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Author Topic: 18.6 btc transaction fee?  (Read 2850 times)
Schleicher
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January 20, 2012, 09:32:50 PM
 #1

Did you see that?
http://blockexplorer.com/b/163059
Wtf?
What happened there?

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piotr_n
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January 20, 2012, 10:30:09 PM
 #2

either someone was generous or he mined this block himself Smiley

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January 20, 2012, 11:28:56 PM
 #3

Looks like it was mined by deepbit:
http://blockchain.info/block-index/850426/0000000000000220d0f2074e3ddc424732ff2fac8c30f1ce09974893dc55cdef

And it's in deepbit's stats: (the one with timestamp 20.01 17:18:32)
https://deepbit.net/stats

Looks like a generous person.

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January 20, 2012, 11:33:45 PM
 #4

What happened there?
Probably memory overwrite:

1863138384 == 0x6F0D3C50 == "o\r<P"

or somebody writing in Python used a pointer to value instead of the value itself when calling a C/C++ library.

Please comment, critique, criticize or ridicule BIP 2112: https://bitcointalk.org/index.php?topic=54382.0
Long-term mining prognosis: https://bitcointalk.org/index.php?topic=91101.0
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January 20, 2012, 11:37:51 PM
 #5

Maybe someone thought it would get their transaction processed really, really, really quickly? Smiley

Hmm... JIT mining, where additional hashing power comes online when large fees are detected... workable?...

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The idea that deflation causes hoarding (to any problematic degree) is a lie used to justify theft of value from your savings.
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January 20, 2012, 11:51:21 PM
 #6

Maybe someone thought it would get their transaction processed really, really, really quickly? Smiley

Hmm... JIT mining, where additional hashing power comes online when large fees are detected... workable?...


If Bitcoin lasts a few decades, maybe less even, this will happen. The per block subsidy will be insignificant compared to the accumulating fees. Miners will be programed to wait until there are X fees worth of tx waiting and then turn on. This will change the time distribution of blocks, it will become more even.

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January 21, 2012, 12:48:13 AM
 #7

Miners will be programed to wait until there are X fees worth of tx waiting and then turn on.

And I'll just mine constantly and process those transactions before anyone "turns on".  Grin

Probably some won't bother turning off if their marginal costs are near zero. They'll find more blocks, but they'll be smaller value. The time distribution will even out somewhat if any miners are reward sensitive. Probably there will be some other problem that anyone can switch their miners to work on so the value of the next block will need to overcome that before it gets a lot of mining attention.

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sethsethseth
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January 21, 2012, 02:51:11 PM
 #8

Here is the thread showing the largest fees so far: https://bitcointalk.org/index.php?topic=7554.0

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January 25, 2012, 08:09:23 PM
 #9

So, I don't know much about deepbit, did the miners split this fee?

No, deepbit keeps all transaction fees, plus 10% of your regular earnings.  (See https://en.bitcoin.it/wiki/Comparison_of_mining_pools)

It's the most popular, but also the least competitive pool.  How does that happen?

P2Pool (https://en.bitcoin.it/wiki/P2Pool) for the win -- optional 0.5% donation, decentralised, DoS resistant.

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January 25, 2012, 10:12:29 PM
 #10

So, I don't know much about deepbit, did the miners split this fee?

No, deepbit keeps all transaction fees, plus 10% of your regular earnings.  (See https://en.bitcoin.it/wiki/Comparison_of_mining_pools)

It's the most popular, but also the least competitive pool.  How does that happen?

P2Pool (https://en.bitcoin.it/wiki/P2Pool) for the win -- optional 0.5% donation, decentralised, DoS resistant.


*checks out Comparison_of_mining_pools link*

Seems like pools keeping all the transaction fees is pretty common. But still... between that and the 10%, I don't quite get it either. Is the reduced variance for being in a large pool really that much worth it? I have to think there's something besides sheer inertia or not knowing it exists that keeps folks from switching to p2pool.

Bitcoin is the ultimate freedom test. It tells you who is giving lip service and who genuinely believes in it.
...
...
In the future, books that summarize the history of money will have a line that says, “and then came bitcoin.” It is the economic singularity. And we are living in it now. - Ryan Dickherber
...
...
ATTENTION BFL MINING NEWBS: Just got your Jalapenos in? Wondering how to get the most value for the least hassle? Give BitMinter a try! It's a smaller pool with a fair & low-fee payment method, lots of statistical feedback, and it's easier than EasyMiner! (Yes, we want your hashing power, but seriously, it IS the easiest pool to use! Sign up in seconds to try it!)
...
...
The idea that deflation causes hoarding (to any problematic degree) is a lie used to justify theft of value from your savings.
rjk
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January 26, 2012, 04:42:10 AM
 #11


Seems like pools keeping all the transaction fees is pretty common. But still... between that and the 10%, I don't quite get it either. Is the reduced variance for being in a large pool really that much worth it? I have to think there's something besides sheer inertia or not knowing it exists that keeps folks from switching to p2pool.


Herding mentality. Reluctance to change. Ignorance. Comfort. Carelessness.
Not to mention the want for Instant Gratification.

Mining Rig Extraordinaire - the Trenton BPX6806 18-slot PCIe backplane [PICS] Dead project is dead, all hail the coming of the mighty ASIC!
rjk
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1ngldh


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January 26, 2012, 05:05:18 AM
 #12


Seems like pools keeping all the transaction fees is pretty common. But still... between that and the 10%, I don't quite get it either. Is the reduced variance for being in a large pool really that much worth it? I have to think there's something besides sheer inertia or not knowing it exists that keeps folks from switching to p2pool.


Herding mentality. Reluctance to change. Ignorance. Comfort. Carelessness.
Not to mention the want for Instant Gratification.

I always thought a fatter wallet would overcome that particular want! I guess not.
The human is an enigma.

Mining Rig Extraordinaire - the Trenton BPX6806 18-slot PCIe backplane [PICS] Dead project is dead, all hail the coming of the mighty ASIC!
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