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Author Topic: Trx Fee  (Read 780 times)
Betwrong
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June 09, 2020, 02:53:02 PM
Last edit: June 09, 2020, 03:05:25 PM by Betwrong
 #21

I tried that when I wanted to send 100 sat to Waren Buffet wallet.

Warren Buffet doesn't have a bitcoin wallet .... that is publicly known. whatever you think you have is a random address and when you send small amounts you are just spamming the bitcoin network and putting an unnecessary burden on all bitcoin nodes that have to store that pointless UTXO in their database and load it each time!
1) I paid fee of 0.00000422 BTC for the 1000 sat TX so its my right beeing on the chain.

2) It was published as it was given to him after this dinner date so its false information that it does not exists:
https://medium.com/@TronFoundation/what-i-learned-from-warren-buffetts-dinner-by-justin-sun-2fc9f4c3f7a0


You should maybe read the article from the link below too, because it is a more recent one:

https://news.bitcoin.com/warren-buffett-denies-owning-crypto/

But if you sent those 1k sats, it will be on the chain(read: in history) forever, that's true.

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pooya87
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June 10, 2020, 03:31:25 AM
 #22

I tried that when I wanted to send 100 sat to Waren Buffet wallet.

Warren Buffet doesn't have a bitcoin wallet .... that is publicly known. whatever you think you have is a random address and when you send small amounts you are just spamming the bitcoin network and putting an unnecessary burden on all bitcoin nodes that have to store that pointless UTXO in their database and load it each time!
1) I paid fee of 0.00000422 BTC for the 1000 sat TX so its my right beeing on the chain.

2) It was published as it was given to him after this dinner date so its false information that it does not exists:
https://medium.com/@TronFoundation/what-i-learned-from-warren-buffetts-dinner-by-justin-sun-2fc9f4c3f7a0

1) such transactions should confirm if the fee/byte isn't lower than 1. i can't tell without knowing the transaction size though.
2) you shouldn't really believe whatever crap you read on the internet. the link you posted is a clear and desperate attempt at advertising a shitcoin called Tron.

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HCP
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June 10, 2020, 09:30:53 AM
 #23

1) I paid fee of 0.00000422 BTC for the 1000 sat TX so its my right beeing on the chain.
I guessing that it was this one back in February then: https://btc.com/a0b288b9c28e324f80ab037f3a4ad2e05f27769c71c47afe3082b6d00cf65b9c

0.00001000 BTC sent to 3AsXDKX1etLgegepVeJbhj7WeZiypVMgdt and paid 0.00000422 BTC in fees

Whether or not that address is in any way, shape or form controlled by Mr. Buffet is not really a debate I care to partake in... but your transaction will forever be in the blockchain, that much is certain.

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malevolent
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June 10, 2020, 11:08:18 AM
 #24

While this is true, i doubt that a lot of people did change their settings to relay transactions with a fee lower than 1 sat/B.
The majority of the network won't accept them, and it will probably never reach a miner (and even if it does, i doubt they would accept them given the fact that there are almost always transactions with at least 1 sat/B waiting to get confirmed).

Except for busier days, it doesn't take long for 1 sat/vB to be included in a block (occasionally even as soon as in the next block), so if miners were willing to accept them, transactions cheaper than that would also be getting included in blocks. But that won't be happening until Bitcoin Core is released with lower default minimum relay fees.

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June 10, 2020, 12:48:10 PM
 #25

transactions cheaper than that would also be getting included in blocks.
Absolutely. Have a look at this page: https://mempool.space/. Blocks for the last 4 or 5 hours have been full, but if you scroll down to around block 634,000, there are plenty of blocks which aren't even close to being full, with some blocks as low as 30-50 kB. Since there is no reason for a miner not to fill up a block to maximize their profit from fees, transactions with fees lower than 1 sat/byte would absolutely be included in these blocks if they were being relayed.

Essentially, any time the mempool completely empties, there would have been room to include more transactions in the most recent block.
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