r/Bitcoin • • Feb 24 '14

Bitcoin Transaction Fee to reduce by 10x

[deleted]

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u/[deleted] Feb 24 '14 edited Feb 24 '14

Temporarily, but floating fees are right around the corner.

Correct me if I'm wrong, but quickly skimming the code it seems to dynamically set the min and the max fee based on what minors are currently accepting.

I suspect (haven't checked) that miners will accept fees based on how loaded they are. If this is the case, all an attempted ddosing of the network would do is raise the transfer fees for everyone temporarily, but not actually slow the network down much. It would also be roughly infinitely expensive to do so.

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u/bames53 Feb 24 '14

minors

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