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Are Low-fee-transactions low priority to be included in block?

When do miners include low-fee-transactions?

Do they have their own formula to get priority?

Or just oldest transactions are first?

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They will never include low fees transactions before high fee transactions because they have an incentive to mine higher fee transactions before lower fee ones. If they mine higher fee transactions they will make more money. If you make a transaction and pay a $1 fee while the average is $50, it is likely to never be processed. The miner will only process your transaction once there's no more transactions with a fee above $1.

  • So super low-fee never get block? – bitcoinlearner Dec 25 '17 at 17:58
  • No, because the miner has no incentive to waste CPU in order to be poorly rewarded when it can be rewarded in a better way. – Cedric Martens Dec 25 '17 at 18:02
  • So you're saying they select transactions based only on fee? Nothing else? I thought there was some consideration for age, especially if fees are equal. – fredsbend Dec 25 '17 at 18:12
  • "So super low-fee never get block?" It depends on the situation. They are very high at the moment. But they were very low 3-4 months ago. Wait until the lightning-network works and the fees are low again. I made a 550$ transaction 3 months ago with a fee of 0.07$ and it went throguh within 2 days. – ndsvw Dec 25 '17 at 21:22
  • Well, a miner can also mine his own transactions. So the miner will probably prefer them, too. – ndsvw Dec 25 '17 at 21:25

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