Quote from: omri on June 05, 2011, 12:21:52 PM

Quote from: dkaparis on June 05, 2011, 12:15:18 PM

Quote from: omri on June 05, 2011, 12:05:55 PM

E.g. if 1/6 of miners are willing to accept your fee the time to get 6 confirmations is doubled on average. That way most users will only pay a fee that enough (but not most) miners will accept.

Incorrect. With 1/6 of miners accepting your fee, there is 1/6 chance your transaction will be included in the next block, thus on average your transactions will be 6 times slower.

It's 6 times slower for first confirmation, but from then on it's the regular rate, so it's only double the time for 6 confirmation.

True, just like if only 1 per cent of miners accept your fee, this will just double the time to get 100 confirmations.
I fail to see what's so interesting about the number 6, or 100, though, apart from the analysis that for higher number of confirmations you require, you should pay a lower fee.