has the minimum possible tx fee been reduced?

I see a tx fee of 0.0017028 included in this recent block
http://blockexplorer.com/b/122954

I thought the min. fee was 0.01or was there always a way to do lower fees somehow if you wanted (i.e not zero but <0.01)?

I think there is also another dynamic - if the miners strike as you describe it causes the transaction speed to slow down this would impact the usefulness of bitcoin and hence reduce its value. So the 50btc the miners for solving a block would be worth less.

Go on strike and hope to extort extra tx fee revenue but the 50btc bounty is worth less
or
Don't go on strike the the 50btc bounty value is worth more

nice mention in the springwise blog today
http://www.springwise.com/financial_services/bitcoin/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+springwise+%28Springwise%29

also mentioned in the article is a site called currencyfair www.currencyfair.com - would be great if a site like that included bitcoin. Have used something similar called transferwise (only euro-gbp) and it works great.

thanks theymos.

Actually I've just been checking out your site (I'm right that you run the http://blockexplorer.com/ site?). Very cool.

the stats and tools are great http://blockexplorer.com/q

to answer one of my own questions the average number of tx/block is currently 20.017 from http://blockexplorer.com/q/avgtxnumber

thanks Plato.

that makes the tx fee business much clearer.
The blockexplorer site is very interesting. I see it gives info on the number of tx in the block. Are there any charts on this? i.e average# of tx/block over time - I know some blocks take longer than others to be solved so will on average contain more tx's.

At all the blocks I looked at the # of tx's seemed fairly low (low tens). Wonder what block had the largest # of tx's to date?

if bitcoin starts really taking off then the # of tx's /block could really start to increase and then the block size would get bigger and tx fees will play a more important role.

I could easily imagine 10btc/block in the future if there were millions of tx's per block. If bitcoin is to fulfill it's potential then it will have to be doing more than ~10 transactions every block (i.e. ~10 mins). wonder how many tx's visa or mastercard are doing every 10mins? just thinking out loud (or at least to the sound of typing keys).

just remembered this http://techcrunch.com/2011/04/29/jack-dorsey-shares-some-big-square-numbers-341688-readers-shipped-137m-total-flow/ - 23630 tx's in less than a day for square (a new startup doing credit card readers that you connect to your iphone). hmmm, that's only ~16/10mins. still a long way to go. some recent blocks http://blockexplorer.com/b/121120 have had 13 tx's. sorry just rambling here.

lots to think about

was reading about transaction fees at https://en.bitcoin.it/wiki/Transaction_fee and am still wondering a few things about them.

I see something about
No idea what the current blocksize is? How do you find this out?

have any transaction fees been paid/collected to date? or have all the transactions so far been fee free?
if so what sort of amount has been paid in btc for transaction fees?

any predictions for when transactions fees will start to be regularly be paid?

Am I correct in thinking that the miner who sloves the block gets the 50BTC + all the transaction fees for that block?
Any predictions when the typical transaction fee would be ~1,5,10,..BTC per block.

any good posts on this topic.


thanks

thanks for the feedback.

Do you get that ~3-4 MHash/sec 24/7?
Not a lot really I guess.

If my maths is correct at the current difficulty of ~92000 you would only make on average ~0.03 - 0.04 BTC per day with this setup (assuming getting 3-4Mhash/sec 24/7)

thanks again.

but if you only used the free tier and somehow limited it so that it wouldn't break the ToS.
Interesting what sort of kHash/s could be generated using the free tier.

Hi,

I'm wondering is it possible to mine using the Amazon cloud services?


Maybe would not be economical if it's possible but there is a free tier - so could possibly use that for free and get some free coins by mining.

http://aws.amazon.com/ec2/#pricing


Is it possible?
What do you think?

thanks for that. Looking at the GPU Caps viewer it only brings up the CPU for the OpenCL devices.

I found this http://superuser.com/questions/246909/ati-mobility-radeon-hd-4500-support-opencl-or-not which suggests that my card is DirectX 10 and only DirectX 11 or better supports OpenCL.

Does anyone know if there are any GPU miners that will work with non-OpenCL supporting (DirectX 10) GPUs

thanks again

first post.

totally new to all this. just playing around trying to learn about bitcoins.

Thanks for the GUI miner. Think I got it working with deepbit pool but I think it is using my CPU instead of GPU.
I'm trying it on my laptop - it has an ATI mobility radeon hd 4500 but that doesn't appear in the device drop down list in the GUI miner. Instead it only lists the CPU name -am I'm I right in thinking that that means it's using the CPU and not the GPU?

reading through the posts (sorry haven't gone through them all), common advice seems to suggest to update the GPU driver. I've checked and have the latest version.

Any suggestions how to get the GUI miner to use the GPU?
let me know if there are any other details that may be helpful to resolve this issue.

thanks