4 ms·

Bitcoin totally makes sense for digital products, especially for transaction with small amounts. With Bitcoin you can send even $0.01 for a very low fee.

• NhanH 12y ago
  Default fee for a transaction is 0.0001, which is ~$0.0355 at current bitcoin price.
  • baddox 12y ago
    In the current reference clients, transactions smaller than 1000 bytes and less than 0.01 BTC are sent without a transaction fee.
    • celticninja 12y ago
      i dont think the value is as important as the transaction size. I can send 10BTC for free, especially if the coins have not been moved for more than say a week. In fact smaller transactions are usually more costly (as a % of the sum being sent) than large transactions, see the recent US marshalls auctin as an example, $30M sent for $0.37.
  • roasbeef 12y ago
    The default relay fee is actually now 1,000 satoshis (0.00001), not 10,000 satoshis (0.0001).
    • pbhjpbhj 12y ago
      Who is that fee paid too?
      • aparadja 12y ago
        As a reward to the miner of the block, no?
      • dsil 12y ago
        Essentially the fee is split up by everyone who is running the nodes that make up the Bitcoin network. The more hash-power you have the larger your share of the fees.
        • celticninja 12y ago
          this is incorrect, the transaction fee is paid to the miner that first includes your transaction in a block. this is their incentive for including transactions in blocks.
      • celticninja 12y ago
        the miner that includes your transaction in a block. the first miner to do so gets the transaction fee, hence you can pay a high fee and guarantee it is included or pay a standard fee and it will probavly be included in the next 2-3 blocks or if you are not in a rush you can send it with no fee (providing it meets a few other criteria) and it will get processed usually within 24 hours. the miners are the people that produce new bitcoins and secure the network.