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Title: Questions on Transaction fees. Post by: Chrithu on May 13, 2013, 02:48:15 PM Hey folks.
I've noticed that whenever I make "larger" (like >0.01) transaction I have to pay a "small" (0.0015+) fee which "is spread amongst the nodes veryfiyng the transaction". My questions are: How can I become such a node myself (using bitcoin-qt)? Is that transaction fee avoidable? Title: Re: Questions on Transaction fees. Post by: temperature on May 13, 2013, 04:50:18 PM you'll get the fee regardless. so not to worry
Title: Re: Questions on Transaction fees. Post by: crary on May 13, 2013, 05:06:11 PM To become a node, as you put it, you would have to become a miner. These days, that requires a significant outlay of capital and is not an economic strategy for recovering tiny transaction fees.
I think it is theoretically possible to get small transactions into blocks without paying fees, if you can get it to a miner who will accept it, but it can't be done easily or quickly. It not worth the trouble to avoid a 5-cent transaction fee. Title: Re: Questions on Transaction fees. Post by: bitfitted on May 13, 2013, 05:06:47 PM The nodes verifying the transaction are called miners. You are going to have to mine (in a pool) in order to be eligible to get transaction fees from transactions.
Is that transaction fee avoidable? Basically, yes. You can however avoid the transaction fee altogether, but then it will take a very long time until a transaction is confirmed. Also, you risk of getting into a 0-confirmation limbo which, albeit rare, is still possible. |