user6838: if I set a transaction fee from multibit for example, is it a fee I'm paying or is it a fee that the other party is paying; and to whom does that fee go to?

user9301: The fee goes to the miners and is deducted from your wallet.  Including a fee in your transaction improves the chance that your transaction will quickly be included in a block.

user10285: wiki

The transaction fee is an incentive on the part of the bitcoin user to make sure that a particular transaction will get included into the next block which is generated.


6838: <p>if I set a transaction fee from multibit for example, is it a fee I'm paying or is it a fee that the other party is paying; and to whom does that fee go to?</p>
 9301: <p>The fee goes to the miners and is deducted from your wallet.  Including a fee in your transaction improves the chance that your transaction will quickly be included in a block.</p>
 10285: <p><a href="https://en.bitcoin.it/wiki/Transaction_fees" rel="nofollow">wiki</a></p>

<blockquote>
  <p>The transaction fee is an incentive on the part of the bitcoin user to make sure that a particular transaction will get included into the next block which is generated.</p>
</blockquote>
