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Author Topic: Question about pooled mining and transaction fees  (Read 1582 times)
Chaseshaw
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September 10, 2012, 08:26:11 PM
 #1

I was under the impression that the transaction fees were also awarded to the miners. So, on the large pools (I use slush, for instance), do they just pocket the transaction fees in addition to the btc "fee" they charge for the block generation?

What's the current transaction fee (on average) per block? Is this something to start being concerned about?





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Meni Rosenfeld
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September 10, 2012, 08:31:26 PM
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Some pools forward tx fees, most keep it.

Currently tx fees revolve around 0.05 BTC which is 0.1%, I don't think they're something to worry about now. They definitely will be in the future.

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September 11, 2012, 01:32:45 AM
 #3

Some pools forward tx fees, most keep it.

Currently tx fees revolve around 0.05 BTC which is 0.1%, I don't think they're something to worry about now. They definitely will be in the future.
sorry Meni
TXN fees are increasing substrantially
Ozcoin is regularly receiving TXN fees between 0.1 and 0.6 BTC per block, yesterday we had a good one at 0.8935006BTC of TXN fees

6 of the 24 pools listed here http://blockorigin.pfoe.be/top.php pay out txn  fees as shown on https://bitcointalk.org/index.php?topic=104664.0

TXN fees are paying more than the Namecoin component of Merged mining on Ozcoin, I think they are well worth worrying about Smiley

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September 11, 2012, 04:24:41 AM
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sorry Meni
TXN fees are increasing substrantially
Ozcoin is regularly receiving TXN fees between 0.1 and 0.6 BTC per block, yesterday we had a good one at 0.8935006BTC of TXN fees

6 of the 24 pools listed here http://blockorigin.pfoe.be/top.php pay out txn  fees as shown on https://bitcointalk.org/index.php?topic=104664.0

TXN fees are paying more than the Namecoin component of Merged mining on Ozcoin, I think they are well worth worrying about Smiley

TX fees are only going to get bigger, but only as Bitcoin adoption increases, not as the hash speeds increase, correct?

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September 11, 2012, 04:35:21 AM
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sorry Meni
TXN fees are increasing substrantially
Ozcoin is regularly receiving TXN fees between 0.1 and 0.6 BTC per block, yesterday we had a good one at 0.8935006BTC of TXN fees

6 of the 24 pools listed here http://blockorigin.pfoe.be/top.php pay out txn  fees as shown on https://bitcointalk.org/index.php?topic=104664.0

TXN fees are paying more than the Namecoin component of Merged mining on Ozcoin, I think they are well worth worrying about Smiley

TX fees are only going to get bigger, but only as Bitcoin adoption increases, not as the hash speeds increase, correct?
yes transaction fees are paid by people using Bitcoin and doing transactions, so the economy needs to expand.
also Gavin recently released a patch so pools could prioritise txn fees on fee amount - something Bitcoin users had been asking for, this is partly a result of satoshidice transactions.

hashing /hashrate is verifying the transactions and has nothing to do with the amount of txn fees Smiley

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September 11, 2012, 04:41:01 AM
 #6

Yeah Meni # are a little old.  Avg tx fees are closer to 0.20 per block now.   That is up from ~0.04 per block at the beginning of the year.  Still small but they will be increasingly important.  Say tx volume doubles and avg fee also doubles and this is after the subsidy cut goes into effect.  That would make fees go from ~0.4% to ~3.0% of total compensation.
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May 07, 2013, 07:46:27 PM
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Im curious which pools keep the tx fees and which distribute them, also for LTC Im curious about the same question as there is a .1 fee for ALL transactions.

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May 07, 2013, 11:40:38 PM
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Im curious which pools keep the tx fees and which distribute them, also for LTC Im curious about the same question as there is a .1 fee for ALL transactions.
https://bitcointalk.org/index.php?topic=104664.0 is a comprehensive list of Bitcoin mining pools including who does and doesn't payout txn fees
re litecoin - the alt-currency subforum is where you should be asking Smiley

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