Estimate the minimum TX fee to get a tx into thr blocks 420,000 or 420,001!

unamis76

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Quote from: franky1 on June 10, 2016, 10:12:05 AM

theres over 2million bitcoiners.. so you are right. we wont see many(compared to entire community) people do it.. but we could easily see a couple thousand people do it. and knowing the average transaction is ~500bytes the block would be full with just a couple thousand transactions,

Nothing new here, not hard to fill the block Cheesy

Quote from: franky1 on June 10, 2016, 10:12:05 AM

but what would be a bit of comedy is if a pool SPV mines a block and gets to solve the 420,000 block before the 2 minutes are up where they would usually start adding transactions. meaning its a 'empty block'

alot of people will be upset if the halving block had no transactions in it and all the "messages" ended up in the next block

Well, too bad

It's a "risk" that people face. It's also possible that blocks 419999 and 420000 are mined a second apart... Pretty much anything can happen, thus why I think not many people will really be bothered to point their transactions to the halving block.

randy8777

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i was planning to include a fee of at least 0.02btc to get my fun tx included in the first 12.5btc block as i thought that would be cool, but i will not do it as i don't see the need for this. my guess is that people will throw with around 0.01-0.05btc to get themself included in the last 25btc and/or the first 12.5btc block.

franky1

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Quote from: unamis76 on June 10, 2016, 10:03:30 AM

Saying people will purposefully target their transaction to the halving block is probably just speculation... It's most likely that people will simply transact like they used to, whenever they want without worrying about halvings Cheesy

I'd say it will be as hard to include a transaction on the halving block as it is on any other block...

theres over 2million bitcoiners.. so you are right. we wont see many(compared to entire community) people do it.. but we could easily see a couple thousand people do it. and knowing the average transaction is ~500bytes the block would be full with just a couple thousand transactions,

remember people will do it to add a "message" into the block. so dont expect it to be just 1input-1output transactions.

but what would be a bit of comedy is if a pool SPV mines a block and gets to solve the 420,000 block before the 2 minutes are up where they would usually start adding transactions. meaning its a 'empty block'

alot of people will be upset if the halving block had no transactions in it and all the "messages" ended up in the next block

--Encrypted--

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hee-ho.

Quote from: Sir_lagsalot on June 10, 2016, 05:49:54 AM

Title. Ive seen so many bitcointalkers saying they'll make a transaction on the halving block. So how much will it cost to get a tx into this block?

Let's assume -
- The block is full
- There is a high interest to get a transaction into this block
- You are making a 1 input 1 output transaction

I'm going to say a 0.0007-0.001 fee

all of that would be useless unless you know how the number of unconfirmed transactions and the average fee they're paying. for all we know someone might spam 1000 1KB transactions with 0.01 fee each.

franky1

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you definitely wont see many small transactions in the halving block.
the reason people want to put a transaction in there is because they also want to write a "message" in the block..
so many people will not be just making 1 input output transactions.. (well not that many people did before, but especially not in some milestone blocks)

unamis76

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Saying people will purposefully target their transaction to the halving block is probably just speculation... It's most likely that people will simply transact like they used to, whenever they want without worrying about halvings Cheesy

I'd say it will be as hard to include a transaction on the halving block as it is on any other block...

Jet Cash

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https://JetCash.com

I expect some enterprising miner will be offering possible slots for a premium fee.

calkob

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Its nothing speacial but some people like to be able to say, " i had a transaction in the halving block" but it will be very hard to get it there in my opinion without a good transaction fee.

Lauda

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Terminated.

Quote from: Sir_lagsalot on June 10, 2016, 06:40:13 AM

My bad. Didn't think that through. A guestimate from me would be one to find 5 inputs (That's how many addresses I have with unspent balances rn) and 2 outputs.

It really comes down to how people use it. I tend to 'consolidate' multiple inputs from the same address from time to time. I would be interested in some statistics though (e.g. average amount of inputs and outputs per TX).

Quote from: Sir_lagsalot on June 10, 2016, 06:40:13 AM

I wouldn't say it was totally random. I've once gotten a 0.0005 tx (one input two outputs) delayed 3 blocks.

And where is the math behind it? You can't just predict such a number based on your own (past trends). In either case, you'd have to choose a TX size (e.g. 500 bytes) and then try to calculate the necessary (estimated) fees required to get it included into that specific block.

Sir_lagsalot

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Quote from: Lauda on June 10, 2016, 06:10:50 AM

Quote from: Sir_lagsalot on June 10, 2016, 05:49:54 AM

- You are making a 1 input 1 output transaction

Bad assumption. If we have learned anything, then we know that the majority of the TX's are much bigger. If anyone is wondering how they would create a TX with 1 input and 1 output: e.g. Pick 1 input, send to exact same amount to another address while deducting the fee from the amount (there must be no change).

My bad. Didn't think that through. A guestimate from me would be one to find 5 inputs (That's how many addresses I have with unspent balances rn) and 2 outputs.

Quote from: Lauda on June 10, 2016, 06:10:50 AM

Quote from: Sir_lagsalot on June 10, 2016, 05:49:54 AM

I'm going to say a 0.0007-0.001 fee

Random numbers don't help.

I wouldn't say it was totally random. I've once gotten a 0.0005 tx (one input two outputs) delayed 3 blocks.

Lauda

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Quote from: Sir_lagsalot on June 10, 2016, 05:49:54 AM

- The block is full

The chance of that is high.

Quote from: Sir_lagsalot on June 10, 2016, 05:49:54 AM

- There is a high interest to get a transaction into this block

They may or may not be. I don't think having a TX included into that block is anything special.

Quote from: Sir_lagsalot on June 10, 2016, 05:49:54 AM

- You are making a 1 input 1 output transaction

Bad assumption. If we have learned anything, then we know that the majority of the TX's are much bigger. If anyone is wondering how they would create a TX with 1 input and 1 output: e.g. Pick 1 input, send to exact same amount to another address while deducting the fee from the amount (there must be no change).

Quote from: Sir_lagsalot on June 10, 2016, 05:49:54 AM

I'm going to say a 0.0007-0.001 fee

Random numbers don't help.

Sir_lagsalot

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Title. Ive seen so many bitcointalkers saying they'll make a transaction on the halving block. So how much will it cost to get a tx into this block?

Let's assume -
- The block is full
- There is a high interest to get a transaction into this block
- You are making a 1 input 1 output transaction

I'm going to say a 0.0007-0.001 fee

Topic: Estimate the minimum TX fee to get a tx into thr blocks 420,000 or 420,001! (Read 522 times)