painlord2k
Posts: 1
Joined: Thu Oct 01, 2015 4:45 pm

Selecting a pool to mine a transaction

Tue Jan 10, 2017 12:50 am

In this post over r/btc
https://www.reddit.com/r/btc/comments/5 ... preferred/
someone proposed a way for a user to write a transaction to be mined by a specific miner.

I think the concept interesting but the idea clunky. The users would need to trust a third party (and Bitcoin is against trusting third parties)

Here my proposal, if some miner wants to implement it:

The miner designate an address (fee address) where people can send an output from a transaction
The users write the transaction and add an output to the fee address without paying any fee to the network.

The only miner with any incentive to mine that transaction is the miner controlling the receiving fee address.

If the user wants his transactions to be mined just by any pool in a group (say Bitcoin Unlimited miners) he can send to the network competing transactions paying different miners. The first to include one of these will invalidate all the others.

If the block size is limited, I want to pay the higher fee to the miners contributing to a solution I like, not the ones contributing to a solution I don't like or contributing to increase the problem.

Rmcdermott927
Bronze Bitcoiner
Bronze Bitcoiner
Posts: 590
Joined: Tue Sep 20, 2016 7:32 pm

Re: Selecting a pool to mine a transaction

Tue Jan 10, 2017 3:44 am

The idea is interesting but it is important to note:

"None of the miners/pools have agreed to accept or process the transactions provided to them by the Preferred Miner service yet"


We will see how it goes when at least one medium-large sized pool adopts this.

The bottom line is money, blocks are full and there are very few instances I can imagine miners accepting "preferred" transactions with less of a fee than standard.
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