All the information's publicly posted, so I don't see why it would be too difficult for a client to pull this information.
It should be noted that a .0005BTC bid is not equal among miners, core rules ignored for a minute. Certain pools create certain allowances, bans, and modifiers for different transactions, as well as perhaps certain entities. The SDice patch is a good relevant example. The worrisome spat of no-tx blocks a while back is also a good example of "the rules" being modified - because the rules are more default settings than rules, as I understand it. If you made Luke-Jr really mad, for instance, he may have Eligius ignore all transactions coming from addresses known to be yours., and IIRC, Eligius is known for having irregular bid rules.
Thus, there probably isn't particularly accurate information on whether or not the particular tx you send out will be included in the next block. But, you could get a fuzzy idea using simple information, assuming everyone uses the default bid weight settings.
Topic: Why does everyone keep calling them fees? They're not fees, they're BIDS! - page 3. (Read 3018 times)
March 10, 2013, 08:07:08 AM
March 10, 2013, 07:53:59 AM
Hmm OK, so I guess that that's not so controversial then 
Following up on that: is it supposed to be part of Bitcoin's core functionality to manage this "block-space bidding" market?
Price history -- core Bitcoin thing or 3rd-party widget/add-on?
Is it possible to withdraw bids?
-I suspect it is, but is there a user interface for it?
Is it possible to see what others are bidding for the same block?
Maybe I'm just behind the times and some of the light-weight clients provide more bidding features than bitcoind?
Following up on that: is it supposed to be part of Bitcoin's core functionality to manage this "block-space bidding" market?
Price history -- core Bitcoin thing or 3rd-party widget/add-on?
Is it possible to withdraw bids?
-I suspect it is, but is there a user interface for it?
Is it possible to see what others are bidding for the same block?
Maybe I'm just behind the times and some of the light-weight clients provide more bidding features than bitcoind?
March 10, 2013, 07:37:26 AM
When one pays a so-called "fee" for a transaction, it's not really a fee at all. It's a bid! It's simply bidding for space in the next available block.
So-called miners are the entities auctioning block-space to the highest bidders.
I've been wondering why there has been so much confusion surrounding the whole "increasing the block-space" thing, and I think it at least partly boils down to a highly misleading nickname. They're not fees, they're bids!
The way I understand it, every time a new block is discovered, an auction occurs and individual kilobytes of that block are auctioned off to the highest bidders. However, at the moment there's a problem because it seems like such a crappy opaque process with very little market transparency. This needs to be improved. Before requesting any transaction, I want to know the "going rate" and the estimated delivery time depending on how much i BID.
Agree? Disagree? Please discuss.
So-called miners are the entities auctioning block-space to the highest bidders.
I've been wondering why there has been so much confusion surrounding the whole "increasing the block-space" thing, and I think it at least partly boils down to a highly misleading nickname. They're not fees, they're bids!
The way I understand it, every time a new block is discovered, an auction occurs and individual kilobytes of that block are auctioned off to the highest bidders. However, at the moment there's a problem because it seems like such a crappy opaque process with very little market transparency. This needs to be improved. Before requesting any transaction, I want to know the "going rate" and the estimated delivery time depending on how much i BID.
Agree? Disagree? Please discuss.
Agree.
March 10, 2013, 07:32:00 AM
When one pays a so-called "fee" for a transaction, it's not really a fee at all. It's a bid! It's simply bidding for space in the next available block.
So-called miners are the entities auctioning block-space to the highest bidders.
I've been wondering why there has been so much confusion surrounding the whole "increasing the block-space" thing, and I think it at least partly boils down to a highly misleading nickname. They're not fees, they're bids!
The way I understand it, every time a new block is discovered, an auction occurs and individual kilobytes of that block are auctioned off to the highest bidders. However, at the moment there's a problem because it seems like such a crappy opaque process with very little market transparency. This needs to be improved. Before requesting any transaction, I want to know the "going rate" and the estimated delivery time depending on how much i BID.
Agree? Disagree? Please discuss.
Totally agree. So-called miners are the entities auctioning block-space to the highest bidders.
I've been wondering why there has been so much confusion surrounding the whole "increasing the block-space" thing, and I think it at least partly boils down to a highly misleading nickname. They're not fees, they're bids!
The way I understand it, every time a new block is discovered, an auction occurs and individual kilobytes of that block are auctioned off to the highest bidders. However, at the moment there's a problem because it seems like such a crappy opaque process with very little market transparency. This needs to be improved. Before requesting any transaction, I want to know the "going rate" and the estimated delivery time depending on how much i BID.
Agree? Disagree? Please discuss.
March 10, 2013, 07:18:00 AM
When one pays a so-called "fee" for a transaction, it's not really a fee at all. It's a bid! It's simply bidding for space in the next available block.
So-called miners are the entities auctioning block-space to the highest bidders.
I've been wondering why there has been so much confusion surrounding the whole "increasing the block-space" thing, and I think it at least partly boils down to a highly misleading nickname. They're not fees, they're bids!
The way I understand it, every time a new block is discovered, an auction occurs and individual kilobytes of that block are auctioned off to the highest bidders. However, at the moment there's a problem because it seems like such a crappy opaque process with very little market transparency. This needs to be improved. Before requesting any transaction, I want to know the "going rate" and the estimated delivery time depending on how much i BID.
Agree? Disagree? Please discuss.
So-called miners are the entities auctioning block-space to the highest bidders.
I've been wondering why there has been so much confusion surrounding the whole "increasing the block-space" thing, and I think it at least partly boils down to a highly misleading nickname. They're not fees, they're bids!
The way I understand it, every time a new block is discovered, an auction occurs and individual kilobytes of that block are auctioned off to the highest bidders. However, at the moment there's a problem because it seems like such a crappy opaque process with very little market transparency. This needs to be improved. Before requesting any transaction, I want to know the "going rate" and the estimated delivery time depending on how much i BID.
Agree? Disagree? Please discuss.
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