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Just paid to stamp a document and thought the process was very easy - nice job! Question: Help me understand the bitcoin financial transaction - I'm not well-v
by telecuda 12y ago
Just paid to stamp a document and thought the process was very easy - nice job!
Question: Help me understand the bitcoin financial transaction - I'm not well-versed in bitcoin. In blockchain.info I see "Total Input: 0.0002 BTC" and "Fees: 0.0002 BTC". Is my assumption correct that you had to make a minimal legitimate bitcoin transaction to appear in the ledger (.0002BTC / $0.05), then pay that same amount again as a fee, costing you roughly $0.10USD?
More simply, how much bitcoin is being transacted and who is it going to/from in order for you to create the stamp?
- abacus76 12y agoThanks! Actually the transaction creates a zero unspent output (thus no transfer of sum is being carried out). Still we allow for 0.0002BTC for miner fees (which go to the miner's wallet). Miner fees plus paypal fees is the total cost for us per stamping. Of course there is also a cost for the server etc.
- telecuda 12y agoThanks. Not questioning the cost of your service - that's for you and the market to decide! Just trying to get a better understanding of how the bitcoin transaction works.