So the min fee in BTC is
0.0001BTC //now
0.00001BTC //soon
Anything below that is seen as the equivalent to offering zero (a waist of money).
It makes me really wonder; What is the minimum payment
you would personally accept before you would consider it zero-worthless-a-waste-of-your-time?
I would like to contemplate how far these rules can be 'pushed' not so I can go ahead and deliberately 'push' them, but to get a better understanding of the boundaries (a line of chalk on the floor). What about a very small transaction that is just above the threshold (below 1000 bytes in size, with an old coin age)? How long would that take to go through?
days, weeks? Is there a calculation for time-scale prediction?
For a second lets talk about faucets (The notion of a faucet is becoming ever more ridiculous to me). I don't do faucets but a friend does. I'm not wanting to bring the conversation entirely in this direction. I just want to make a grim point to her. Also just so you don't question my sanity - To add to my disclaimer; A transaction like this is almost infinitely unlikely (at least for 190 years) we would be dead by the time
.
I would like to know if this point is correct?It would take 6 inputs of 0.00001BTC (the sort of payout a faucet might give) each with a coin age of ten million conformations (with a block generated every ten minutes this would take 69444.4 days) would be like so, In order to be free:
(0.00001*10000000) + (0.00001*10000000) + (0.00001*10000000) + (0.00001*10000000) + (0.00001*10000000) + (0.00001*10000000)
a transaction like that in it's self is crazy in the first place but, that is what it would look like. How long though would it take to confirm a transaction like that?? It
is totally stupid
but, based on the rules of Bitcoin's coin age it cannot be classed as transaction spam!
All that has happened here is the potential irritation and inconvenience of the 'dumb ass'-fee-less transaction has been passed to the user. So I can see why these rules are implemented!
But the rules would have to change as the worth of bit coin grows. As you say the min fee will soon be lowered! But there must be some reasoning (or rather equation) behind this! Is the min fee decreasing periodically based on a % of Bitcoin's worth?