Are transaction fees allocated to the wallet operator?

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I plan to setup an online wallet system using bitcoind that allows users to create their own bitcoin wallets. If a user on my system sends funds from his wallet to someone else's then bitcoind creates a block that needs to be inserted into the blockchain. Do I (as the wallet operator) receive the transaction fee? If not how do I allocate a transaction to myself (the operator?)

user11286

Posted 2013-12-23T21:07:45.877

Reputation: 95

Answers

1

You don't, and you can't. The transaction fee needs to go to the miner who processes the transaction, otherwise your transactions won't get processed. You can, of course, charge whatever fees you want for whatever services you offer, but these have nothing whatsoever to do with the transaction fee for Bitcoin transactions themselves.

David Schwartz

Posted 2013-12-23T21:07:45.877

Reputation: 46 931

Thanks David then how would one charge brokerage fees (in BTC) on top of the transfer? This seems more like a transaction that does payment to two bitcoin addresses, i.e. one to the B party and another to me? – user11286 – 2013-12-24T11:43:30.937

Just debit the account slightly more than the amount paid. If I want to pay 2 BTC to someone, you just debit my wallet, say, 2.01 BTC -- or whatever. – David Schwartz – 2013-12-24T19:43:23.650

OK so that implies two bitcoin addresses are needed for this transaction. One that carries 2BTC to the B party and the other that carries 0.01BTC to me? – user11286 – 2013-12-24T20:09:15.497

1It depends how your online wallet system is set up. – David Schwartz – 2013-12-26T08:08:44.490

Asked: 2013-12-23T21:07:45.877

Viewed: 75 times

Active: 2014-01-22T22:19:02.100