Re:Accidentally pay an 80BTC transaction fee? Please contact...
by CydeWeys on Friday July 07, 2017 @02:24PM
(#14720765)
This is why it's a good idea to consolidate dust during off-peak hours when the fees are lower, so that if you do need to spend a lot urgently, the total fee you pay is much less.
It's kind of like the electricity company giving you lower rates for doing your laundry at night.
Re:Accidentally pay an 80BTC transaction fee? Please contact...
by johnchristopher on Friday July 07, 2017 @02:30PM
(#14720818)
Aren't they doing this because not enough electricity being used at night is bad for them anyway ?
Re:Accidentally pay an 80BTC transaction fee? Please contact...
by dmoy on Friday July 07, 2017 @03:04PM
(#14721133)
Depends on the generators in the system. Certain types of generators don't like / can't really / doesn't make sense to spin down much (e.g. nuclear, hydro). A nuclear reaction is going to generate as much heat as it does, you don't dial down a knob. A dam has (usually) a given amount of water flowing through based on external circumstances, not electric demand. Compare that with a coal generator, where you can just stop shoveling in more coal to reduce heat output.
Sorta like that.
I wouldn't really classify it as "bad for them", more like it's gonna be wasted anyways.
Note: been a decade since I studied power systems, so... inaccuracies abound.
Re:Accidentally pay an 80BTC transaction fee? Please contact...
by CydeWeys on Friday July 07, 2017 @06:26PM
(#14722686)
That's been around for decades. Electricity at peak hours is more expensive than at any other time, so anything to move demand from peak hours to off-peak hours is good. Laundry is especially bad because electric dryers are very energy intensive and people tend to run them in early evening hours after getting home from work, when electrical demand is at its peak.
So if you make a huge transaction and you want it confirmed quickly it can get quite expensive.