Quote from: BombaUcigasa on August 08, 2013, 10:21:46 PM

Quote from: dominicus on August 07, 2013, 03:15:06 PM

Quote from: jhansen858 on August 07, 2013, 05:18:31 AM

No one knows. They have not decided how to decide what the fees will be. I suspect it will end up being about 1% at the end of the day.

Woa.... a 1% bounty on network transactions could turn out to be quite a bit of dough even with a modest 10% turnover of BTC circulation per week. That comes out to 40+ BTC/block.

Yes, usually Bitcoin requires less than 1% fees for your total transactions, usually in fast sequential transfers and very small sums. A casual high value participation will not incur fees at all.

Well, I sure hope there's some deliberate thought process around transaction fees.

There's this delicate balance between mining -net- profitability, transaction fees BTC/fiat, and network health in the face of volume growth.

Seems to me a sensible mining regime wrt transaction fees will become critical. Should ensure enough incentive is in the system to keep the distributed nature of Bitcoin.