And historically, the minimum miner acceptable fee has been <= 1 cent per tx. A single miner (or any group short of a supermajority) that starts raising their minimal fee will just see their margins erode.
And historically, the minimum miner acceptable fee has been <= 1 cent per tx. A single miner (or any group short of a supermajority) that starts raising their minimal fee will just see their margins erode as other miners take over their fees.
Re:Why the Bitcoin Security Model Is Broken
by thisconnect on Tuesday July 30, 2024 @03:42AM
(#41106921)
1 sat/vByte
Actually, the minimum used to be 0 sat/byte.
"I don't anticipate that fees will be needed anytime soon, but if it becomes too burdensome to run a node, it is possible to run a node that only processes transactions that include a transaction fee." - Satoshi Nakamoto
https://www.bitcoin.com/satoshi-archive/emails/mike-hearn/1/...
But that minimal fee is chosen by the miner.