February 18, 2013 at 18:14About commission in Bitcoin
Bitcoin is a distributed digital cryptocurrency, with its help you can make payments that cannot be tracked * or canceled.
This is achieved by decentralization, there are no banks in the network, at the same time, when making a payment, you can include a commission in the payment.
Inside: Why do I need a commission in the Bitcoin network, can I not pay it.
In the traditional cash flow, we pay a commission to banks, payment services, exchangers for our transaction to be completed.
If you look more simply, the commission for any service in a regular payment system consists of Profits for the service and Funds for maintaining the resource.
But why is there a commission on the Bitcoin network? there are no central nodes?
The Bitcoin network does not imply the presence of any central control nodes, and when making a transaction, you send it to the
There it is added to the bundle of generated money and is forever stored in the system.
But as you understand such transactions, the sea, and your money transfer can sink in it, no, of course, after a certain time it will be confirmed by the system, but what if the money needs to be transferred as soon as possible?
- Pay a commission.
It will not go to the bank, but to those people who added your transaction to the found block of coins.
Commission calculation
Please note that miners (coin miners) can set a certain commission for their services, and if there are a lot of such miners, then for an early transfer it is better not to regret the commission for the transaction.
But the Bitcoin system can self-regulate, it is impossible to agree with everyone and raise the commission by 146%, anyway there will be some person who has a minimum commission for processing of 0.00001 BTC.
The commission depends on the size of the transaction, for every 1000 bytes you have to pay 1 share of the commission, it equals 0,0005 BTC.
In addition, if the transfer amount is less than 0.01 BTC, then it is again subject to a commission.
But pay attention! Nobody forces you to pay a commission, if you do not pay it, the transfer will be carried out, but after a while.
When the payment is not subject to commission
- Transfer more than 0.01 BTC
- Transfer does not take up much space in the block
- Bitcoins with which the transaction will be completed have many confirmations