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17

You can select a higher fee if you want. This choice is intentionally limited to a 1x, 2x, and 3x multiplier to avoid leaking too much information via the fee (ie, if you're the only one using a 2.7x fee, your transactions will stick out). NOTE: from two weeks after the v3 fork, the fees multipliers will change from 1/2/3 to 1/20/166. The simplewallet ...


16

According to the pull request from moneromooo-monero on behalf of ArticMine: The dynamic fee is based on the block size in a past window, and the current block reward. It is expressed by kB. This function calculates an estimate for a dynamic fee which will be valid for the next grace_blocks According to dEBRUYNE_1 this change will take effect with v4 in ...


15

The fees are not exactly hard-coded, the amount per kB is hardcoded. This was enacted after the block overflow attack where the attacker had to expand the blocksize by flooding it with transactions until they were able to fit more than 512 transactions in a single block, which they were able to do for little cost because tx fees were so cheap at that time. ...


11

When a block is built a block larger than the median size of the last 100, then a quadratic penalty is imposed on the miner such that: penalty = base subsidy * ((block size / median size of last 100 blocks) - 1)² subsidy = base subsidy - penalty Miners can avoid this fee altogether by refusing to include transactions in blocks that would lead to ...


11

There is no such system in Monero. Now, miners will mine transactions that have the highest fee/byte ratio first. But once a miner accepted a transaction in its txpool, it will not accept another one that's conflicting. So the only way that can work is if the second one is sent right after the first, to another miner, and manages to be mined first (ie, the ...


10

Monero's fees are not dependent on price. They are based on the size of the transaction (minimum 0.002 Monero per kB, rounded up). There is some research going on about making the fees dynamic, based on directly observable quantities such as transaction rate, but this isn't anything firm yet. Monero price is inherently foreign from the blockchain, and as ...


10

You can send as little as 1 "piconero" (1 atomic unit). This makes no economic sense of course, as the fee will be at least 2 billion times larger (depending on number of inputs).


10

Transaction fee are currently fixed (around 0.002 XMR/kB) which is penalising for small transaction (0.026 XMR/TX). Buying an item for 0.2 XMR incurs a transaction fee of 13% which I would call confiscatory. Still cheaper than Bitcoin :) But yeah, they're high. A transaction fee that is a percentage of the transaction (say 0.1%) would go a long way to ...


9

Like hyc already said, dynamic fees currently do not exist yet and currently the minimum fee is hardcoded at 0.002 XMR per kB. There is a lot of discussion on how to address this subject and core-team member ArticMine is looking into it. However, given that there is nothing concrete yet, it is not possible currently to answer your question.


9

The block will not be rejected if it's included in a block mined by another miner who accepted it. See src/cryptonote_core/tx_pool.cpp, line 137 (or just after FEE_PER_KB). This implies a miner is free to mine transactions with a fee lower than this, and any block found with such transactions will be accepted.


9

It is known that Poloniex switched to non zero mixin for a short time for withdrawals. However, they reverted to zero not long after, and I believe this to be due to the increased fees. Unfortunately, exchanges have to deal with people sending very small amounts of every coin, as they mine directly to the exchange address, or if they don't, they send ...


9

Knowing the transaction fee in advance is not possible [1], due to two reasons: the output selection is randomized, so sending, eg, 100 monero several times will potentially need different fees, for example if one tx needs just one 150 monero input (small tx, small fee), but a second attempt happens to pick many 1 or 2 monero inputs (larger tx, larger fee). ...


9

You can choose a multiplier. Choosing a custom fee could give away certain pattern and enable clustering of transactions matching the pattern. When choosing a multiplier, you can still give priority to the TX, but your TX wouldn't stand out as 'special', since everyone is using multipliers. Choosing some other fee smaller than the minimum fee would be ...


9

This information is based on the last 100 transactions. That particular screenshot is an anomaly and unrepresentative of the norm. If you refresh right now, for example, you'll see the median Bitcoin transaction fee is $4.76 vs $0.86 for Monero. Note that there is work being done on reducing the Monero "range proof" size, which will result in smaller ...


9

Privacy: Outputs are where amounts of Monero are stored on the blockchain. When you spend one of your outputs in a transaction, it cannot be known which of 7 different source outputs you're really spending. Therefore your anonymity set grows by 40%. Another advantage is that outputs that you receive will now more likely be used as decoys in other people's ...


8

Fees are rounded to 0.01 XMR per KB. Because of the way outputs are selected, calculating the size of a transaction in advance (and choosing your own fee) would be very difficult and time consuming. The transaction fee priority issue is not really important to Monero because its dynamic blocksizes will grow to meet demand. The need to pay a higher fee than ...


8

I can't imagine a scenario where we base-price transactions at anything more than per-kb pricing. It's the most logical way to price it, given that you're literally paying for indelible space on the blockchain.


8

This is kind of a subjective question. Currently the block reward is ~ 10.4 XMR per block or 5.2 XMR per minute. When the tail emission kicks in, the block reward will be 0.6 XMR per block (assuming 2 minute blocks) or 0.3 XMR per minute. If we further assume miners are currently mining at an equilibrium then the price should be approximately 17 times as ...


8

In addition to the excellent summary by ArticMine already given, here below is shortened & updated version of my research on the topic. Dynamic Blocksize Penalty This is the penalty which will be subtracted from the block reward. In practice it means that whenever a penalty is triggered, the start of tail emission will be slightly postponed (it will ...


7

Two weeks after the v3 fork, nominal fees will decrease from 0.01 monero/kB to 0.002 monero/kB. At the same time, the fee multipliers used for priority determination will change from x1, x2, x3 to x1, x20, x166. These numbers are chosen so that using x166 compensates a miner for the loss of block reward incurred by pushing the block size substantially over ...


7

According to user36303, we do not know for certain yet what the exact transaction size of Ring CT transactions will be. Therefore, this post will be updated once we know that. However, it is highly likely that the fee structure of Monero will stay the same, i.e., transaction fees are calculated per KB. The transaction fee is currently is 0.01 XMR per KB. One ...


7

While running monerod, type in the following command: print_coinbase_tx_sum <start height> <block count> This will sum all the coinbase transaction outputs for the blocks defined by the arguments, while also showing how much is from emission and how much from fees. Example output of the command print_coinbase_tx_sum 0 1000: Sum of coinbase ...


7

Yes, it is possible, and while I can't point at it right now, I know there's at least one in the chain.


6

I have this, which may be wrong as I've not tested it a whole lot. The constants at start are "close enough", I did not try to be 100% precise: 47 + inputs * (39+(mixin+1)*2) + outputs*38 + 64 * inputs * (mixin+1) If you want to know whether a fee is acceptable before it is actually sent, you can use set always-confirm-transfers 1 in simplewallet, and you'...


6

Since the 2014 attack the fee where forced by miners. The calculation for the dynamic fee will be made on the wallet side, and then verified by the miners and if it is on the miners default it will be acepted by the network Note by tewinget: "the network doesn't care about fees for a block, but miners do care about tx fees when deciding which to include in ...


6

This is a minor bug due to the dust threshold (0.01 XMR) being higher than the current fee (0.002 XMR per kB). This is fixed in this pull request. What does that mean, is it that the fees would have been only 0.004 (or 0.006) but the client wants to round that up to 0.01? Basically yes.


6

As in my comment: The transaction size is mainly determined by the number of outputs. The number of inputs and mixin have smaller impact on the tx size. To be more precise, each output comes with a range proof using Borromean ring signature containing 64 pubkeys (representing commitments of all digits) and 2*64+1 scalars. This amounts to 193 instances of ...


6

Maybe it would. In theory, to smoothly function as "originally intended" would mean the median block size would somehow have to grow to the point where one TX is 1.2% of the median, which translates to a block size of roughly 1250kB (15kB being a safe size to fit a "typical" transactions). The magnitude would then be around 2500TX/hour or 0.7TX/s. It's a ...


6

Monero's (dynamic) fee structure is very depending on the dynamic block size and the other way round and all changes have to be very carefully evaluated since otherwise the penalty algo for miners increasing block size might get obsolete. For now, in the v7 upgrade (Monero 0.12) there has been just a quick fix implemented choosing low priority, so 0.25x of ...


5

Output selection is random. That is, simplewallet will pick one random output in your available outputs list, then again, and again, until the total is enough to satisfy the amount to send plus the fee. This means that, depending on what outputs are selected first, you may need either a large set of outputs (if you pick small values ones first), or a small ...


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