Micropayment Pool Miner? | Bitcointalksearch.org

Luke-Jr

legendary

Activity: 2576

Merit: 1186

Quote from: bytemaster on May 22, 2011, 12:00:45 AM

Would the rest of the community still accept the blocks generated with this lower fee?

Yes.

Quote from: bytemaster on May 22, 2011, 12:00:45 AM

Currently I cannot send anything less than ($1) 0.149BTC without the client adding a 0.01-0.02 BTC (7%) transaction fee.

That's the fault of your client. So long as you send at least 0.00000016 BTC, your fee only needs to be 0.00004096 BTC (assuming a fairly normal transaction size) to be accepted by Eligius (which should easily be within 24 hours).

bytemaster

hero member

Activity: 770

Merit: 566

fractally

I guess the mac version is still a 3.21 beta. Has the threshold for charging the fees changed?

error

hero member

Activity: 588

Merit: 500

The transaction fee has been reduced to 0.0005 BTC in version 0.3.22. Which doesn't entirely solve the problem, but it does help.

bytemaster

hero member

Activity: 770

Merit: 566

fractally

Suppose someone created a service that sold downloads for bitcoins. A typical service might charge $100 for 200GB or $0.50 / GB. This would translate into 0.08BTC/GB or 0.00008/MB.

So a service wishing to sell a 1MB download is currently priced out by transaction fees which my client tells me is still 0.01BTC or $0.06.

Clearly the goal is to prevent "flooding" the network. So what would happen if a pool operator accepted micro-payments with a much smaller transaction fee, say something on the order of the cost of the bandwidth for the transaction. Say something like 0.0000001 per transaction? Would the rest of the community still accept the blocks generated with this lower fee?

Currently I cannot send anything less than ($1) 0.149BTC without the client adding a 0.01-0.02 BTC (7%) transaction fee.

Topic: Micropayment Pool Miner? (Read 1035 times)