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Author Topic: What happens to the transactions fees?  (Read 592 times)
cam02003
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June 21, 2011, 07:08:57 PM
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I'm wondering what happens to the small transaction fee in a BTC transfer.  Does a miner get this? or someone else?

Thanks

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Bitcoin addresses contain a checksum, so it is very unlikely that mistyping an address will cause you to lose money.
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willaien
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June 21, 2011, 07:11:36 PM
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Whoever gets the reward for that cycle gets the fees.
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June 21, 2011, 07:11:57 PM
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Yes, the miner who includes your transaction gets it. It's payment for keeping the blockchain secure, and provides an incentive for miners to keep 'mining' in the future when bitcoins are no longer being generated.

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digdugg67
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June 21, 2011, 07:13:40 PM
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Anybody have an idea what the fees are in an average cycle?

Anyone ever solve a block care to share how much it was?

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June 21, 2011, 07:55:14 PM
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if you go to blockexplorer.com you can find out this for any solved block. Just click on its link on the left and the first transaction of the block will show the reward bitcoins (currently 50 bitcoins) and the total of all fees collected for that block. This can range from a few bitcents (often) to several bitcoins (rare). In general, the larger the block, the more the transaction fees it holds, but not always.

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