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authorRob Golding <rob.golding@astutium.com>2015-05-10 22:56:30 +0100
committerbitcoindev <bitcoindev@gnusha.org>2015-05-10 23:18:18 +0000
commit2fc349f3f3b8a796f6a999255fd3814fc33e410c (patch)
tree0c793c52f4f343dd7b0620a35b30a4547ed15fec
parentb1eb7b2d261b6e7bceccb04fc58365f4c6487d91 (diff)
downloadpi-bitcoindev-2fc349f3f3b8a796f6a999255fd3814fc33e410c.tar.gz
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Re: [Bitcoin-development] Proposed alternatives to the 20MB step function
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+Date: Sun, 10 May 2015 22:56:30 +0100
+From: Rob Golding <rob.golding@astutium.com>
+To: Bitcoin Development <bitcoin-development@lists.sourceforge.net>
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+Subject: Re: [Bitcoin-development] Proposed alternatives to the 20MB step
+ function
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+
+> How much will that cost me?
+> The network is hashing at 310PetaHash/sec right now.
+> Takes 600 seconds to find a block, so 186,000PH per block
+> 186,000 * 0.00038 = 70 extra PH
+>
+> If it takes 186,000 PH to find a block, and a block is worth 25.13 BTC
+> (reward plus fees), that 70 PH costs:
+> (25.13 BTC/block / 186,000 PH/block) * 70 PH = 0.00945 BTC
+> or at $240 / BTC: $2.27
+>
+> ... so average transaction fee will have to be about ten cents ($2.27
+> spread across 23 average-sized transactions) for miners to decide to
+> stay at 600K blocks
+
+Surely that's an *extra* $2.27 as you've already included .13BTC
+($31.20) in fees in the calculation ?
+
+Rob
+
+