📅 Original date posted:2014-10-05
📝 Original message:On Sun, Oct 5, 2014 at 4:54 PM, Jorge Timón <jtimon at blockstream.io> wrote:
> In any case, it is interesting to think about this things since mining
> subsidies will eventually disappear and then transaction fees will
> ALWAYS be higher than subsidies.
You can imagine that instead of subsidy Bitcoin came with a initial
set of nlocktimed transactions that pay fees, one block at a time, for
each block from the start until the subsidy goes away.
Perhaps that mental model might make it clear why some people think
that the nlocked transactions and the block size being lower than the
instant offered demand (there is always a backlog) are both things
which address the concern of this thread. :)
Gregory Maxwell [ARCHIVE] /
npub1f2…crwet
2023-06-07 15:26:18
in reply to nevent1q…y2pu
Author Public Key
npub1f2nvlx49er5c7sqa43src6ssyp6snd4qwvtkwm5avc2l84cs84esecrwetPublished at
2023-06-07 15:26:18Event JSON
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"content": "📅 Original date posted:2014-10-05\n📝 Original message:On Sun, Oct 5, 2014 at 4:54 PM, Jorge Timón \u003cjtimon at blockstream.io\u003e wrote:\n\u003e In any case, it is interesting to think about this things since mining\n\u003e subsidies will eventually disappear and then transaction fees will\n\u003e ALWAYS be higher than subsidies.\n\nYou can imagine that instead of subsidy Bitcoin came with a initial\nset of nlocktimed transactions that pay fees, one block at a time, for\neach block from the start until the subsidy goes away.\n\nPerhaps that mental model might make it clear why some people think\nthat the nlocked transactions and the block size being lower than the\ninstant offered demand (there is always a backlog) are both things\nwhich address the concern of this thread. :)",
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