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I don't get the recommended transaction fee thing. What happens if someone pays 1 cent? Will no one process it?
by tocomment 14y ago
I don't get the recommended transaction fee thing. What happens if someone pays 1 cent? Will no one process it?
- waterlesscloud 14y agoYou can even send transactions with no fee at all, but they tend to be prioritized rather low. So far, every transaction get processed. Eventually. I've seen some no-fee transactions take several hours recently. But there's also currently some issues with the overall load of transactions, due to a gambling site spamming tiny "dust" transactions as part of its system. That's caused there to be a lot more transactions, which means sometimes you'll have to wait a number of blocks for a no-fee transaction to process. A block is supposed to happen an average of every 10 minutes, but it's not deterministic and there's a variance. It can take an hour or more for the next block to come up, in rare cases.
- wmf 14y agoPeople accepting micropayments tend not to wait for any confirmations, so the lag may or may not matter. But if the network gets to a point where zero-fee transactions never get confirmed then there may be a problem.
- jacoblyles 14y agoNot much. I saw a graph recently of fee paid to confirmation time. There was no correlation. Eventually it will matter when mining dries up. There will need to be "transaction exchanges". Personally, I am designing a coin that never mines out, because I believe it to be a superior design.
- BrokenPipe 14y agoan inflating currency ? Why would I ever get into it if my government wasn't to force me like they did in the states before it was backed by gold ?
- VMG 14y agoMore detail: https://bitcointalk.org/index.php?topic=104939.msg1148889#msg1148889 https://bitcointalk.org/index.php?topic=104939.msg1148889#ms...