Questions on Transaction fees. | Bitcointalksearch.org

bitfitted

newbie

Activity: 26

Merit: 0

The nodes verifying the transaction are called miners. You are going to have to mine (in a pool) in order to be eligible to get transaction fees from transactions.

Quote from: Chrithu on May 13, 2013, 09:48:15 AM

Is that transaction fee avoidable?

Basically, yes. You can however avoid the transaction fee altogether, but then it will take a very long time until a transaction is confirmed. Also, you risk of getting into a 0-confirmation limbo which, albeit rare, is still possible.

crary

newbie

Activity: 15

Merit: 0

To become a node, as you put it, you would have to become a miner. These days, that requires a significant outlay of capital and is not an economic strategy for recovering tiny transaction fees.

I think it is theoretically possible to get small transactions into blocks without paying fees, if you can get it to a miner who will accept it, but it can't be done easily or quickly. It not worth the trouble to avoid a 5-cent transaction fee.

temperature

newbie

Activity: 28

Merit: 0

you'll get the fee regardless. so not to worry

Chrithu

full member

Activity: 224

Merit: 100

Hey folks.

I've noticed that whenever I make "larger" (like >0.01) transaction I have to pay a "small" (0.0015+) fee which "is spread amongst the nodes veryfiyng the transaction".

My questions are:

How can I become such a node myself (using bitcoin-qt)?

Is that transaction fee avoidable?

Topic: Questions on Transaction fees. (Read 480 times)