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Cost per transaction of $19 is a fair amount of friction - https://blockchain.info/charts/cost-per-transaction https://blockchain.info/charts/cost-per-transacti
by lotsofmangos 12y ago
Cost per transaction of $19 is a fair amount of friction - https://blockchain.info/charts/cost-per-transaction https://blockchain.info/charts/cost-per-transaction
- wyager 12y ago>Cost per transaction of $19 is a fair amount of friction Haha, I have no idea what that chart is talking about. It might be in cents. Even then, it seems expensive. My phone client uses a ~$0.05 fee, I think. All fees are optional. Your transaction might just take longer without one.
- lotsofmangos 12y agoYeah, just thinking about that fee graph. I have no idea of the transaction size it is based on and without that it is pretty useless.
- backdraw_ 12y agoThere are about 500 transactions per block; each block contains 25BTC + fees (the fees are negligible at the moment). At the current price of $350/BTC that means that the revenue per transaction is 25*350/500 = $17, which means that the cost per transaction should be around that area. This means that the low transaction fee is actually massively subsidized by the fixed block reward.