Bitcoin transaction fees and how to handle it

0

Lets say I set a very low transaction fee for a bitcoin transaction(from one of my own wallets to another). I also have mining equipment which is mining for bitcoins. Is there anyway to get that transaction request directed towards me ? In other words can I process my own transactions by giving it priority? If so how do I do this?

ROn SC

Posted 2017-10-15T18:30:10.457

Reputation: 27

Please ask one question per post; otherwise it gets very hard to keep straight what is answered and what hasn't. I'm going to take the liberty of commenting out your second question; feel free to ask a new question with it. You can get the text by viewing the edit history.

Nate Eldredge 2017-10-15T19:54:37.110

While you can prioritize your own transaction, it won't do much good, unless you're in control of a large hash pool. The probability of a single user ever completing a block specifically crafted with their own transaction is extremely small. It is better to just pay a reasonable transaction fee.abelenky 2017-10-15T23:58:25.137

If I want to send 10USD worth of bitcoins, I have to pay 6USD as fees?ROn SC 2017-10-16T13:15:49.823

Answers

3

Yes, you can. This is the exact purpose of the RPC command prioritisetransaction.

Nate Eldredge

Posted 2017-10-15T18:30:10.457

Reputation: 21 420