📅 Original date posted:2017-03-30
📝 Original message:On Mar 30, 2017 12:04 PM, "Tom Harding via bitcoin-dev" <
bitcoin-dev at lists.linuxfoundation.org> wrote:
Raystonn,
Your logic is very hard to dispute. An important special case is small
miners.
Small miners use pools exactly because they want smaller, more frequent
payments.
Rising fees force them to take payments less frequently, and will only tend
to make more of them give up.
With fees rising superlinearly, this centralizing effect is much stronger
than the oft-cited worry of small miners joining large pools to decrease
orphan rates.
Miners get paid on average once every ten minutes. The size of fees and the
number of fee transactions does not change the payout rate.
Further, we are very far from the point (in my appraisal) where fees are
high enough to block home users from using the network.
Bitcoin has many high-value use cases such as savings. We should not throw
away the core innovation of monetary sovereignty in pursuit of supporting
0.1% of the world's daily transactions.
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David Vorick [ARCHIVE] /
npub14h…9yjx0
2023-06-07 17:58:33
in reply to nevent1q…5axt
Author Public Key
npub14h948ndawt32ps3y225sslch8344tmw8k5z0lxuxr6wq9tu6sl2qj9yjx0Published at
2023-06-07 17:58:33Event JSON
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"content": "📅 Original date posted:2017-03-30\n📝 Original message:On Mar 30, 2017 12:04 PM, \"Tom Harding via bitcoin-dev\" \u003c\nbitcoin-dev at lists.linuxfoundation.org\u003e wrote:\n\nRaystonn,\n\nYour logic is very hard to dispute. An important special case is small\nminers.\n\nSmall miners use pools exactly because they want smaller, more frequent\npayments.\n\nRising fees force them to take payments less frequently, and will only tend\nto make more of them give up.\n\nWith fees rising superlinearly, this centralizing effect is much stronger\nthan the oft-cited worry of small miners joining large pools to decrease\norphan rates.\n\n\nMiners get paid on average once every ten minutes. The size of fees and the\nnumber of fee transactions does not change the payout rate.\n\nFurther, we are very far from the point (in my appraisal) where fees are\nhigh enough to block home users from using the network.\n\nBitcoin has many high-value use cases such as savings. We should not throw\naway the core innovation of monetary sovereignty in pursuit of supporting\n0.1% of the world's daily transactions.\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20170330/92e8b405/attachment.html\u003e",
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