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The fees are voluntary. Clients can offer no fee, but miners aren't likely to pick up a transaction for inclusion in the network without sufficient fee. You can avoid fees by using old transactions as funding or by using large bitcoin amounts, preferably both. These go toward transaction priority. If your priority is high enough, most miners will accept your transaction without a fee.
If you want to pay no fees, just recompile the client with MIN_TX_FEE and MIN_RELAY_TX_FEE set to 0. But if your transactions aren't accepted, don't say we didn't warn you.
If you want to pay no fees, just recompile the client with MIN_TX_FEE and MIN_RELAY_TX_FEE set to 0. But if your transactions aren't accepted, don't say we didn't warn you.
Did exactly that, thanks. It takes maybe up to an hour for the first confirmation, usually less, not too big a deal. I have done many test runs and they all seem to go through fine
Question: Later, when there are more transactions and more complicated transactions with parts of blocks etc., and miners are working mostly for transaction fees instead of block awards, what happens when I send a no-fee transaction and it's not accepted by anyone? Do those coins just disappear? Are they lost in limbo forever? Will they someday eventually get picked up in a new block? Can the recipient pay a fee to get the transaction confirmed if he gets tired of waiting?
I would like to see finer control over our transactions, kinda like when you pay for different shipping methods while shopping online: there would be a list of fast, medium, slow transaction speeds (with ETAs) and an approximate transaction cost for each. I understand that it is impossible to predict transaction costs since a given payment may incorporate many different blocks, but I think it would make people feel better if the client digested the various formulae for calculating transaction fees and their results for them.
I'm new to both Twitter and Bitcoin... I don't seem to have gotten my 0.10 BTC? Can somebody help?
