Big payout on transaction fees.

[mogrith]

http://blockchain.info/block-height/263392
I have some GH/s on cex.io and saw an unusual payout on a block ~32.67BTC

As you can see from the blockchain 7.67229222 BTC from transaction fees.

So in the future as more and more BTC are being used and block rewards have been reduced will the payback from mining be more from the TX fess than the block reward? If millions (billions?) of dollars are moving everyday each block could be worth a lot.

[1714909344]

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[leancuisine]

If you look at https://blockchain.info/block-index/426012/000000000000000f96d5fafd5231fcc46cbc6357c9e80589dd43898bbf7e032e there is one transaction with a fee of 7.6 BTC, with a size of 25820 bytes. That must be why the transaction fees earned in this block was so large.

Transaction: https://blockchain.info/tx/e5fe246846c49d40f3e47bd54806c86a101d6ea6b05c9d473b0e59dedf101739

All other transactions (142) only earned 0.07 BTC in fees.

[dserrano5]

So in the future as more and more BTC are being used and block rewards have been reduced will the payback from mining be more from the TX fess than the block reward? If millions (billions?) of dollars are moving everyday each block could be worth a lot.

Yes, that's exactly how it was planned from the beginning. Isn't satoshi a genius?

[mogrith]

Ok so that looks like a whole lot of little transactions into one wallet It was for about 610BTC total. I think that is kind of unusual and will not become common even if millions of people start using bitcoins.