Topic: where is going transaction charge ??? (Read 1084 times)

You can send transactions (without transaction fee) for free. It is however not recommended as pools ignore these transactions resulting in you having to wait more than a day in some cases. And that's when you're lucky.

Small transactions without fee mostly don't get confirmed at all. The only thing you can do is wait for the coins to return to your wallet, or double spend with this time an appropriate fee included.

Before some days ago, i also was thinking about it, but why it is not total free? Some wallet charge, amount transfer charges and bitcoin change into other currency than they charge us. But it is an other question.
About OP you ask a good thread. I also clear my mind from member's reply.   

thanks for ur your answer i quite satisfied with it ...

Since the miners are using their computing power to send the bitcoins, they get rewarded with a small fee. After all the bitcoins are mined, this will be the only way miners will get any reimbursement as far as I know.

I know I am the one that already stated those two five post up.  

I think the above explanation it is clear where to go in transaction costs maybe would be better if lock this thread.

Correct.


It is a miner (or mining pool) that solves a new block.

The miner (or pool) keeps track of all the unconfirmed transactions that they've heard about.  They choose which of those transactions (if any) they want to confirm and assemble them into a block.  They then build a header record for that block that has information about the block of transactions and information about the most recent block that has been added to the blockchain.

They then begin trying to "solve" the block.  To do this they calculate a double SHA256 hash of the block header and see if the resulting value is less than the current target difficulty.  If it is not, then they modify the block header a little bit and try again.  They repeat this process until they either hear about a valid new block from a connected peer or find a solution themselves. Regardless of whether the new block is one they receive from a peer or that they created themselves, they then add the block to their blockchain, remove all the transactions that are in the block from their list of unconfirmed transactions, and start over again.

If they chose to include your transaction in their block, then they get the fee from the transaction and the transaction has it's first confirmation.


Yes.  When a transaction first shows up in a block in the blockchain, it is said to have it's first confirmation.  Each additional block added to the blockchain on top of that block is considered to be an additional confirmation.


As has been explained, the miner (or pool) is running a full node that is connected to peers (other full nodes in the bitcoin network). When you send a transaction you (or the service that you are using) is connected to other full nodes in the bitcoin network.  Each node that receives the transaction verifies that the transaction is valid and then re-broadcasts it to all the peers that the node is connected to.  Then each of those peers verifies that the transaction is valid and re-broadcasts it to all the peers that the node connected to.  This process repeats until the entire interconnected network (including any miners or pools) have heard about the transaction.

Each node (including miners and pools) keeps its own list of unconfirmed transactions that it has heard about.  Eventually if the transaction gets old and hasn't yet gotten confirmed into a block, the node will remove the transaction from its own memory to make space for newer transactions. If it hears about the transaction again, it will add it back into its list.


Every node on the network stores its own copy of the transaction for as long as the node is programmed to.  There is no minimum or maximum amount of time enforced by the protocol.  Some nodes might be written to remember the transaction forever, others might be written to forget the transaction immediately.  Typically it seems that most of the network has forgotten about the transaction if it isn't confirmed yet withing 3 days or so.

It's not only CoinJar which pays the transaction fees if you use their bitcoin wallet.

Xapo and coinbase and other services pay the transaction fees too but why they do this is because they track their users where are they spending their bitcoins.

They have also their exchange platform which generate money so the transaction fees are covered easily by them.

Another one that I found is Coinjar.
They don't charge any transaction fees.

Anybody know why? Who pays these fees really and is this just a hidden thing that we will all eventually pay in the future for using these web wallet services?

When you send a transaction, it is broadcast to all of your peers, nodes that your wallet has connect to. These nodes will verify the transaction. If it is good, they will store a copy of it in their memory pool (a database in the memory that contains all of the unconfirmed transactions that the node knows of) and broadcast the transaction to their peers, and so on and so forth. Some of those nodes will be miners, so they will store the transaction in their memory pools as well. When miners go to create blocks, they go to the memory pool and choose transactions from there to include in a block.

That would bring me to another question:
How does a miner know that a transaction was made?
I mean where are they stored before they are recorded as a part of the blockchain?

Exactly the miner who mine the first block after your transaction was made!

So you can see in the blockchain.info the number of blocks and when they were mined (like 10 min ago, 16 min ago)

If your fees were enough(not too low) then it should be included in the next block and that is counted as the first confirmation, and then every block after it is +1 confirmation.

I am wondering another thing:
The fee goes to the miner who first adds it to a new block.
So is that baisically the miner who finds a new block?
And is that then what I read as first confirmation?

Miner's fees are those TX charges you see.

You can bypass paying them if you choose to use a web wallet with one of the larger companies that handle those charges on your transactions for you.

They are Xapo and Coinbase that I have used that I never pay any miner's fees for my transactions from my wallet. When I look at the tx id after there is a fee paid out to the miner's but not from my wallet. They absorb that into their sends from me using their service.

Yup it's going for miners who is helping with the bitcoin to transact t from one address to another one. For that they were consuming transaction fees. These fees will go to that miners.
These transaction will move with in the blocks and transaction time is depending upon the minimum and maximum fees.

the transaction fee will be included at block and miner will take it
example :
 https://blockchain.info/block-index/1139096
Number Of Transactions    921
Output Total    14,600.91649159 BTC
Estimated Transaction Volume    921.80048332 BTC
Transaction Fees    0.22148883 BTC
so miner will get 12,5btc+ 0.22148883(fee transaction)
see at this transaction https://blockchain.info/tx/ca420a4fb52eaf84275685578acad31646ae985d012dee9c1f5ae0e788e8670d (reward mining)

If you are talking about coinbase the company, then that is because coinbase pays the transaction fee for your. Blockchain.info does not do that for you and you have to pay the fee yourself from your wallet.

thank you to explain me . but i want ask another question that why without fee the transaction of coinbase confirmed while that of blockchain not .

both addresses starting with 1 and 3 are bitcoin addresses and following the same rules as far as sending/receiving bitcoin and fees are concerned

the only difference between the two types of addresses (starting with 1 or 3) is the version of them and they are called multi signature addresses: https://en.bitcoin.it/wiki/Address#Multi-signature_addresses

so even with coinbase, someone is paying the fees to the miners, even if it is not you the service you are using (coinbase) is paying the fees for you.
next time you sent a bitcoin transaction from your coinbase address starting with 3 check the txid in an online block explorer and see the fees for yourself.

yeah it is right. but i don't why coinbase and other wallet that the prefix is "3" does not have any transaction fee while blockchain wallet or wallet address that prefix is start from "1"
is always have a transaction fee. can you explain why that two wallet is different in terms of transaction fee? thanks in advance chief