Who gets the miners fee? - page 2. | Bitcointalksearch.org

odolvlobo

legendary

Activity: 4466

Merit: 3391

Quote from: WadeWilson on February 21, 2016, 10:14:49 AM

I do not understand why we have to pay for 4 cent per transaction tough, isn't that too much? Who decides the 0.0001 should be the optimal miners fee? How come I get lighting fast transaction if I pay 0.01 and I wait 2 days if I don't pay any?

The miner decides if your transaction will be included in their block. One of the factors in their decision is how much you are paying them. There is a (very small) cost to including a transaction and there is a limit to how many transactions that can fit is a block, so the miner is going to choose transactions with higher fees first.

Amph

legendary

Activity: 3248

Merit: 1070

the fee are a way to reward miners on top of the reward for securing the network, it's a pre-gift in the view of the "fee era" when there is no more reward

actually it is needed way before that around 2024-2028, the size https://en.bitcoin.it/wiki/Transaction_fees

WadeWilson

newbie

Activity: 47

Merit: 0

I do not understand why we have to pay for 4 cent per transaction tough, isn't that too much? Who decides the 0.0001 should be the optimal miners fee? How come I get lighting fast transaction if I pay 0.01 and I wait 2 days if I don't pay any?

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: WadeWilson on February 21, 2016, 09:08:40 AM

Now before you say 'duh miners of course' , I would like to ask , when people mine , they get what? 12.5 bitcoins per block? 25 btc? whatever , they get something from the 'unmined bitcoins' part .

Why do we also have to pay them certain amount to send something to other people? If we have to pay something for the sake of involving in a technical detail which I am too far away of understanding , why are we not paying just 1 satoshi?

Considering all the transactions everyday all day , miners probably started to make more money from miners fee rather then mining unmined coins. 4 cent could be little for one person but when all combined in everywhere , it is huge.

The pool that solved it get's the block reward + fee's. Some pools treat it different though. Look at antpool they are 2.5 percent on PPS and keep all transaction fees for the pool. Compare to F2 it is 4.5 PPS but you get merged mining and fees.

So in a sense the miners do get it. But can very based on pool.

WadeWilson

newbie

Activity: 47

Merit: 0

Now before you say 'duh miners of course' , I would like to ask , when people mine , they get what? 12.5 bitcoins per block? 25 btc? whatever , they get something from the 'unmined bitcoins' part .

Why do we also have to pay them certain amount to send something to other people? If we have to pay something for the sake of involving in a technical detail which I am too far away of understanding , why are we not paying just 1 satoshi?

Considering all the transactions everyday all day , miners probably started to make more money from miners fee rather then mining unmined coins. 4 cent could be little for one person but when all combined in everywhere , it is huge.

Topic: Who gets the miners fee? - page 2. (Read 1217 times)