Post
Topic
Board Bitcoin Discussion
Re: Bitcoin-Qt / bitcoind 0.8.2 (final) available
by
Jan
on 30/05/2013, 14:12:05 UTC
...
Fee Policy changes

The default fee for low-priority transactions is lowered from 0.0005 BTC
(for each 1,000 bytes in the transaction; an average transaction is
about 500 bytes) to 0.0001 BTC.

Payments (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.

The default fee policy can be overridden using the -mintxfee and -minrelaytxfee
command-line options, but note that we intend to replace the hard-coded fees
with code that automatically calculates and suggests appropriate fees in the
0.9 release and note that if you set a fee policy significantly different from
the rest of the network your transactions may never confirm.
...

Gavin, was it only mintxfee that changed in this release? In other words: are mintxfee and minrelaytxfee the same now?

Also, the minimum allowed output will gradually invalidate most alternative client implementations, time to start coding. I guess that the policy for change-back-to-self worth less than 5420 satoshis should be to remove the change output add it to the miner fee.

In general I think it is time to update https://en.bitcoin.it/wiki/Transaction_fee