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Estimating the marginal cost of a transaction on the Bitcoin (Cash) network

Recently, the mempool has not been clearing with every block found. Should we immediately raise the block-size? Perhaps put plans to make the easy relay of sub satoshi/byte transaction on hold?
Step 1: find the price of storing a transaction
Searching NCIX:
Calculate the price per TB, assuming 1 is 6 drives are used for parity (30 bays usable storage)
Estimate the UTXO premium:
As you can see. miners have a strong incentive to offer free UTXO consolidation transactions: and require bulk UTXO fanning transaction to pay a fee of 494.86sat/kB -- about 0.5 sat/byte. ((0.01249USD/kB)/(2523.96USD/BCH)*100,000,000sat/BCH)
Fees are no where near that high due to the block subsidy. For an 8MB block: 1,250,000,000 satoshies/ 8000 kB -> 156,250sat/kB; or more conventionally: 157satosies/byte.. Note that the block subsidy per kB goes down with larger block-sizes.
Step 2: Estimate Bandwidth costs
Disclaimer: I am not too familiar with commercial bandwidth plans
Exercise to the reader:
Re-do these calculations for hobbyist hardware and internet connections. You probably have to assume a smaller block size: such as 100MB.
Disclaimer: I later learned the site I was using for prices (NCIX) was bankrupt. Not sure how much that would skew prices.
submitted by phillipsjk to btc [link] [comments]

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How to Calculate Bitcoin Transaction Size

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