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I need to make a lot of transfers per day (bitcoins), but the fee is higher than expected. I'm thinking in create a Blockchain copy running on our servers and make the transfers from my wallet and to my wallet by my own blockchain.

I'll charge my self a fee but small and fix.

That can be possible? or a missing something?

Thanks!

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  • What is your use case? Why do you need to make a large number of transfers per day? How many transactions is 'a lot of transfers per day'?
    – Matthew Stannard
    Commented Dec 31, 2017 at 13:14
  • We handle investors, they transfer the bitcoins to our accounts and we trade with those bitcoins. The problem is they can request the bitcoins at any time, and we want to do it automatic and offcourse if we can provide the lowest fee will be great, so if we have our own node in the Botcoin network can we do the transfer without fee? We have something arround 5k customers.
    – Franco
    Commented Jan 2, 2018 at 20:31

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Anyone can create their own blockchain, but you will not be able to reconcile your chain with the bitcoin blockchain at a later date (even if you start your chain by forking off from a certain btc blockchain block height).

I don't know what your use case is, but if you're not going to use an already existing blockchain, I would expect that creating a private database (SQL?) would be a better choice than trying to create a private blockchain.

You could, for example, create a database that is designed to mimic the balances of bitcoin addresses you control. Users of your database could freely transfer these 'bitcoins' to eachother on your server, and then only when the user wants to move value to someone outside of your internal system, would you need to initiate an actual bitcoin network transaction.

So the actual bitcoin you control would function as a 'reserve' that your database's value is backed by. This is basically how centralized exchange services work. The users of your system will need to trust you in using it.

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I think OP is asking if they can just make their entry into the blockchain LOCALLY on their servers and then that is propagated out to the network. Saving the fees in the process.

If so, the answer is no.

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  • Is any way to get the fees for ourselves? Act like exchange? Thanks!
    – Franco
    Commented Jan 2, 2018 at 21:49

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