Transaction fees and co. | Bitcointalksearch.org

FlyForFun

sr. member

Activity: 243

Merit: 250

Quote from: Sigmoid on December 04, 2013, 03:40:35 PM

Hey...
I'm wondering if it's time for transaction fees. Has anyone tried accepting blocks with a fee only? Could transaction fees save the hashing network from becoming increasingly centralized?

When I hear stuff like "mining is no longer profitable", that essentially translates into "no sane person would do hash processing". We all know what that would mean, were it true. RIP Bitcoin.

If newly generated coins can no longer pay for even the electicity a rig eats, I wonder if fees could.

It is still profitable if you manage to get those 1-2 TH/s pre-ordered. The price goes as low as 3$ per GH/s.. cheapest on market...

DrG

legendary

Activity: 2086

Merit: 1035

Mining is not profitable in the sense that you get less BTC from a miner mining until infinity with no electricity costs than you would if you had bought BTC outright. This is only because the miners are overpriced by the ASIC monopolies.

A 6870 was making 1 BTC a week for me in 2012. To do that now one would need more than 1.2TH, which even at the cheapest $3/GH would cost you $3.6K USD.

Only people who have already bought eq and are mining may come out ahead. People buying preorders now are hoping every other company will have a BFL/Avalon failure.

shinjikenny123

member

Activity: 63

Merit: 10

not yet

ASIC makers haven't released their 16nm miners Cheesy

Sigmoid

newbie

Activity: 28

Merit: 0

Hey...
I'm wondering if it's time for transaction fees. Has anyone tried accepting blocks with a fee only? Could transaction fees save the hashing network from becoming increasingly centralized?

When I hear stuff like "mining is no longer profitable", that essentially translates into "no sane person would do hash processing". We all know what that would mean, were it true. RIP Bitcoin.

If newly generated coins can no longer pay for even the electicity a rig eats, I wonder if fees could.

Topic: Transaction fees and co. (Read 925 times)