📅 Original date posted:2017-12-21
📝 Original message:I asked adam back at hcpp how the block chain would be secured in the long
term, once the reward goes away. The base idea has always been that fees
would replace the block reward.
At that time fees were approximately 10% of the block reward, but have now
reached 45%, with 50% potentially being crossed soon
https://fork.lol/reward/feepct
While this bodes well for the long term security of the coin, I think there
is some legitimate concern that the fee per tx is prohibitive for some use
cases, at this point in the adoption curve.
Observations of segwit adoption show around 10% at this point
http://segwit.party/charts/
Watching the mempool shows that the congestion is at a peak, though it's
quite possible this will come down over the long weekend. I wonder if this
is of concern to some.
https://dedi.jochen-hoenicke.de/queue/more/#24h
I thought these data points may be of interest and are mainly FYI. Though
if further discussion is deemed appropriate, it would be interesting to
hear thoughts.
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Melvin Carvalho [ARCHIVE] /
npub1uv…saxrt
2023-06-07 18:08:57
in reply to nevent1q…ecgg
Author Public Key
npub1uvtfvcegcn9kds68r8he57emc480vqtx8t22kpsctxgjxae44gvsksaxrtPublished at
2023-06-07 18:08:57Event JSON
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"content": "📅 Original date posted:2017-12-21\n📝 Original message:I asked adam back at hcpp how the block chain would be secured in the long\nterm, once the reward goes away. The base idea has always been that fees\nwould replace the block reward.\n\nAt that time fees were approximately 10% of the block reward, but have now\nreached 45%, with 50% potentially being crossed soon\n\nhttps://fork.lol/reward/feepct\n\nWhile this bodes well for the long term security of the coin, I think there\nis some legitimate concern that the fee per tx is prohibitive for some use\ncases, at this point in the adoption curve.\n\nObservations of segwit adoption show around 10% at this point\n\nhttp://segwit.party/charts/\n\nWatching the mempool shows that the congestion is at a peak, though it's\nquite possible this will come down over the long weekend. I wonder if this\nis of concern to some.\n\nhttps://dedi.jochen-hoenicke.de/queue/more/#24h\n\nI thought these data points may be of interest and are mainly FYI. Though\nif further discussion is deemed appropriate, it would be interesting to\nhear thoughts.\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20171221/d2feec02/attachment.html\u003e",
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