Right now the typical transaction is half a kilobyte or less, correct? And cost is rounded up usually?
Best way to reduce transaction fees is to price it on a per byte basis. There, transactions just got quartered.
Best way to reduce transaction fees is to price it on a per byte basis. There, transactions just got quartered.
how much fees when transfer of bitcoin?
what I'm proposing is
10k/1024= 10 satoshis per byte
the typical transaction is a quarter of a kilobyte, so for the typical transaction, it would be reduced by 3/4.
and it would give incentive for more efficient ways of transactions to be made
each byte is very significant since it's going to be stored forever.
and even if people would pay for data to be stored in the block chain, they would have to pay for every byte