Satoshi per byte - Bitcoin Wiki

User Login

Remember me
Calendar It is currently 25.12.2018

Bitcoin

Typical Bitcoin transaction fee rises to 108 SAT/byte during current bull run

Small business lookbook
963 posts В• Page 26 of 781

Bitcoin sat/byte

Postby Kemuro В» 25.12.2018

.

This subreddit was created to uphold and honor free speech and the spirit of Bitcoin; learn more about us. Bitcoin is the currency of the Internet. A distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever.

There is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With Bitcoin, you can be your own bank. Read the original Bitcoin Whitepaper by Satoshi Nakamoto. See a list of past AMAs here.

If you are interested in having your own AMA, please message the mods and let us know. Get Started with Bitcoin. What is the minimum fee? Is this correct? The minimum fee is 0 satoshi. A 1 satoshi per tx fee is also possible. You can send a transaction that pays 0. So for regular folks with SPV electron cash it is not being possible, unless some businesses like bitcoin.

That's what being the market price entails. Nodes will refuse to relay any transaction that pays less than the minrelaytxfee amount. A few months ago I tested it with about half that, the transaction eventually confirmed after a day or so.

There is no minimum miner fee on the consensus layer. Even transactions paying zero fee are still valid. There is is no theoretical lower limit to miner fees. That is what we want, no special programming for it except different fee requirements mean a slight danger of double spend.

A transaction paying zero fee is still valid and if you can get it to a miner they could mine it and have it be accepted by the network. So this fee threshold is not a consensus layer thing, it just a mempool policy.

Are there any talks about lowering the bitcoin cash dust amount to enable smaller micro transactions? It's on the dev roadmap to allow fractional satoshis. The smallest possible fee you can offer the miners is 1 satisho in thr difference between output and input.

The smallest they accept is 1 sat per byte or about sat for a standard byte tx. Where did you get the number? A one input and one output tx was bytes, at least before the fork.

A transaction is only ever one input and output when the input matches exactly what you want to pay. You can't send only a fraction of an input, which means that usually a tx also contains another output, which is the remaining input that goes back to the same address or a change address.

This is why the default bitcoin tx has input and two outputs and the average size is about bytes. From Satoshi his writings, who always took bytes as the average size. I am sure somebody could analyse the current UTXO set and tell us what the actual average is and see how wright or wrong Satoshi was. OK, Satoshi's calculation might be a bit outdated and looking at what a normal tx cost now might be more useful. When Bitcoin will get used more and more for buying stuff with the average byte size of a tx is going to go towards bytes again.

In your first comment you give the impression that byte is the standard size for a tx. That is the problem I have. A standard transaction is one with one input and two outputs. And that costs satoshis. The average transaction might be bigger, but not a standard transaction. Use of this site constitutes acceptance of our User Agreement and Privacy Policy. All rights reserved. Want to join? Log in or sign up in seconds. Submit a Link. Create a Discussion.

Get an ad-free experience with special benefits, and directly support Reddit. No begging for Bitcoin. No Referral links or URL shortening services are allowed. No Doxing. Doxing or posts that resemble doxing will result in the post being removed and the user banned permanently. It's recommended that heavy altcoin discussion and other offtopic threads be posted in its respective subreddit. No marketplace-style transactions for certain goods or services are allowed. For all other rules set globally by reddit, please read the content policy.

Welcome to Reddit, the front page of the internet. Become a Redditor and join one of thousands of communities. Want to add to the discussion? Post a comment! Create an account. For a normal tx that's around bytes That's my experience - interested to hear other experiences though. Still don't get where you get bytes from.

Dissecting a P2PKH Bitcoin Transaction down to the last Byte, time: 7:10
Melabar
User
 
Posts: 364
Joined: 25.12.2018

Re: bitcoin sat/byte

Postby Kazil В» 25.12.2018

Get Started with Bitcoin. The transaction size also has a role to play in the fee determination. Get an ad-free experience with special benefits, and directly support Reddit. Sometimes you don't need such high confidence here.

Vojar
User
 
Posts: 578
Joined: 25.12.2018

Re: bitcoin sat/byte

Postby Tygojind В» 25.12.2018

Here we bktcoin that, Transaction fee in BTC does not matter to the miner. Sat/byte site uses cookies to ensure the best browsing experience possible. Doxing bitcoin posts that resemble doxing will result in the post being removed and the user banned permanently.

Grotaur
Moderator
 
Posts: 426
Joined: 25.12.2018


614 posts В• Page 721 of 460

Return to Bitcoin



 
Powered by phpBB В© 2000-2020 phpBB Group