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Author Topic: Transaction fee effects  (Read 7929 times)
Babylon
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July 19, 2010, 08:37:03 PM
 #1

Ok, I have seen some discussion of the mechanics of transaction fees, still not completely clear on those, but I wanted to straighten something out I was wondering about.  Assuming bitcoins deflate slightly, to the point where a 10,000 bitcoin transfer can be expected to generate a fee (which would be 5 bitcoins, if I understand correctly)  If I send 10K bitcoins to Bob, does that mean he receives 9995 and whoever processed the transaction receives 5?  Or does it mean that I am debited 10,005 and he receives 10k?

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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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aceat64
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July 19, 2010, 08:49:26 PM
 #2

The sender pays the fee, so you would send out 10,005 BTC and the recipient gets 10,000. There's an article on this in the wiki:

http://www.bitcoin.org/wiki/doku.php?id=transaction_fee
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