Bitcoin Forum

if I send 1 bitcoin to my friend and I paid 20,000 satosi for the transaction
who gets the transaction fees?  :-\

The miners. They get the block reward + all the transaction fees I think.

You voluntarily provide a transaction fee on your transactions in order to create an incentive for a solo miner (or mining pool operator) to include your transaction in the block they are working on instead of a transaction from someone else that pays a smaller fee.

In exchange for confirming your transaction in their block, the miner receives a block reward.  The block reward is the sum of the current block subsidy (25 brand new bitcoins that come into existence) and all the transaction fees paid by all the transactions that the miner chose to include.

Some pool's are nice and share it with miners.  There are pools like Antpool where the dev's/company keep it currently and they give just the block reward to miners.  but they do have a PPS 2.5 fee only is how they justify.

But some pools are better and share it where you mine.  Also there is merged mining where some get some alt's very slowly.  I highly recommend reading the individual pools sometime if you have time.  It is a good learning experience even if you are not a miner.

Not only 20000 Satoshis. If you send 1 BTC also there is ransaction fees for that. Whenever You are transfer bitcoins from one wallet to another wallet Its done through miners only. So for that they will get bitcoins as mining reward.

this is done especially because in the future there will be no more reward for the miners, so their only reward would be the fee

If I send one bitcoin with no transaction fee, because the receiving address needs exactly that amount.

Will the transaction get confirmed, or any amount over the one bitcoin?
Just asking.

well the transaction may get confirmed but it will take a really loooooooooooooooooooooong time. I think it would take 2-3 days at least to get confirmed (if the amount of inputs are quite low, it maybe just a little bit faster)

Thanks, I guess it makes more sense to include the fee.

I was thinking that it may never get confirmed then removed from the blockchain, I have had some inputs sent to me that had done just that.

in addition to that, AFAIK the older the coins, the faster it will confirm even there is no transaction fee paid.

I think the owner of blockchain.info if you transfer with blockchain. maybe the fee for maintenance the blockchain. and maintenance the facility of blockchain. cmiiw.

The fee goes to the miner who mines the block that includes your transaction. The fee is based on the size (in bytes) of the transaction and the age of its inputs (how long ago the coins spent were received).

if you don't know what you are saying it is best not to post your opinion, it could give fake beliefs to some users. read the posts above and you will know how and where it is going

Yes, if the coins have sufficient priority (age and size in bitcoin) they can get confirmed without fee. With the high number of transactions currently waiting its usually better to pay a fee though.


#1 read the thread, the answer was already given
#2 repeat with me: blockchain.info is a service is a service is a service and NOT the blockchain.

At the moment the miner gets the fee. I think that the guy who verifies and confirms the transaction should get the fee. In some cases this is the miner, but some miners are not confirmining transactions to try to grab a block quickly. They are essentially cheating the system, and shouldn't get the fee. If full nodes were able to confirm the transaction, then they should get the fee. This would help to keep bitcoin decentralised.

If a solo miner confirms a transaction, they get the fee.  If a mining pool confirms a transaction, then the pool gets to decide what to do with the fee.  They can keep it, or they can share it with the participants in the pool (or whatever else they want to do with it).


In all cases it is the solo miner or the mining pool.


It isn't significantly faster to confirm blocks with transactions than it is to confirm blocks without transactions. When solving blocks you are just solving the 80 byte header regardless of whether you have 1 transaction or 1000 transactions in the block.


They are not cheating the system.  They are providing security for the system, and in exchange they receive the 25 BTC block subsidy if they successfully solve the block.  The do not get any fees.  Miners only get the fees of the transactions that they confirm in their block. If they don't confirm any transactions, then they don't get any fees.  Therefore, the fee is an incentive to the miner to include transactions.  Miners that don't include transactions are only cheating themselves since they are missing out on all the fees which some other miner will get instead.


Full nodes will get the fee if they confirm the transaction.  That means they are a miner. That's what mining is, confirming transactions by solving blocks.

My post was based on my belief that an SPV miner doesn't verify transactions, but relies on the fact that "full" miners and full nodes do the job for him. This is what I meant by "cheating" the system. Have I misunderstood the system. As blocks become harder to find, they will need to increase in size as traffic increases. I was suggesting that an alternative way to reward those checking transactions could be beneficial. Without block discovery, it may not be possible though.

You are mistaken.

The "V" in "SPV" stands for the word "Verification".  SPV is an acronym for "Simple Payment Verification" as can be seen in the original bitcoin whitepaper in section 8:
https://bitcoin.org/bitcoin.pdf


There is no "cheating" involved in running an SPV wallet.  As a matter of fact, when the bitcoin protocol was created, it was assumed that the vast majority of users would eventually run SPV wallets, and that only a small number of highly specialized server farms would be running full nodes and doing any mining.  That was the intended design.  Miners confirm transactions and get the block subsidy and transaction fees.  Full nodes enforce the consensus rules and verify ALL blocks and transactions.  SPV nodes verify the payments that they send and receive.


Probably.


I think you have the cause and effect mixed up there.  Blocks only become harder to find if more hashing power is added to the network.  They continue to be found at an average rate of 1 every 10 minutes.

If traffic increases, blocks could remain the same size.  This could result in higher transaction fees to get a transaction added to a block quickly, or it could result in off-chain payment systems, or it could result in some other solution.

It is also possible that traffic stops increasing if the transaction fees get high enough, or that blocks become easier to find if the hash power decreases.


It would be difficult to create a system that would make it possible to reward every full node just for verifying and relaying transactions. You'd probably run into some pretty serious problems with sybil attacks.  You might be able to prevent sybil attacks by instituting a proof-of-work requirement to earn the payment, but that's what mining already does so you'd just be re-inventing mining.


More importantly it would probably be difficulty (if not impossible) without some sort of proof-of-work.

I think Jet Cash is talking about miners that mine on unverified blocks (as in they just assume they are correct and start with an empty block on top of it) and caused serious issues a while back. The term "SPV mining" was coined for that and yes its misleading.
-> https://bitcointalk.org/index.php?topic=1274066.0

I like this answer and now i learn a little bit about the fee thats why you need to pay for the fee for every transaction did you made..
Need some another research...i came back to learn more about bitcoins i found this forum since november i thought. but anyway nice answer and it help to me..

The transaction fee is present to prevent spam and for reward the miners who verify the bitcoin transaction.

Lol, the joke about the spam part. There are so many spam posts like this on Bitcointalk, why don't the mods delete them. Something like this is just so obvious, why does someone have to create a thread just for this question? They can google it and find an answer in 2 seconds.

You are exactly right dude. Whenever the bitcoin is getting transact from one wallet to other that time we can see the transaction fees. That work will take care any Miner. Miner who is handling that they will get the reward for that from the blockchain. More than transaction amount they will get pay.

because having more traffic is better than no traffic, does not matter if there is some spam

besides this, all those question from new, come from hero member that are farming other account, or feeding their current sig with those stupid question

Yes the transaction charge goes to the Miners who are the base for the proper functioning of this forum. One more reason why this miners were given the transaction charge is they are the uninterrupted power suppliers for Systems involved in transaction.

Nope. Forums like this run just fine without the existance of bitcoin or miners.


Power suppliers? What do you mean by that, it sounds like miners generate electricity and Im pretty sure you picked up enough to understand this is utter nonsense.

The miners will get the transaction fees. They are the people process the transactions. Without them, there will be not bitcoin.

i think free online wallet take this fee

The miners will get the transaction fees.

those miners who work for you

Because mod have other jobs to do and there are 2 reason someone create a thread just for this question.

1- Increase post count
2- Already search but too many site that make confusing for newbie

Im newbie in bitcoin, i want to learn about bitcoin..
so i ask and open this thread..

like titibach says if im searching at google i found 1.000+ article  :-X
it's make me confusion

okey...
i lock this topic before more spamer come at my thread