馃搮 Original date posted:2015-07-30
馃摑 Original message:On Thu, Jul 30, 2015 at 4:52 PM, Thomas Zander via bitcoin-dev
<bitcoin-dev at lists.linuxfoundation.org> wrote:
> On Thursday 30. July 2015 11.38.00 Jorge Tim贸n via bitcoin-dev wrote:
>> It is important ro note that even if lightning was never developed, the
>> block size remains at 1 MB forever and fees rise to 10 usd per transaction,
>> such "high fees" are still extremely competitive with non-decentralized
>> payment systems that have proportional fees.
>
>
> What makes you think that when there is such a low availability of transaction
> space that paying to be included costs you $10, that Bitcoin is not going to
> be outcompeted and replaced or otherwise regarded as worthless?
I'm just saying that rational economic actors will prefer to pay 10
usd over 11 usd in fees.
My example was: 10 usd flat fee vs 1% fee (both numbers pulled out of a hat).
Well, 10 usd fees is cheaper than 1% fees for any transacted amount
greater than 1000 usd.
Take into account that this is just an extreme example to make my
point: hopefully fees will never rise to a value as high as 10 usd.
Jorge Tim贸n [ARCHIVE] /
npub1fx鈥l2d8
2023-06-07 15:44:03
in reply to nevent1q鈥xjh
Author Public Key
npub1fx98zxt3lzspjs5f4msr0fxysx5euucm29ghysryju7vpc9j0jzqtcl2d8Published at
2023-06-07 15:44:03Event JSON
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"content": "馃搮 Original date posted:2015-07-30\n馃摑 Original message:On Thu, Jul 30, 2015 at 4:52 PM, Thomas Zander via bitcoin-dev\n\u003cbitcoin-dev at lists.linuxfoundation.org\u003e wrote:\n\u003e On Thursday 30. July 2015 11.38.00 Jorge Tim贸n via bitcoin-dev wrote:\n\u003e\u003e It is important ro note that even if lightning was never developed, the\n\u003e\u003e block size remains at 1 MB forever and fees rise to 10 usd per transaction,\n\u003e\u003e such \"high fees\" are still extremely competitive with non-decentralized\n\u003e\u003e payment systems that have proportional fees.\n\u003e\n\u003e\n\u003e What makes you think that when there is such a low availability of transaction\n\u003e space that paying to be included costs you $10, that Bitcoin is not going to\n\u003e be outcompeted and replaced or otherwise regarded as worthless?\n\nI'm just saying that rational economic actors will prefer to pay 10\nusd over 11 usd in fees.\nMy example was: 10 usd flat fee vs 1% fee (both numbers pulled out of a hat).\nWell, 10 usd fees is cheaper than 1% fees for any transacted amount\ngreater than 1000 usd.\nTake into account that this is just an extreme example to make my\npoint: hopefully fees will never rise to a value as high as 10 usd.",
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