3 ms·
No offense, but your understanding of how Bitcoin works is quite incorrect. There aren't publicly accessible "mining nodes". Rather, there is a P2P flood-fill n
by petertodd 2y ago
No offense, but your understanding of how Bitcoin works is quite incorrect. There aren't publicly accessible "mining nodes". Rather, there is a P2P flood-fill network of tens of thousands of nodes, of which a tiny % belong to miners. What nodes are actually operated by miners is very difficult to figure out, and that's a good thing.
All miners confirm transactions essentially the same way: highest fee has priority because that's the most profitable way to mine (specifically, feerate: fees/byte). There's no such thing as confirming transactions "faster" or "slower": blocks are found on average every 10 minutes, and all miners have (essentially) the same set of candidate unconfirmed transactions because the P2P network reliably propagates all candidate transactions paying sufficient fees to all miners (there is a dynamically adjusted minimum feerate limit, below which transactions don't propagate, which prevents spam).
- mrkramer 2y agoI'm interested more in the game theory behind mining and corresponding economic stats....for example mempool.space tells me: Reward stats (Last 144 blocks): Avg Tx Fee, 1.01k sats/tx, $0.58 Avg Block Fees, 0.0449 BTC/block, $2,592 Miners Reward, 456.46 BTC, $26,352,619