So you need to wait for a certain amount of time until a miner decided to pick your transaction out of all of those sitting around in the mempool.
How do miners actually decide and pick? Do they browse through the mempool online and pick transactions they like, or is it done automatically by an algorithm.
Hey John, great question!
I actually don’t know the answer to this…I’m assuming this would be done in some automatic way as each block contains thousands of transactions and needs to be set up fairly quickly to start the “mining competition” after the previous block was mined.
I assume that the pool manager decides on the rules for this (i.e. which transactions to pick).
I’ll try to find out the answer for this but in the meantime perhaps you can ask on Bitcointalk’s mining forum perhaps they will have more info. If you do find out the answer I’d appreciate if you could share it.
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