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Author Topic: Transaction fees magically appearing, how to account for them?  (Read 6685 times)
deadlizard
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June 23, 2011, 05:00:22 AM
 #41

half-a-millibitcoin for a transaction
nice. But I still can't send anyone a satoshi for free Sad

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steelhouse
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June 23, 2011, 07:38:42 AM
 #42

I think the transaction fees should have a difficulty to keep the block growth at a goal of 1 mb/day or 5 mb/day.  The island of yap had large stone money, the fed had gold bars, even the lydian lion were too valuable to be used.  But, I think in the future the transaction fee might rise to 0.1 or 1 or even 10.  Now you say that would make bitcoin useless.

You could join a mining pool such as deepbit.  Then directly deposit those coins on an exchange with the receive address they give you.  Buy goods, all without ever installing the bitcoin client.  The large transactions will be part of the network, however the smaller transactions will be done through wallets, exchanges, and mining pools.

This could actually strengthen the network.  In a year no one will have the client installed anyway due to block growth.  However, high transaction fees will allow everyone to install the block.  At the end of the year December 31st, the blocks can be cleaned out and verified before the baby new year and the new fresh block such as block000002012, leaving a little bit of zeros to plan for the future.

So say in 2017 and BTC is worth $5000 per coin and you have 100 of them and the transaction fee is 1.  Now to protect your coins you might leave a computer on 24-7 to protect the network, before selling out to a bigger fish and using exchanges or wallets for your small time $500,000.
ShadowOfHarbringer
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June 23, 2011, 11:00:25 AM
 #43

Shadow, you mentioned that you downgraded to 0.3.20... is there still a link available somewhere to download a compiled version of 0.3.20?

I would 100% support a fork for a client that doesn't force transaction fees.

You should be able to select an older version via Github.
Of course, that's source-only.

Also, there are 0.3.20 (and older) binaries on SourceForge.
http://sourceforge.net/projects/bitcoin/files/Bitcoin/

The problem with fork is i can only compile it for Linux, somebody else has to compile Windows version.

EDIT:

Completely forgot about MacOS.
I am not doing MacOS as well.

westkybitcoins
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June 23, 2011, 02:50:55 PM
 #44

If transaction fees are going to be randomly enforced with no way to stop it, may as well just slap a tx fee on every tx.  Make the minimum tx fee 0.0005 BTC every time, with the option to pay more to potentially get a tx to go through faster.

But having the option to set tx fee to 0, then pay tx fees, that's just confusing, misleading, and frustrating.

+1

I don't want to keep putting band-aids on the transaction fee problem, so I'm against adding Yet Another Button to the client.

If you're impatient and can't stand the thought of paying half-a-millibitcoin for a transaction, then compile your own version of bitcoin. Just don't complain if you end up with a wallet full of 0/unconfirmed transactions that tie up all your funds.


Good that some people are making alternative clients.

I am starting to think seriously about maintaining a "No-Forced-TX-Fee" fork of the main client.

And if you could do it for Windows, I would throw a bitcoin or two (at current rates) your way as a "Awesome! Thanks!"


The problem with fork is i can only compile it for Linux, somebody else has to compile Windows version.

Sad

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ShadowOfHarbringer
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June 23, 2011, 03:06:44 PM
 #45

And if you could do it for Windows, I would throw a bitcoin or two (at current rates) your way as a "Awesome! Thanks!"


The problem with fork is i can only compile it for Linux, somebody else has to compile Windows version.

Sad

For now, stick to the 0.3.20 version.

http://sourceforge.net/projects/bitcoin/files/Bitcoin/

Unfortunately compiling for windows is not as easy as it is with linux.
Also, i don't have any windows installed at the moment.

I hope we find some maintainers for other operating systems.



deadlizard
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June 23, 2011, 03:21:16 PM
 #46

And if you could do it for Windows, I would throw a bitcoin or two (at current rates) your way as a "Awesome! Thanks!"


The problem with fork is i can only compile it for Linux, somebody else has to compile Windows version.

Sad

For now, stick to the 0.3.20 version.

http://sourceforge.net/projects/bitcoin/files/Bitcoin/

Unfortunately compiling for windows is not as easy as it is with linux.
Also, i don't have any windows installed at the moment.

I hope we find some maintainers for other operating systems.



I have the 0.3.20.2 install file if anyone wants to trust a random stranger on the internet  Undecided

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SgtSpike
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June 23, 2011, 03:26:34 PM
 #47

I've got a compiler set up for Windows.  I barely know how to use it, but I did successfully compile 0.3.23.

Thanks for the SF link, I'll use that for now.
ShadowOfHarbringer
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June 23, 2011, 05:01:16 PM
 #48

OK....

I shall be setting the fork on Github this weekend.

I will post details here (and in a new topic) once i create the fork.

ShadowOfHarbringer
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June 25, 2011, 03:15:55 PM
 #49

I created the fork.

Read here:
http://forum.bitcoin.org/index.php?topic=22434.msg281703#msg281703

Binary Linux packages will be soon built, also I am currently looking for Windows & MacOS maintainers.

winnetou
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August 05, 2011, 03:47:55 AM
 #50

Is there already a RPC API solution for getting the estimated fees OR a feature that blocks the sending if the account balance would become insufficent? Anything planned for the next version? I think this is very important for handling accounts and running bitcoin services!
ShadowOfHarbringer
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September 25, 2011, 01:33:15 PM
 #51

Is there already a RPC API solution for getting the estimated fees OR a feature that blocks the sending if the account balance would become insufficent? Anything planned for the next version? I think this is very important for handling accounts and running bitcoin services!

Unfortunately, there isn't anything like that. Read here:
https://bitcointalk.org/index.php?topic=45259.0

This is the exact reason why i created my fork. There isn't any way to force sending money without any fee currently.

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