Post
Topic
Board Bitcoin Discussion
Re: It costs $0.09 cents to send $0.24 cents of Bitcoin? Really?
by
ForgottenPassword
on 18/08/2014, 05:23:17 UTC
blocks are NOT 100% full, there is plenty of space in all blocks to accept all transactions that appear in the period between each block. no one should be waiting more than 30 minutes to have a tx accepted. and on the very smallest of occasions, a few people may have to wait 20 minutes. (very few occasions)

I didn't say they were 100% full.

Lets say we time how long it takes a 1KB block vs a 500MB block to propagate the network. Lets say it takes 1 minute longer. That means that there is a 10% increased chance of an orphaned block if it is 500MB in size vs 1KB, because until it fully propagates another miner could publish a block causing theirs to orphan (this happens a lot more often than you think). An orphaned block will cost the miner 25BTC, so the miner is risking on average 2.5BTC for a full block vs an empty one. Why would they risk that for free? They are a business, they don't do things that cost them money for free.

secondly the reward is the reward. end of. they should not be compensated for ignoring transactions. the reward should be for allowing transactions(the whole point of making blocks(infact the whole point of what a blockchain/bitcoin is)). saying that miners should get a bonus for preventing the loss of a reward.... that is the weak and pathetic excuse miners give.

Not really. A lot of the blocks Satoshi mined are empty. They still add security to blocks below it. Transactions that are already in the blockchain will gain an extra confirm.