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Ah interesting, that makes sense. Can miners set their own transaction fees? And related if I want to make a bitcoin transaction can I (or my software) choose which miners to use to verify those transactions? Or are those fees determined by the protocol itself?


My understanding is that when conducting bitcoin transactions you can establish the fee you're willing to pay, the miners can optionally prioritize based on those fees. Theoretically it's possible that you'd have a transaction never verified or verified after a great period of time in the blockchain because your fee was set too low.




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