Topic: Can anybody stall Bitcoin for 72BTC per hour? ANSWER: NO - page 3. (Read 4886 times)
So someone spends 72/hr in order to make people pay .001 for tx? That sounds wonderful for miners and a tiny inconvenience for users. It's just ~1.5M dollars worth per month. Assuming you don't drive prices up at all.
fees get exponentially higher as the block fills up, so your fee assumption is wrong
hmm, could you please elaborate or give a link? you make it sound like there is some automatic system to do that but I never heard of that.Would that be the case if I would do it right now?
fees get exponentially higher as the block fills up, so your fee assumption is wrong
typical tx fee is 0.005 btc
https://en.bitcoin.it/wiki/Transaction_fees
~2400 txs fit into a block
http://bitcoin.stackexchange.com/questions/1747/bitcoin-block-size-what-are-the-rules
2400 * 0.0050001 * 6 blocks/hour ~= 72
Miners will choose the tx with the highest fees. But to be really sure I just create 3000 tx with a fee of 0.011 every ten minutes.33 BTC edit: 198 BTC
is that really all it takes?
Of course clients can increase fees. It would take time and user effort, though. I think with some clients it is not even possible for the user.
https://en.bitcoin.it/wiki/Transaction_fees
~2400 txs fit into a block
http://bitcoin.stackexchange.com/questions/1747/bitcoin-block-size-what-are-the-rules
2400 * 0.0050001 * 6 blocks/hour ~= 72
Miners will choose the tx with the highest fees. But to be really sure I just create 3000 tx with a fee of 0.011 every ten minutes.
is that really all it takes?
Of course clients can increase fees. It would take time and user effort, though. I think with some clients it is not even possible for the user.
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