yes miner gets the fee of your transaction for example look this block :
https://blockchain.info/block/0000000000000000060c3d5af3f2d4f5ae75e8312a4396921275305a768852d4

Number Of Transactions   451
Output Total   3,607.27555291 BTC
Estimated Transaction Volume   1,130.63443151 BTC
Transaction Fees   0.08384345 BTC
and miner get the transaction fees + 25bitcoin ( reward mining)
https://blockchain.info/tx/f38eea4df56a90047ea713869756b72896e488a25e9f217311ea0bdfc1a534a0
No Inputs (Newly Generated Coins) 25.08384345
legendary
Activity: 4466
Merit: 3391
May 07, 2016, 04:37:04 PM
#3
The term confirmation is a little confusing.

0 confirmations: the transaction hasn't been added to a block. At this point, the transaction has been validated by at least one full node (the one that tells you that the transaction has 0 confirmations).

1 confirmation: the transaction has been added to a block. The transaction has been validated by the miner that created the block. The block has been validated by at least one full node (the one that tells you that the transaction has 1 confirmation).

2+ confirmations: Each additional confirmation after the first means that the transaction and the block containing the transaction have been validated by other miners and full nodes, and that the validations have been validated.
legendary
Activity: 4214
Merit: 1313
May 07, 2016, 02:58:25 PM
#2
Hello,

A question comes to mind, since a Bitcoin transaction gets many confirmations, who gets the fee I sent ? The first block that confirmed the transaction ? if yes, why the other blocks would include a transaction for which they received nothing. ?
Would anyone explain this to me.

Yes, the miner/mining pool of the block that includes the transaction gets the fee.

They don't include the transaction, just build the next block upon that earlier block which are further confirmations.
sr. member
Activity: 1192
Merit: 260
Tryig to survive in this harsh world
May 07, 2016, 02:48:04 PM
#1
Hello,

A question comes to mind, since a Bitcoin transaction gets many confirmations, who gets the fee I sent ? The first block that confirmed the transaction ? if yes, why the other blocks would include a transaction for which they received nothing. ?
Would anyone explain this to me.
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