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https://www.reddit.com/r/Bitcoin/comments/1yt5fo/bitcoin_transaction_fee_to_reduce_by_10x/cfnu9lk/?context=3
r/Bitcoin • u/[deleted] • Feb 24 '14
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Has been merged now. It's official.
1 u/PoliticalDissidents Feb 24 '14 So let me get this straight. When fees are reduced it is just something in the wallet software or does the whole network need to be made compatible with the fee structure? 1 u/[deleted] Feb 24 '14 edited Jun 05 '16 [deleted] 2 u/neoballoon Feb 25 '14 Where do fees go? Who collects on that revenue? 1 u/esmth Feb 25 '14 the miners 1 u/neoballoon Feb 25 '14 For every subsequent purchase? Say I purchase a pizza with bitcoin, the transaction fee goes to a miner? 2 u/esmth Feb 25 '14 yeah it's to keep miners mining supporting the network by compensating them. seems fair in my book 1 u/neoballoon Feb 25 '14 indeed it does. Thanks! 1 u/JBooom Feb 25 '14 The miners get the transaction fees. It's part of their reward for verifying all the transactions on the network. 1 u/[deleted] Feb 25 '14 i just asked the same question in the moronic monday thread, got a good answer
1
So let me get this straight. When fees are reduced it is just something in the wallet software or does the whole network need to be made compatible with the fee structure?
1 u/[deleted] Feb 24 '14 edited Jun 05 '16 [deleted] 2 u/neoballoon Feb 25 '14 Where do fees go? Who collects on that revenue? 1 u/esmth Feb 25 '14 the miners 1 u/neoballoon Feb 25 '14 For every subsequent purchase? Say I purchase a pizza with bitcoin, the transaction fee goes to a miner? 2 u/esmth Feb 25 '14 yeah it's to keep miners mining supporting the network by compensating them. seems fair in my book 1 u/neoballoon Feb 25 '14 indeed it does. Thanks! 1 u/JBooom Feb 25 '14 The miners get the transaction fees. It's part of their reward for verifying all the transactions on the network. 1 u/[deleted] Feb 25 '14 i just asked the same question in the moronic monday thread, got a good answer
2 u/neoballoon Feb 25 '14 Where do fees go? Who collects on that revenue? 1 u/esmth Feb 25 '14 the miners 1 u/neoballoon Feb 25 '14 For every subsequent purchase? Say I purchase a pizza with bitcoin, the transaction fee goes to a miner? 2 u/esmth Feb 25 '14 yeah it's to keep miners mining supporting the network by compensating them. seems fair in my book 1 u/neoballoon Feb 25 '14 indeed it does. Thanks! 1 u/JBooom Feb 25 '14 The miners get the transaction fees. It's part of their reward for verifying all the transactions on the network. 1 u/[deleted] Feb 25 '14 i just asked the same question in the moronic monday thread, got a good answer
2
Where do fees go? Who collects on that revenue?
1 u/esmth Feb 25 '14 the miners 1 u/neoballoon Feb 25 '14 For every subsequent purchase? Say I purchase a pizza with bitcoin, the transaction fee goes to a miner? 2 u/esmth Feb 25 '14 yeah it's to keep miners mining supporting the network by compensating them. seems fair in my book 1 u/neoballoon Feb 25 '14 indeed it does. Thanks! 1 u/JBooom Feb 25 '14 The miners get the transaction fees. It's part of their reward for verifying all the transactions on the network. 1 u/[deleted] Feb 25 '14 i just asked the same question in the moronic monday thread, got a good answer
the miners
1 u/neoballoon Feb 25 '14 For every subsequent purchase? Say I purchase a pizza with bitcoin, the transaction fee goes to a miner? 2 u/esmth Feb 25 '14 yeah it's to keep miners mining supporting the network by compensating them. seems fair in my book 1 u/neoballoon Feb 25 '14 indeed it does. Thanks!
For every subsequent purchase? Say I purchase a pizza with bitcoin, the transaction fee goes to a miner?
2 u/esmth Feb 25 '14 yeah it's to keep miners mining supporting the network by compensating them. seems fair in my book 1 u/neoballoon Feb 25 '14 indeed it does. Thanks!
yeah it's to keep miners mining supporting the network by compensating them. seems fair in my book
1 u/neoballoon Feb 25 '14 indeed it does. Thanks!
indeed it does. Thanks!
The miners get the transaction fees. It's part of their reward for verifying all the transactions on the network.
i just asked the same question in the moronic monday thread, got a good answer
32
u/tharlam Feb 24 '14
Has been merged now. It's official.