Topic: Early Bitcoin Transaction Fees - page 2. (Read 220 times)

first of all people did not have the ability to choose between paying by address or paying by IP. it was always address based payment.
the confusion is this
the IP feature was not about payment destination inside a tx data.. it was about communicating with someone directly via their IP to get their bitcoin address from their node using a communication connection in the node. to then input the bitcoin address into a transaction.

secondly the fee was fixed at a low amount in the initial years. and it stepped down when there were halving cycles and a and large bitcoin market price changes..
people paying random amounts to outbid each other did not come about until much later
where the fee market game began

which is where the first fee wars started. where fees extended above a $0.20 range and have not really gone back down since.. even with years of promises that new features will bring fee's down, we have yet to see bitcoin (yes i speak of the bitcoin network and not other networks pretending to be bitcoin) offer fees below $0.20 for 8 years now


thirdly
a bitcoin block holds about 2500 tx per block on average. and there are about 144 blocks a day so theres normally atleast 360k transactions a day...

fourthly the fee back in 2010 was about 0.001-1btc which was at the time, the price of one whole bitcoin was ~$0.004, making the fee then not even 1cent because the price of a whole bitcoin back then was not even 1 cent and the fee was below 1btc

Here is the transaction made by laszlo for buying two pizzas.
a1075db55d416d3ca199f55b6084e2115b9345e16c5cf302fc80e9d5fbf5d48d
As you see, laszlo paid 0.99 BTC as transaction fee.


There has been never a maximum number for transactions that can be made per day.

I wasn't really a user of Bitcoin until recently, but  from my research, transaction fees were not actually compulsory and you could actually do transaction without including fee. It only recently became necessary to make sure transaction were concluded on time.
As of Laszlo hanyecz, there was no mention, weather the transaction fee was included.


The maximum number of transaction, has actually evolved over time and was not always 100. It was primarily dependent on the networks capacity and number of participants using the Bitcoin network at that specific time.


 

Last week, I wrote about the first bitcoin website in 2009. I mentioned that during that time, money could be sent either through the recipient's IP address or their Bitcoin wallet address. For those who used it back then, can you recall if there were any transaction fees? For example when Laszlo Hanyecz  paid 10,000 Bitcoins for two pizzas back in 2010 was there a transaction fee? Also, has the maximum number of transactions per day always been 100?