RTFM:
https://bitcoin.org/en/vocabulary#mining
Topic: Transaction Fees (Read 432 times)
All -
I am not TOTALLY new to mining but i have not really delved too deep into the intricacies. One of the things i haven't wrapped my mind around is the transaction fee concept. In everything i read i keep seeing the same idea repeated that miners will not prioritize transactions which do not have fees associated with them, but i am not sure how the we make that determination of which transactions are part of the blocks we create.
Can someone let me know how exactly you make that determination? Or point me to an article which can explain? Essentially, let's say we are in 2018 and there are the rewards for mining are so sparse that the real benefit is from the transaction fees--how would one prioritize what becomes part their block?
I hope that makes sense..looking forward to any insights..
-BK
I am not TOTALLY new to mining but i have not really delved too deep into the intricacies. One of the things i haven't wrapped my mind around is the transaction fee concept. In everything i read i keep seeing the same idea repeated that miners will not prioritize transactions which do not have fees associated with them, but i am not sure how the we make that determination of which transactions are part of the blocks we create.
Can someone let me know how exactly you make that determination? Or point me to an article which can explain? Essentially, let's say we are in 2018 and there are the rewards for mining are so sparse that the real benefit is from the transaction fees--how would one prioritize what becomes part their block?
I hope that makes sense..looking forward to any insights..
-BK
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