Transaction fee of bitcoin miner
It's about 37 yuan
let me first introce the reward mechanism of bitcoin system
bitcoin can basically dig out a block every 10 minutes through system settings. The reward for each block is given to the miners who dig out the block. The miner who digs out the block is called the block miner. The block miner will record the legal transactions in the bitcoin network to the blockchain, so that the miner can receive the service charge for bookkeeping
there are two parts in the reward for the block Miner: one part is the reward given by the system, which is called coinbase reward (also known as system issuance reward), the other part is the reward for bookkeeping, which is called miner's fee. The coinbase reward started with 50 bitcoins. For every integral multiple of 210000 blocks, the coinbase reward will be halved. This is what we often hear about bitcoin mining reward halved in four years
at the present stage, the reward of coinbase is 12.5 bitcoins. At the present stage, the average transaction miner fee received by miners for digging out a block is about 0.1 bitcoin (not fixed), that is to say, the average reward received by miners for digging out a block is about 12.6 bitcoin
about 99% of miners' rewards come from the system's coinbase rewards. According to the bitcoin system, one block can be g out every 10 minutes on average. The number of new blocks that can be g out in one day is 144 (60 * 24 / 10 = 144). At present, the number of bitcoins that can be g out every day is 1800btc (144 * 12.5btc = 1800btc). With the miner's fee of about 0.1btc per block, the total reward for all miners in one day is about 1814.4btc
when users initiate a transfer in bitcoin network, they usually need to pay a certain transfer fee to the bookkeeper. The transfer service charge is generally 0.001-0.0015 bitcoins. Due to the limited capacity of the block to hold transaction records, miners will give priority to the transaction with high service charge, so the overpaid service charge can be recorded faster
the existence of bitcoin transaction fees can improve the transfer threshold, effectively prevent the blockchain from being full of junk information, and ensure that the miners still have the motivation to maintain the bitcoin network after bitcoin is g up.
As of July 24, 2020, the state has not issued any laws to prove that bitcoin mining machine is illegal
bitcoin mining machine is one of the ways to obtain bitcoin. Bitcoin is a kind of network virtual currency proced by open source P2P software
it doesn't rely on the issuance of specific monetary institutions, and it is generated through a large number of calculations of specific algorithms. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction
extended data
the issue and transaction of bitcoin are realized by mining, and it is cast at a certain but slowing rate. Each new block is accompanied by a certain number of new bitcoin from scratch, which is used as a coinbase transaction to reward the miners who find the block
the reward for each block is not fixed. For every 210000 blocks mined, it takes about four years, and the currency issuance rate is reced by 50%. In the first four years of bitcoin's operation, each block created 50 new bitcoins. Each block creates 12.5 new bitcoins. In addition to the block award, the miner will receive a handling fee for all transactions within the block<
source: Internet - bitcoin mining machine
generally, an ordinary bitcoin transaction is composed of one input and two outputs, with the size of about 200 bytes. The default charge is 0.0001btc for every 1000 bytes, and the ordinary bitcoin transfer fee is about 0.001-0.002btc
however, e to the limited capacity of the block to hold transaction records, miners generally give priority to the transaction with higher handling charges. Therefore, when the transaction needs urgent confirmation, it is recommended to select custom charges. I also saw these in Yingfu College of Finance and economics.
1. Prepare the bitcoin you want to send. The client is responsible for collecting the balance of bitcoin in your wallet (bitcoin QT) to prepare for payment, because every bitcoin you receive is stored in your wallet until you spend it. If you receive two payments from 3btc and 2btc, their records in the wallet are independent of each other, that is, a 3btc and a 2btc, rather than merging them into 5btc (the wallet only records transaction details and does not merge the balance, but you can see the total balance on the interface of the wallet). As time goes on, many bitcoins of different amounts will accumulate in your wallet, So when you send bitcoin, the wallet has to decide which bitcoin is the most suitable for this sending. The bitcoin you get in a transaction is called "inputs" and the bitcoin you spend is called "outputs". There are multiple inputs and outputs in your wallet
2. If your outputs are less than 0.01btc (including the fund changes inside your wallet), you have to pay a handling charge of 0.0001, even if you transfer it to yourself. The wallet has an established rule when preparing your payment amount, that is, when preparing the payment amount in many inputs, try to avoid the amount change less than 0.01btc (for example, if you want to pay 5.005btc, the wallet should choose 3 + 2.005 or 1 + 1 + 3.005 instead of 5 + 0.005)
3. The larger the amount, the higher the age, and the higher the priority. If the amount you send is too small or your bitcoin has just been mined, then your transfer is no longer free. Each transaction will be assigned a priority, which is determined by the degree of currency, the number of bytes and the number of transactions. Specifically, for each input, the client will first multiply the number of bitcoins by the time they exist in the block (currency age, age), and then divide all the procts by the size of the transaction (in bytes). The calculation formula is: priority = sum (input)_ value_ in_ base_ units * input_ age)/size_ in_ If the calculation result is less than 0.576, then the transaction must pay the handling fee. If you do have a large amount of small input and want to transfer it out for free, you can add a large amount of bitcoin with a large age, which will increase the average priority, so that you can transfer out bitcoin for free
4. Charge per kilobyte. At the end of the transfer, the client will detect the size of the transfer (in bytes). The size generally depends on the amount of input and output. The calculation formula is as follows: 148 * input amount + 34 * output amount + 10. If the size of the transfer exceeds 10000 bytes, but the priority meets the free standard, you can still enjoy the free transfer, Otherwise, there will be a handling charge. The cost of 1000 bytes is 0.0001btc by default, but you can also add it in the client. Open the tab "settings & gt; Options & gt; The main purpose is to adjust the handling charge. If the service charge you are setting is less than 0.0001, BTC is calculated as 0.0001.
The service charge of okex bitcoin exchange is the lowest in the world, ranging from 0.15% to 0.02%, and there is no charge for platform currency okb
in bybit, for each successful order, bybit platform will automatically decide to charge or provide rewards according to the order attributes. For "market makers" in the market, the system will give 0.025% reward based on the contract value for each successful price limit order
for the "price receiver" in the market, the system will charge 0.075% of the contract value based on the contract value for each successful market order. A $5 bitcoin transaction may have the same handling charge as a $5000 bitcoin transaction
they are measured by satoshis
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a $5 bitcoin transaction may have the same handling charge as a $5000 bitcoin transaction. Fees are not measured in dollars, not even in the number of bitcoins
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they are measured by "satoshis". Satoshis is the smallest unit of bitcoin: 100000000 satoshis = 1btc
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instead of paying for every bit of bitcoin you send, you are actually paying for the space your transaction occupies in the block. The average transaction size is 226 bytes, so the time to confirm the transaction depends on the cost of the transaction