Subject: Re: [Bitcoin-development] Even simpler minimum fee calculation formula: f > bounty*fork_rate/average_blocksize

From: Peter Todd <[email-masked]>
Date: Wed, 20 Nov 2013 05:01:08 -0500

On Fri, Nov 15, 2013 at 02:19:56PM -0500, Peter Todd wrote:
> On Fri, Nov 15, 2013 at 12:47:46PM +0100, Michael Gronager wrote:
> > -----BEGIN PGP SIGNED MESSAGE-----
> > Hash: SHA1
> > 
> > On 15/11/13, 11:32 , Peter Todd wrote:
> > 
> > > alpha = (1/113)*600s/134kBytes = 39.62uS/byte = 24kB/second
> > > 
> > > Which is atrocious... 
> > 
> > alpha = P_fork*t_block/S = 1/113*454000/134 = 29ms/kb
> 
> Huh? Where did 454000 come from?

Oh right, you're using the actual block interval, not the steady state
one.

-- 
'peter'[:-1]@petertodd.org
00000000000000056032432f186a8276d3feecb805d064c1def85905670a453b