4 ms·
> Without congestion, users will just pay the minimal fee, which doesn't amount to much even with enormous tx volumes. But that minimal fee is chosen by the mi
by hggh 2y ago
> Without congestion, users will just pay the minimal fee, which doesn't amount to much even with enormous tx volumes.
But that minimal fee is chosen by the miner.
- deleted 2y ago[deleted]
- tromp 2y agoAnd historically, the minimum miner acceptable fee has been <= 1 cent per tx. A single miner (or any group short of a supermajority) that starts raising their minimal fee will just see their margins erode as other miners take over their fees.
- thisconnect 2y ago1 sat/vByte
- hggh 2y agoActually, the minimum used to be 0 sat/byte. "I don't anticipate that fees will be needed anytime soon, but if it becomes too burdensome to run a node, it is possible to run a node that only processes transactions that include a transaction fee." - Satoshi Nakamoto https://www.bitcoin.com/satoshi-archive/emails/mike-hearn/1/#selection-25.745-25.943 https://www.bitcoin.com/satoshi-archive/emails/mike-hearn/1/...