I have a mature block now (yay~ less than 30 hours after it was mined). I wanted to trasfer it to another wallet of mine and was asked for a 0.01XPM transaction fee. I thought there is no fee for PrimeCoin. Or the “no tax” stated in the pre-launch thread is for something else?
In the GUI settings->Option has the defalt 0.00000 in the transaction fee box.
Transaction fee is enforced at 0.01 per KB similar to PPC. This is not ‘tax’, which is a term referring to a percentage taken from newly mint coins for developers/foundation, like in DVC and FRC. Transaction fees are necessary mechanism in cryptocurrency to defend against spamming attack, and are paid to the miner of the block in XPM.
The options dialog did not show this minimum, should be fixed by next release.
Thanks for the explanation Sunny.
btw I just learned how to link blocks in different wallets to one wallet, without borthering the blockchain. https://bitcointalk.org/index.php?topic=251850.msg2692552#msg2692552 It even works for immature ones.
[quote=“Sunny King, post:2, topic:210”]Transaction fee is enforced at 0.01 per KB similar to PPC. This is not ‘tax’, which is a term referring to a percentage taken from newly mint coins for developers/foundation, like in DVC and FRC. Transaction fees are necessary mechanism in cryptocurrency to defend against spamming attack, and are paid to the miner of the block in XPM.
The options dialog did not show this minimum, should be fixed by next release.[/quote]
Does that mean transaction fees are paid to the miner like BTC rather than destroyed like PPC?
Correct. XPM transacction fees are not destroyed but paid to miners as their supplemental mining income.