transaction processing policies - page 2.

1bitc0inplz

member

Activity: 112

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Quote from: Sukrim on July 12, 2011, 08:05:45 PM

As you only keep transaction fees - why the hell do you include free transactions, thus rewarding them?

My opinion on the matter is that there are better things to worry about than hacking up bitcoind to earn a few extra bitcents. I also believe that the way that bitcoind is written is kinda smart, it allows the market itself to dictate the transaction fee price.

Any small to medium sized pool that actually thinks that they can make a net profit off of transaction fees is probably misleading themselves. Because of this, I'd rather spend my efforts improving my pool in-general and trying to create worthwhile "value-add" features that my members would be willing to pay for, than to hack-up bitcoind to exclude free transaction.

Again, just my opinion on the matter.

Sukrim

legendary

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Merit: 1007

As you only keep transaction fees - why the hell do you include free transactions, thus rewarding them?

1bitc0inplz

member

Activity: 112

Merit: 10

If you're looking for the input from a pool on what their transaction fee rules are, perhaps I can offer some assistance.

My pool's logic on which transactions to include in a block is that of the vanilla bitcoind. So, this means that free transactions do have a fighting chance of being included in any blocks we solve.

Here is an example of a block we solved: http://blockexplorer.com/b/133476

On that subject; Even if a pool operator is silent about what their rules are, one could make some guesses by simply going to that pool's round history page and viewing a solved block in block explorer.

I don't know if that helps the OP in any way, but I thought I'd offer my insight.

Sukrim

legendary

Activity: 2618

Merit: 1007

Quote from: cuqa on July 12, 2011, 07:37:47 PM

so you agree with real 0% fee bitcoin pools and obviously demand high hash speed, 24/7 service and professional websites.

I'm not 100% sure if you read/understood my post and the post of the OP...

Currently pools decide which transactions their miners are signing. Nearly no pool tells however what cireteria they set to include transactions!

cuqa

newbie

Activity: 40

Merit: 0

so you agree with real 0% fee bitcoin pools and obviously demand high hash speed, 24/7 service and professional websites.

sorry, but how unsocial is that kind of thinking please. transaction fees are tiny as fuck anyways and once the time will come and transaction fees become a major part pools will adjust.

Sukrim

legendary

Activity: 2618

Merit: 1007

No, the OP means something like Eligius' policy of: "We include only transactions that have at least x BTC/kB fees"

Since there is no really easy way currently to set this, besides Eligius (where the operator seems to have hacked already a bit into bitcoind) I don't know of any pool that has such policies. These would be needed imho though, but since only miners are the ones that want to see transaction fees, I guess until at least a few bigger pools switch to something like this you can safely assume that the rules of vanilla bitcoind are also the rules of the mining pools.

As ewal pointed out, most pools keep transaction fees to themselves anyways.

twmz

hero member

Activity: 737

Merit: 500

This wiki page lists most pools and indicates which keep the fees for themselves (hint: almost all of them)

https://en.bitcoin.it/wiki/Comparison_of_mining_pools

doldgigger

full member

Activity: 170

Merit: 100

It gets more and more hard to mine without a pool, at least if you're unwilling to put long-term dedication into bitcoin. However, by joining a pool, miners risk to give up their responsibility for participating in the transaction fee market.

I wonder if there is an overview about the different transaction processing policies the different pools use, so miners could decide which pool most closely matches what they agree with.

Topic: transaction processing policies - page 2. (Read 3002 times)