0 sats \ 0 replies \ @nkmg1c_ventures 12 May 2023 \ on: Smoothing out the Mempool bitcoin
https://river.com/learn/how-bitcoin-fees-work/#how-are-transaction-fees-determined
https://learnmeabitcoin.com/technical/transaction-fee
https://learnmeabitcoin.com/technical/transaction-weight
The way it works is you basically use the fee as a "bid" hoping to get in. You don't know which miner will succeed. The free market (who is willing to pay) decides. Obvious free-market inspiration.
There are some other considerations with weight but I'm still learning. Something about giving more probability to certain fee ranges seems like a bad idea both for manipulation but also free market reasons.
Check out rationale behind Replace-by-fee
https://en.bitcoin.it/wiki/Transaction_replacement#Replace_by_fee_.28RBF.29