miners cant decide the fees, as fees are set by tx creator, i.e. person sending btc.
but miners can choose which tx they want to mine, and this can be automated.,
ie.. only select those tx whoose fees is higher than 250 sat/Byte, something like this/.
Topic: can each miner define the high of the transaction fees? (Read 346 times)
It's not up the miners to decide the fees, but It's up to them to decide which transactions they want to include in their blocks and usually, they choose the ones with the higher fees.
Indeed, usually. With enough hash power and the right motives, maybe not. I'm pretty sure that Bitmain has been spamming the blockchain, creating bottlenecks by creating congestion at multiple fee rates. They can sustain the attacks because of their vast hash rate; they recoup the attack costs in the process by prioritizing their own transactions. LaurentMT did some research on this.
is this chosing done by hand?
It's not up the miners to decide the fees, but It's up to them to decide which transactions they want to include in their blocks and usually, they choose the ones with the higher fees.
Hello forum
Can each miner define the high of the transaction fees?
Thank you!
Hoe
Can each miner define the high of the transaction fees?
Thank you!
Hoe
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