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In theory, we could either have one of us run a mining node for long enough to confirm the transaction or we could find a third-party miner to do it for us on w
by vec 9y ago
In theory, we could either have one of us run a mining node for long enough to confirm the transaction or we could find a third-party miner to do it for us on whatever terms we could negotiate directly with them.
In practice, running a mining node without specialized equipment is prohibitively expensive so we're stuck finding a third party. Most of those third parties are looking to do a volume business and aren't interested in one-off small dollar transactions, so it's centralized exchanges or nothing.
- hndamien 9y agoNo, that isn't how it works at all. You would broadcast a transaction to your friend for $20. It would sit in the mempool and eventually get picked up by miner and would then be forever logged in the blockchain.