Prioritized transactions, and tx fees

2 messages Satoshi Nakamoto September 30, 2010 — September 30, 2010
Satoshi Nakamoto September 30, 2010 Source · Permalink

It ramps up the fee requirement as the block fills up:

<50KB  free
50KB   0.01
250KB  0.02
333KB  0.03
375KB  0.04
etc.

It’s a typical pricing mechanism.  After the first 50KB sells out, the price is raised to 0.01.  After 250KB is sold, it goes up to 0.02.  At some price, you can pretty much always get in if you’re willing to outbid the other customers.

Just including the minimum 0.01 goes a long way.

Satoshi Nakamoto September 30, 2010 Source · Permalink

True, the switch should be something more dynamic that pays per KB.  It’s harder to think of how to explain it.