I have a contract which needs to be updated occasionally.
So I create a transaction, sign it and send it to the network.
When I do that, I state a gas-price.
The higher the gas-price is, the faster the transaction should execute, since miners normally choose higher requests first, in order to optimize their profit.
However, an idea came to me.
I suppose I'm not the first one, but I'll ask it anyway:
Why shouldn't I set up a miner account, which would mine only transactions with the lowest gas-price possible - 1 wei?
Then, I shall submit all of my contract-update transactions with a price tag of 1 wei.
Should some other miner catch them first (for some odd reason, because who would want to work for such a low price), I will end up paying 1 wei to that miner.
If I catch them first, the I gain back the 1 wei that I've spent.
In either case, I end up spending very little for updating my own contract (and a little more for server time, but I'm paying for that anyway since I need that Parity node up and running).
Is there any downside that I'm missing here?
Thank you very much!