Topic: Why is 0.00000001 BTC "too small" with Bitcoin QT? (Read 1251 times)

This exact information can be found rather easily, without making someone else find it for you.

You must be new to discussion forums.  Lets take your logic to its natural end.  Any repeating topic should never be allowed.

Therefore, close the forums down and tell people to use the search box.  Right?  

I didn't realize this was related to that blockchain bloat / dust issue.  I've heard Andreas mention it many times and I understand its purpose now.

Thanks all.

-B-

Use blockchain, don't see other way. Then fee would be too large and sending it without a fee takes ages to confirm.

what do you need to go around sending one cent for? I think they should get rid of the cent in the US and round to the nickel.... and round to nearest 50 cents in bitcoin to get rid of worthless 'advertising' spam transactions. Stop whining.

This is not entirely true.

You encrypt your private key locally with your password, and then you send your encrypted private key to blockchain.info.

This is why you can access your wallet from multiple computers.  When you log into your wallet on their website, they send down the encrypted private key from their database, and then that private key is decrytped locally using your password.

Of course, this can make it very dangerous to access your blockchain wallet if you are at a public computer (since the computer could have malware that records your password and captures your private key).

mBTC is the way to go, i think its rather pointless to send any less.

Please ... talk in mBTC. 

0,00000001 = 0,00001mBTC

it's useless for a transaction, sorry ... in Euro, you can't money less than 0,01 Euros.

You do not give your private key to blockchain.info when you access your wallet. They do not have your private key, you store it locally.

If you want to send a transaction with an output less than 0.00005430 BTC, you can do it with raw transactions.  If you don't want to do that, you can hire someone to modify your client for you.  It is open source, and nobody except you can decide what your client can and can't do.  Of course, that's true of everyone else too.  You can't force me to relay your spammy dust transaction if I don't want to.

Since most of the network has chosen to run clients that won't relay your spammy dust transaction, you'll have a difficult time getting the transaction sent out onto the network.  However, if you can find a miner (or mining pool) that is willing to confirm such transactions into the blocks that they create, then you can send the transaction directly to that miner.  Once it is in a block, the rest of the network will acknowledge it.

I'm not sure why a miner would want to confirm your spammy dust transaction instead of a more useful transaction of another user.  Especially if that other user is willing to pay the miner for the service (transaction fees).

Nothing in the protocol is preventing you from creating the transaction or getting it confirmed.  Your peers just don't want to cooperate with your plans.  Perhaps you need to find some better peers.  Try checking out some of the other alt-coins.  I'm sure you'll find one willing to relay spammy dust transactions.

The transaction fees will and are adjusted accordingly.


This is why it's a good idea. Why would anyone want or need to send the tinest fraction of a Bitcoin? And if you did, you should have to pay a fee.

This discussion again?

Seriously?

The 10,000 other times that I've seen discussions on bitcointalk about transaction fees and spammy dust weren't enough to settle the matter?

Somehow this particular discussion will have a different result than all the other discussions?  Highly unlikely.

It will be changed if the price rises. But suppose I create 10,000 transactions a minute at that amount. I could tie up the network with unproductive transactions that cost the network. A sort of DoS attack. I think that's the reason.    

It can be adjusted to better fit actual circumstances.

What exactly is a worthless transaction?

What if one day the lowest BTC unit is equal in value to $1?

Then, we have a $%##% problem. The whole world will come to a stand-still because no transaction is going to get processed..

This limitation is quite deliberate. It makes flooding the network with tons of transactions much more expensive.

What needs fixing exactly? I don't think miners should have to process such a worthless transaction without a fee.

Or fix the wallet.

Thanks Barek.

-B-

Or pay the fee or send a higher amount.

yeah, give your private key to some random website.

naw, fix them dam wallets instead...