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Author Topic: Making Money.. Transaction fee question?  (Read 140 times)
FeelingAwake
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December 11, 2017, 03:55:18 PM
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I know the big reason to mine now is the payment of coins.. But what about transaction fees?

If I am part of a mining group, I will get a fraction of a coin based on how much hashing power I contribute.. but how are transaction fees paid out? Is this something that can be expected to go up as time progresses and more people are using Bitcoin for transactions(like now!)...


I understand pretty clearly the mining aspect of being a miner.. But what about the end goal of just being a transaction processor? What kind of money and how do you make it??

Thank you in advance for any replies.

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KathNips
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December 11, 2017, 04:05:12 PM
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Im not an expert though but as I observed as time passes like btc is price is increasing transaction fee also increased and I think it's not caused by price of btc but more because of the blockchain being more congested because more and more people is using btc.
FeelingAwake
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December 11, 2017, 04:10:02 PM
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Im not an expert though but as I observed as time passes like btc is price is increasing transaction fee also increased and I think it's not caused by price of btc but more because of the blockchain being more congested because more and more people is using btc.

But how are transaction fees paid out? Is it in a fraction of a bit coin like the mining reward? Does the manager of the Mining group get to keep any and all transaction fee?

Thanks for any ideas.

btctousd81
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December 11, 2017, 04:19:49 PM
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block creator/miner gets block reward and all tx fees.

so its up to the pool/pool admin , you are mining with which decides how much % every miner gets.

i have never mined in pool, so cant say much about it.

bob123
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December 11, 2017, 05:56:47 PM
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The miner who includes transactions into his block gets all the fees of those transactions.
If you are mining in a mining pool it completely depends on how the policy of the mining pool is regarding payout from TX fees.
AntPool for example does keep the TX and only paying out the block reward (currently 12.5 btc), contrary to BTC.com paying out everything.
You can find a detailed list of mining pools and their policies here: https://en.bitcoin.it/wiki/Comparison_of_mining_pools

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