Stack Exchange Network

Stack Exchange network consists of 175 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, share their knowledge, and build their careers.

Visit Stack Exchange

This tag should be used for questions related to paying transaction fees in the Bitcoin network.

Transaction fees have a dual purpose in Bitcoin. First, they protect the network against attacks by increasing the cost of creating spam transactions. Second, they give miners an incentive to include one's transaction in a block. The miners can collect the transaction fees from all of the transactions that are included in their blocks. They are thus incentivized to include transactions that pay higher fees. Transaction fees will also pay miners to continue to operate once the block subsidy reaches zero.

Transaction fees are often expressed as a fee rate. The units are typically satoshis/byte, satoshis/kilobyte, or Bitcoin/kilobyte. Transaction fees are not paid in relation to the value being transferred but rather the size in bytes of the transaction data itself. Miners often choose transactions to include by the transaction fee rate rather than the value of the transaction fee itself.

history | excerpt history