When do miners include low-fee-transactions?

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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?

bitcoinlearner

Posted 2017-12-25T17:25:01.323

Reputation: 319

Answers

0

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.

Cedric Martens

Posted 2017-12-25T17:25:01.323

Reputation: 927

So super low-fee never get block? – bitcoinlearner – 2017-12-25T17:58:50.960

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 – 2017-12-25T18:02:11.620

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. – frеdsbend – 2017-12-25T18:12:01.723

"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 – 2017-12-25T21:22:57.597

Well, a miner can also mine his own transactions. So the miner will probably prefer them, too. – ndsvw – 2017-12-25T21:25:59.177

@CedricMartens The CPU consumption is pretty much the same regardless of what transactions are included in the block. The block size however sets a limit so given a choice between low-paying and high-paying transactions it is obvious which will give better payout. – kasperd – 2017-12-25T22:27:35.800

@Alpha On the short term it makes sense for miners to fill up blocks even if it means some of the included transactions pay very low fees. A low fee is still better than nothing. However there may be miners who want to push up fees for gains on the longer term and thus will skip low-paying transactions even if it would have fit in a block they are mining. – kasperd – 2017-12-25T22:30:05.760