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Author Topic: Where do transaction fees go?  (Read 355 times)
sinistral (OP)
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March 13, 2013, 10:44:54 PM
 #1

I'm wondering who ends up with the transaction fees for moving from wallet to wallet. Thanks! Smiley
MoonShadow
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March 13, 2013, 11:01:09 PM
 #2

the miner that includes your transaction into a block.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
BlindMixerDR
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March 13, 2013, 11:09:44 PM
 #3

Transaction fees were planned in bitcoin from the very start. When the block reward (now 25BTC) eventually (in about 100 years) reaches zero, the only miners will have to mine, is because they receive transaction fees. If the value of the fees are very high, it will attract more people to a profitable business so the difficulty will increase and the network will become more secure. If the value of the fees are very low, miners who make a loss will stop mining so the difficulty will reduce and the network will become less secure.
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