How to make personal RPC for bitcoin mining

cloverme

legendary

Activity: 1512

Merit: 1057

SpacePirate.io

Quote from: bitcoinindia2003 on June 10, 2017, 06:58:45 AM

Hello Users,

I have just started an app for bitcoin trading and the wallet which I am using is block.io. I have made the mining fees as low in the system but then also I am not being able to get exact amount what to send to the miners. Please help to setup something which will help me to send custom mining fees and so I can charge the users. I got to know that in big companies setup there RPC and then they charge using that. Please help me to solve it.

You can get the recommended fee in two ways:
https://bitcoinfees.21.co/api

You can also call estimatefee from rpc:
https://bitcoin.org/en/developer-reference#estimatefee

Then you can set the fee via rpc (example):
settxfee 0.00320227

Don't ask how to calculate the bytes of a transaction, it's a fools errand that will send you into a downward spiral of doom and dispair where you have to do a create raw transaction and sign it, get the hex code in bytes. Many have been down this path from an RPC standpoint and you can't there. Maybe one day someone will create andultra useful rpc command of GetBytesFromSendToAddress but it's just a pipe dream

bitcoinindia2003

newbie

Activity: 3

Merit: 0

I have just made it low then also its charged a lot and not able to decide what to charge from users. I want to know the method or system RPC which all the companies are using to do the mining fees.

achow101

staff

Activity: 3458

Merit: 6793

Just writing some code

Do not try to make the transaction fees extremely low. That will only result in your transactions being unconfirmed for a long time. Furthermore, you should not be trying to set a fixed amount. Fixed transaction fees are no longer a viable option with the current state of the network. You should always be using a fee rate (and not a fixed fee rate either) and dynamic transaction feess.

bitcoinindia2003

newbie

Activity: 3

Merit: 0

Hello Users,

I have just started an app for bitcoin trading and the wallet which I am using is block.io. I have made the mining fees as low in the system but then also I am not being able to get exact amount what to send to the miners. Please help to setup something which will help me to send custom mining fees and so I can charge the users. I got to know that in big companies setup there RPC and then they charge using that. Please help me to solve it.

Topic: How to make personal RPC for bitcoin mining (Read 622 times)