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minerva (OP)
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February 25, 2014, 09:58:15 PM |
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Right now the typical transaction is half a kilobyte or less, correct? And cost is rounded up usually?
Best way to reduce transaction fees is to price it on a per byte basis. There, transactions just got quartered.
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Tip-Jar: 15NN2YwMGAntKopJgAsFBJvfuCARkV62xo
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effortless." -- Satoshi
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roslinpl
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Activity: 2212
Merit: 1199
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February 25, 2014, 11:06:25 PM |
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Right now the typical transaction is half a kilobyte or less, correct? And cost is rounded up usually?
Best way to reduce transaction fees is to price it on a per byte basis. There, transactions just got quartered.
You want to reduce 0001 btc fee? :-) Come on man ... its cheaper than a box of matches ... :-) Why to reduce it? Anyway you can pay no fee if you like ... qt settings? :-) |
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minerva (OP)
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February 25, 2014, 11:20:19 PM |
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It's true.
But given the recent hubub about developers reducing the default fee, they could easily reduce the fee through increased precision.
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Tip-Jar: 15NN2YwMGAntKopJgAsFBJvfuCARkV62xo
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roslinpl
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February 26, 2014, 12:01:35 AM |
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It's true.
But given the recent hubub about developers reducing the default fee, they could easily reduce the fee through increased precision.
perhaps you are right  it's hard to say without testing your option But idea seems not bad - just guess it will never be implemented into Bitcoin. (or maybe - then ask for some donations for idea:P) |
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rapsaodan84
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February 26, 2014, 12:04:00 AM |
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I think we all must get used to pay enough fees.
Otherwise, how will the network operate after all Bitcoins are mined?
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rmines
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February 26, 2014, 12:04:02 AM |
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Right now the typical transaction is half a kilobyte or less, correct? And cost is rounded up usually?
Best way to reduce transaction fees is to price it on a per byte basis. There, transactions just got quartered.
You want to reduce 0001 btc fee? :-) Come on man ... its cheaper than a box of matches ... :-) Why to reduce it? Anyway you can pay no fee if you like ... qt settings? :-) If you set the fee to 0, the payment will still reach the other party, it might only take days instead of minutes. correct? |
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minerva (OP)
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February 26, 2014, 12:06:59 AM |
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Right now the typical transaction is half a kilobyte or less, correct? And cost is rounded up usually?
Best way to reduce transaction fees is to price it on a per byte basis. There, transactions just got quartered.
You want to reduce 0001 btc fee? :-) Come on man ... its cheaper than a box of matches ... :-) Why to reduce it? Anyway you can pay no fee if you like ... qt settings? :-) If you set the fee to 0, the payment will still reach the other party, it might only take days instead of minutes. correct? if you set it to zero, you are at the mercy of a generous miner. |
Tip-Jar: 15NN2YwMGAntKopJgAsFBJvfuCARkV62xo
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roslinpl
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February 26, 2014, 12:07:25 AM |
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If you set the fee to 0, the payment will still reach the other party, it might only take days instead of minutes. correct?
Correct - but not 100% if you will put fee 0 and transaction will be bigger than for example 0.001 it will take few hours, not days... Anyway transaction will be confirmed then so you don't need to pay - it is just optional and make transaction muuuuch faster and miners more happy! |
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shaobao88
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February 26, 2014, 06:07:16 AM |
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Agree with roslinpl as it's faster and the fee is so small that making it 0 and at the same time making the transactions long lasting is worthless
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Donations please: 1EFZWvKYenToSYtCd98qYwmBnkpRT1Dddr
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roslinpl
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February 27, 2014, 12:40:14 AM |
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Agree with roslinpl as it's faster and the fee is so small that making it 0 and at the same time making the transactions long lasting is worthless
sure it is like this. 0.0001 is very cheap. and we need to remember that those money are needed to support miners. I know many people who add higher fee to their transactions. Just find any cheaper way to send money on planet earth? (and I am not talking about other cryptocurrencies) |
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clubminer
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Let's get rich together
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February 28, 2014, 05:46:51 AM |
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Right now the typical transaction is half a kilobyte or less, correct? And cost is rounded up usually?
Best way to reduce transaction fees is to price it on a per byte basis. There, transactions just got quartered.
how much fees when transfer of bitcoin? |
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minerva (OP)
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February 28, 2014, 07:59:38 AM |
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Right now the typical transaction is half a kilobyte or less, correct? And cost is rounded up usually?
Best way to reduce transaction fees is to price it on a per byte basis. There, transactions just got quartered.
how much fees when transfer of bitcoin? right now it's 10k satoshis per kb what I'm proposing is 10k/1024= 10 satoshis per byte the typical transaction is a quarter of a kilobyte, so for the typical transaction, it would be reduced by 3/4. and it would give incentive for more efficient ways of transactions to be made each byte is very significant since it's going to be stored forever. and even if people would pay for data to be stored in the block chain, they would have to pay for every byte |
Tip-Jar: 15NN2YwMGAntKopJgAsFBJvfuCARkV62xo
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flatfly
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February 28, 2014, 08:35:23 AM |
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Not sure if you are aware that fees will be 1/10th of what they are now as of version 0.9.
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minerva (OP)
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February 28, 2014, 08:58:08 AM |
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Not sure if you are aware that fees will be 1/10th of what they are now as of version 0.9.
I am aware. I just think 1/4 is better then 1/10. It may even encourage bitcoin developers to find ways to reduce the number of bytes checksums and script take up. |
Tip-Jar: 15NN2YwMGAntKopJgAsFBJvfuCARkV62xo
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rmines
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February 28, 2014, 12:37:59 PM |
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Not sure if you are aware that fees will be 1/10th of what they are now as of version 0.9.
Is there an ETA for version 0.9 or will it release 'when it's done'? |
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RoboDawg
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February 28, 2014, 06:50:11 PM |
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I accidental sent a transaction of 1btc without a fee (blockchain.info don't automatically apply a fee and i didn't know) and it took a few days  |
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roslinpl
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March 01, 2014, 03:13:16 AM |
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I accidental sent a transaction of 1btc without a fee (blockchain.info don't automatically apply a fee and i didn't know) and it took a few days for real? Few days? Seems interesting |
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rmines
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March 02, 2014, 11:13:06 PM |
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Not sure if you are aware that fees will be 1/10th of what they are now as of version 0.9.
Is there an ETA for version 0.9 or will it release 'when it's done'? so I guess it won't take long anymore. Perhaps a final version in 2 weeks? |
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roslinpl
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March 02, 2014, 11:44:32 PM |
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Not sure if you are aware that fees will be 1/10th of what they are now as of version 0.9.
Is there an ETA for version 0.9 or will it release 'when it's done'? so I guess it won't take long anymore. Perhaps a final version in 2 weeks? Yes yes I am already testing it! Works fine @ win7 64bit there are some problems for Debian 7 user (1 bug was reported) |
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