https://bt.irlbtc.com/view/215480.msg2261095#msg2261095Payments (transaction outputs) of 0.543 times the minimum relay fee
(0.00005430 BTC) are now considered 'non-standard', because storing them
costs the network more than they are worth and spending them will usually
cost their owner more in transaction fees than they are worth.
Non-standard transactions are not relayed across the network, are not included
in blocks by most miners, and will not show up in your wallet until they are
included in a block.
I still get payments under 0.00005430 BTC.
Is this because I am still using 0.8.1 ?
No, because some miners still accept it.
Thank you.
This bitcoin's transaction fee thing is a total mystery for me. Like what happens after all 21 million bitcoins have been mined. What the miners will get then ? A flat fee of a certain amount of bitcoin or a percentage of the transaction ?
I think I have a better understanding of the transaction fee now :
http://www.coindesk.com/already-bigger-than-some-currencies-bitcoin-can-get-bigger-gavin-andresen-says/CoinDesk: Once all the bitcoins are mined, wont the miners quit running the Bitcoin ledger system?
Andresen: The miners will still do the work, because you can attach a transaction fee to every transaction, and the transaction fee goes to the miner who validates the (block of) transactions. As mining fees go down, transactions fees are going up
Transaction fees are voluntary, but if you dont include a transaction fee
you may have trouble finding a miner that will validate your transaction. (The current average is .001 of a Bitcoin.)
According to our calculations, as Bitcoin scales up, youll have such a high volume of transactions, the tiny fees will add up to a significant amount of money and it will still be worthwhile for people to do that work.
0.001 is 1/10 of 1%, way cheaper than the 2% to 3% the credit card companies and paypal charge. Next cheapest is probably dwolla where they charge a flat fee of $0.25 for any transaction over $10 USD.
My next question is what does a miner sees when I make a transaction ? Where do I include the transaction fee ? I have not made a payment to anyone yet but I clicked on 'send coins' and I don't see a place for me to enter this transaction fee.
