3 ms·

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.