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From: Jeff Garzik <jgarzik@exmulti.com>
To: Adam Back <adam@cypherspace.org>
Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
Subject: Re: [Bitcoin-development] merged mining hashcash & bitcoin (Re: Coinbase TxOut Hashcash)
Date: Mon, 13 May 2013 18:00:27 -0400	[thread overview]
Message-ID: <CA+8xBpdoZY2YEPsj5HmBjNob9+s9HqnANS4CLH2BaDOvbGFgbQ@mail.gmail.com> (raw)
In-Reply-To: <20130513211244.GA9550@netbook.cypherspace.org>

On Mon, May 13, 2013 at 5:12 PM, Adam Back <adam@cypherspace.org> wrote:
> When you said destroy-via-miner-fee:
>
>
>> Don't forget:  4. destroy-via-miner-fee, which is useful because it
>> provides funding for a public service (bitcoin transaction
>> verification).
>
>
> Is that directly possible?  Because the reward transaction has no source,
> and no fee?  Or can you put a 25BTC fee in the reward transaction in the
> coinbase?

When a transaction's input value exceeds its output value, the
remainder is the transaction fee.  The miner's reward for processing
transactions is the 25 BTC initial currency distribution + the sum of
all per-transaction fees.  A destroy-by-miner fee transaction is a
normal bitcoin transaction sent by any user, that might look like

Input 1: 1.0 BTC
Output 1: 0.5 BTC

(the miner fee is implicitly 0.5 BTC, paid to whomever mines the
transaction into a block)

Sadly the bitcoin protocol prevents zero-output,
give-it-all-to-the-miner transactions.

-- 
Jeff Garzik
exMULTI, Inc.
jgarzik@exmulti.com



  reply	other threads:[~2013-05-13 22:00 UTC|newest]

Thread overview: 12+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2013-05-11  4:53 [Bitcoin-development] Coinbase TxOut Hashcash Peter Todd
2013-05-11 10:22 ` [Bitcoin-development] merged mining hashcash & bitcoin (Re: Coinbase TxOut Hashcash) Adam Back
2013-05-13  7:31   ` John Dillon
2013-05-13 10:54     ` Adam Back
2013-05-13 18:38       ` Jeff Garzik
2013-05-13 21:12         ` Adam Back
2013-05-13 22:00           ` Jeff Garzik [this message]
2013-05-14  9:25             ` Adam Back
2013-05-14 16:50               ` Jeff Garzik
2013-05-14 20:07                 ` Adam Back
2013-05-14  2:30           ` John Dillon
2013-05-14 17:25         ` Mike Hearn

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