Yeah, but did you include the other 2000 blocks that have a fee in your calculations? 
sorry, what 2000 blocks?what calculation?
Topic: Tx fees going up. What is zero fee mining? What is fair pay? (Read 3661 times)
what calculation?
Yeah, but did you include the other 2000 blocks that have a fee in your calculations?
so anyway
http://blockchain.info/block-index/311449/0000000000000412cb93f5cceceebdd6bec88d5db691a17a823287c47713d2cf
Dunno what broke, but for occasions like these....
worth mining on a pool paying txn fees out?
http://blockchain.info/block-index/311449/0000000000000412cb93f5cceceebdd6bec88d5db691a17a823287c47713d2cf
Dunno what broke, but for occasions like these....
worth mining on a pool paying txn fees out?
Wow, 154.68299211 BTC is pretty decent income for a block.
If it had been on a pool that keeps transaction fees that would be almost a 68% fee. Yes, avoiding such steep fees is probably wise.
so anyway
http://blockchain.info/block-index/311449/0000000000000412cb93f5cceceebdd6bec88d5db691a17a823287c47713d2cf
Dunno what broke, but for occasions like these....
worth mining on a pool paying txn fees out?
http://blockchain.info/block-index/311449/0000000000000412cb93f5cceceebdd6bec88d5db691a17a823287c47713d2cf
Dunno what broke, but for occasions like these....
worth mining on a pool paying txn fees out?
The more chains get added onto the typical miner's list of chains all merged-mined at once the more resilient this all should become, as more chains reaching high levels of difficulty should result in more confidence in all of them, more money coming in to miners as even if money moves out of one chain it might well merely move to another instead of out of the cryptochain world completely, and the prospect of co-ordinating attacks on all chains at once might look more complex too. Maybe also depending on the niches various types of chain end up addressing the perception of what kinds of people you would be going up against by attacking might change. (For example if some nuclear labs use a blockchain for some weird reason or something suddenly you are looking at hmm do we want all the powers behind such a chain also coming after us not just the weirdo libertarians who use bitcoin?)
-MarkM-
-MarkM-
Yeah and unless you know of any fixed BTC cost mining hardware or flat rate BTC power companies the attackers cost are also in USD/EUR. So the net gain has to be measured against the cost to the attacker which is primarily in fiat currencies.
The gain will be in bitcoins, so if the bitcoins are worth more in fiat to the miners they will be worth just as much more in fiat to the attackers. Duplicating a 1000 BTC transaction will be much cheaper compared to the gain if the miners only get 1.5 BTC from a block.If it cost an attacker $200M to attack the network then the reward has to be more than $200M.
And if the value of the BTC has increased tenfold it's because bitcoins have become more popular. With popularity comes more valuable transactions, more opportunities to take advantage of a double spend attack for those who want to scam, and more incentives for companies and organizations which don't want Bitcoin to succeed. 
Miner's costs are in USD (or EUR,etc). For protection what matters is the real cost to attack the network.
No, what matters is cost vs benefit/profit for the attacker.Yeah and unless you know of any fixed BTC cost mining hardware or flat rate BTC power companies the attackers cost are also in USD/EUR. So the net gain has to be measured against the cost to the attacker which is primarily in fiat currencies. If it cost an attacker $200M to attack the network then the reward has to be more than $200M.
Miner's costs are in USD (or EUR,etc). For protection what matters is the real cost to attack the network.
No, what matters is cost vs benefit/profit for the attacker.
Miner's costs are in USD (or EUR,etc). For protection what matters is the real cost to attack the network. IF miners are compensated 10x as much then more hashing power will be added and the cost to attack the network will increase.
https://en.bitcoin.it/w/images/en/e/e3/Total_bitcoins_over_time_graph.png
So by 2029 when each block only rewards ~1.5 BTC, TX fees will make up most of the incentive to continue mining?
Maybe. Or perhaps the exchange rate will be $100/BTC!So by 2029 when each block only rewards ~1.5 BTC, TX fees will make up most of the incentive to continue mining?
I though more than 5 pools paid out txns to miners
https://en.bitcoin.it/wiki/Comparison_of_mining_pools
https://en.bitcoin.it/wiki/Comparison_of_mining_pools
Hmm, no abc pool in the list, I wonder what could that mean
Only the finest pools pay tx fees. It's an exclusive club.
++
Only the finest pools pay tx fees. It's an exclusive club.
Bitlc.net pays tx fees as well, although it's not listed on that page as doing so.
I though more than 5 pools paid out txns to miners
https://en.bitcoin.it/wiki/Comparison_of_mining_pools
https://en.bitcoin.it/wiki/Comparison_of_mining_pools
https://en.bitcoin.it/w/images/en/e/e3/Total_bitcoins_over_time_graph.png
So by 2029 when each block only rewards ~1.5 BTC, TX fees will make up most of the incentive to continue mining?
Maybe. Or perhaps the exchange rate will be $100/BTC! So by 2029 when each block only rewards ~1.5 BTC, TX fees will make up most of the incentive to continue mining?
So by 2029 when each block only rewards ~1.5 BTC, TX fees will make up most of the incentive to continue mining?
Ozcoin is now paying txn fees to DGM miners
Good stuff
Ozcoin is now paying txn fees to DGM miners
Of course not every block has 5 BTC in fees. But the transaction fees are steadily rising: http://blockchain.info/charts/transaction-fees
Something to consider when you think about mining fees.
Something to consider when you think about mining fees.
All the more significant when block reward halves. This is a good selling point.
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