<s​hortwavesurfer2009:monero.social> I'm a little confused. The Monero Standard issued by local Monero, each week, generally says the suggested fee is 20 piconero per byte

<s​hortwavesurfer2009:monero.social> If I'm understanding correctly, the average transaction is around two kilobytes. So, 2000 bytes.

<s​hortwavesurfer2009:monero.social> So 20,000 picos should be a fee of 0.000000020000

<s​hortwavesurfer2009:monero.social> Thats the eighth decimal, but very often in my monerujo i see fees as high as 0.000030000000 10 million piconero

<s​hortwavesurfer2009:monero.social> Thats the eighth decimal, but very often in my monerujo i see fees as high as 0.000030000000 30 million piconero

<s​hortwavesurfer2009:monero.social> Am I misunderstanding something? Or is Monerujo way overcharging for the fees?

fee per byte is 0.000000020000

multiplied by 2000 bytes is about what monerujo suggests

<s​hortwavesurfer2009:monero.social> Is that a normal fee or is that elevated that high because of the crazy amount of transactions that are happening right now?

<s​hortwavesurfer2009:monero.social> matrix.monero.social/_matrix/media/…ero.social/GTtjxlVdzryjxSfcpIDAOyev

it's less than a cent, it's the normal fee and IMO it should be higher

<n​o_2:matrix.org> "...if miners decide to stuff as many transactions as possible to maxamise their fees the 0.6 XMR block reward is burned..."

<n​o_2:matrix.org> Interesting, can someone please elaborate on exactly how this is enforced by the network?

<n​o_2:matrix.org> > <@m-relay:monero.social> <p​lowsof> Definitely not forgiven^ Tail emission video if youve not seen shortwavesurfer2009 yewtu.be/watch?v=sRwSqM0YBto

<n​o_2:matrix.org> "...if miners decide to stuff as many transactions as possible to maxamise their fees the 0.6 XMR block reward is burned..."

<n​o_2:matrix.org> Interesting, can someone please elaborate on why that's an advantage. And how exactly how is this enforced by the network; does going above a certain block size invalidate spending the subsidy from that block's coinbase?

<n​o_2:matrix.org> > <@m-relay:monero.social> <p​lowsof> Definitely not forgiven^ Tail emission video if youve not seen shortwavesurfer2009 yewtu.be/watch?v=sRwSqM0YBto

<n​o_2:matrix.org> "...if miners decide to stuff as many transactions as possible into a block to maxamise their fees the 0.6 XMR block reward is burned..."

<n​o_2:matrix.org> Interesting, can someone please elaborate on why that's an advantage. And how exactly how is this enforced by the network; does going above a certain block size invalidate spending the subsidy from that block's coinbase?

<o​frnxmr:agoradesk.com> Right now, during this pressure, youd think youd see those mempool tx using higher fees via auto setting, but most i see are min fee

<e​ndor00:matrix.org> no_2: here's an excellent (more technical) talk from ArticMine that explains the dynamic blocksize and fee penalty algorithm youtube.com/watch?v=btauHXDIM8M

<e​ndor00:matrix.org> tldw: the blocksize is dynamic - which means there still is a limit to how big you can make a block, but it's not a hardcoded fixed value like in other coins. There's a soft limit (above which you start getting a penalty to the base reward of your block) and a hard limit (which you cannot exceed, and coincides with 0 base reward - i.e. you only get tx fees)

<e​ndor00:matrix.org> The enforcement is part of the consensus rules: the base reward of a block must be a specified function of the blocksize. When a node receives a new block, it verifies that the base reward matches the expected value, and rejects it if it doesn't

<n​o_2:matrix.org> Thanks a lot, I'll take a look.

<n​o_2:matrix.org> Ok, so my initial understanding of the algorithm is basically to encourage block size to only increase as when absolutely necessary - paid for by an excess of transactions.

<n​o_2:matrix.org> From what I gather it's the 'median' stipulation which causes this.

yes. if excess fees can offet the block penalty, blocks can be bigger than median, which can push median up, etc

interestingly somebody could produce like a block much larger than the limit and have it be valid if they eat the penalty

though I think there is a hard cap at some point? maybe

<s​packle_xmr:matrix.org> Yes, the hard cap is 2 * M_N (the penalty median).

<s​packle_xmr:matrix.org> So on a normal day in Monero blocks get created at sizes up to 300 kB, but if a miner ate the full penalty they could make a 600 kB block.

^^

<s​packle_xmr:matrix.org> If anyone wants to play around with the scaling algorithm I wrote a Python simulation for it a while back: github.com/spackle-xmr/Dynamic_Block_Demo

<s​packle_xmr:matrix.org> It helped me when I had questions about how things work.

+1 to spackles work