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Author Topic: Fees vs. new blocks  (Read 941 times)
Creepster
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May 23, 2011, 06:00:37 PM
 #1

I've read that at some point transaction fees will overtake mining for new blocks in profitability at some point in the future, and i have a few questions Smiley

How will you notice you've gotten a fee (transactions are happening, fees are already being paid)

How will pools handle them? (i see no mention of them, only confirmed blocks)

I've searched a little, but nothing comes up, it's all about new blocks :-/
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The network tries to produce one block per 10 minutes. It does this by automatically adjusting how difficult it is to produce blocks.
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bitlackey
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May 23, 2011, 06:18:16 PM
 #2

The fees are awarded with the new blocks, at least from what I've seen.
Get a block, get a small fee bonus.  .01-.05 btc
The pools will either keep them or distribute/share them.
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May 24, 2011, 12:51:59 AM
 #3

you can check with blockexplorer or http://bitcoincharts.com/bitcoin/ and see the amount of the fees.  Right now they are usually well under 1 btc per block, most of the time .1 btc or so.

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