Who gets monero transaction fees?

Question

I am running a monero node and I would like to know where do the Monero transaction fees go ? Do I need to set something into the monerod node setup to receive transaction fees ?

Answer 1

Transaction fees are paid to the particular miner who includes the transaction in a block. The more transaction you fit in a block, the more fees you get. However, once you pass the median of the last 100 blocks in size, the base reward goes down, so there exists a sweet spot in size which maximizes the base reward plus transaction fees you get.

Once you've start monerod, issue this command to start mining:

start_mining ADDRESS THREADS

ADDRESS will be the Monero address you want the mining fees to go to. THREADS is the number of threads you want to dedicate to mining.

Alternatively, if you have low hash rate, you might prefer to mine in a pool, which offers more frequent, but smaller, payouts, for a long term income which is roughly on par with solo mining.

Answer 2

Miners get those, together with the block reward. Just running a node is not rewarded.

Answer 3

The person who approves your transaction in the mining process takes your transaction fee as payment to put the transaction in the now solved block.

If you mined that block, kudos to you! You just got your money back!

Running a node just makes it to where you will broadcast all new blocks from a local miner.