📅 Original date posted:2015-08-17
📝 Original message:On 12.08.15 11.45, Jorge Timón via bitcoin-dev wrote:
> 1) Potential indirect consequence of rising fees.
> 2) Software problem independent of a concrete block size that needs to
> be solved anyway, often specific to Bitcoin Core (ie other
> implementations, say libbitcoin may not necessarily share these
> problems).
I don't think rising fees is the issue.
Imagine that the government is worried because air lines are selling
tickets cheaply and may run themselves out of business. So their
solution is passing a new law that says only one commercial air plane is
allowed to be in the air at any given time.
This should help a ticket market to develop and prevent air lines from
giving away almost free tickets. In this way the government can protect
the air lines from themselves.
I would not classify all issues that would come out of this as
"potential indirect consequences of rising ticket prices."
It would just make air travel unusable.
That's the problem we may face in the short term.
It would be unwise to go all-in on a solution that doesn't exist yet,
which may or may not arrive in time, and may or may not do the job that
is needed. We need to use the solution we already have so that we can
get by in the short term.
I don't think mining pools will immediately make blocks as big as
possible if the hard limit is raised. Remember that mining pools had to
be coaxed into increasing their block size. Mining pools were making
small blocks to reduce the rate of orphaned blocks. Block propagation is
faster today, but this issue still exists. You need a lot of transaction
fees to make up for the danger of losing 25 BTC. Many pools don't even
pay out transaction fee income to their miners.
--
Regards,
Geir H. Hansen, Bitminter mining pool
BitMinter operator [ARCHIVE] /
npub1sw…zkmvy
2023-06-07 17:34:11
in reply to nevent1q…tuhp
Author Public Key
npub1sw58hssr5t6k5x08d7n7ul7cy35l6t2l2vqhlwat65n6h9m7qc8suzkmvyPublished at
2023-06-07 17:34:11Event JSON
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"content": "📅 Original date posted:2015-08-17\n📝 Original message:On 12.08.15 11.45, Jorge Timón via bitcoin-dev wrote:\n\u003e 1) Potential indirect consequence of rising fees.\n\u003e 2) Software problem independent of a concrete block size that needs to\n\u003e be solved anyway, often specific to Bitcoin Core (ie other\n\u003e implementations, say libbitcoin may not necessarily share these\n\u003e problems).\n\nI don't think rising fees is the issue.\n\nImagine that the government is worried because air lines are selling\ntickets cheaply and may run themselves out of business. So their\nsolution is passing a new law that says only one commercial air plane is\nallowed to be in the air at any given time.\n\nThis should help a ticket market to develop and prevent air lines from\ngiving away almost free tickets. In this way the government can protect\nthe air lines from themselves.\n\nI would not classify all issues that would come out of this as\n\"potential indirect consequences of rising ticket prices.\"\n\nIt would just make air travel unusable.\n\nThat's the problem we may face in the short term.\n\nIt would be unwise to go all-in on a solution that doesn't exist yet,\nwhich may or may not arrive in time, and may or may not do the job that\nis needed. We need to use the solution we already have so that we can\nget by in the short term.\n\nI don't think mining pools will immediately make blocks as big as\npossible if the hard limit is raised. Remember that mining pools had to\nbe coaxed into increasing their block size. Mining pools were making\nsmall blocks to reduce the rate of orphaned blocks. Block propagation is\nfaster today, but this issue still exists. You need a lot of transaction\nfees to make up for the danger of losing 25 BTC. Many pools don't even\npay out transaction fee income to their miners.\n\n-- \nRegards,\nGeir H. Hansen, Bitminter mining pool",
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