Processing my own transactions

Question

I was reading this information regarding the MEMPOOL: https://coinsutra.com/bitcoin-mempool/

Suppose I have a transaction that contains a certain number of entries (ex: 300). In addition, suppose I have 7 other transactions - each having 50 entries.

Suppose I offer $1 to the miner for each transaction to be processed.

When broadcasting a transaction, it goes to the MEMPOOL first (so that a miner can pick it up for processing)?

It is my understanding that the transaction would not be processed immediately because the fee is too low.

If that is the case, then can one have a bitcoind server of their own, pull out the transaction, process it (or the entries in it) and then create a block to be added to the blockchain?

Answer 1

It is my understanding that the transaction would not be processed immediately because the fee is too low.

That is roughly correct. Miners select transactions based on the fee per byte, and lower fees will take longer to be included in a block

If that is the case, then can one have a bitcoind server of their own, pull out the transaction, process it (or the entries in it) and then create a block to be added to the blockchain?

Technically, you could mine your own transaction. Practically, this is no longer feasible. The mining process is too difficult for non-specialized hardware since the creation of ASIC miners, and even with ASICs, you would need thousands to mine at a speed where you could feasibly find a block all by yourself.

This approach is indeed taken by some mining pools for paying out their miners. They will not broadcast their payout tx, and include it when they mine their own block, either for a 0 fee, or an arbitrary fee (since they mine the block, they just get the fee back). However, it is not possible to do this as an individual user.