Even simpler minimum fee calculation formula: f > bounty*fork_rate/average_blocksize



Summary:

In an email conversation dated November 13, 2013, Michael Gronager commented on the average fees for Bitcoin transactions over the last 90 days. According to his findings on blockchain.info, the average fee was approximately 0.0003BTC per transaction, which is close to the theoretical minimum of 0.00037BTC per transaction. However, Peter Todd cautioned against quoting this figure as it could be misleading for newbies trying to understand the concept of fees in Bitcoin transactions. Todd also attached his digital signature to the email.


Updated on: 2023-06-07T20:03:15.056788+00:00