📅 Original date posted:2014-10-06
📝 Original message:>
> 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.
> :)
I'm skeptical such a situation can ever be stable. People have no incentive
to create a transaction that will remain stuck in the backlog forever,
regardless of the effect it may have on the rest of the system.
If someone invents a business model in which lots of payments are made,
with fees, but that only clear probabilistically, perhaps such a situation
could occur. But otherwise I think we have to assume that people won't make
transactions that will lose the competition game, and instant demand would
only ever be roughly equal to supply.
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Mike Hearn [ARCHIVE] /
npub17t…4qgyd
2023-06-07 15:26:18
in reply to nevent1q…3c9c
Author Public Key
npub17ty4mumkv43w8wtt0xsz2jypck0gvw0j8xrcg6tpea25z2nh7meqf4qgydPublished at
2023-06-07 15:26:18Event JSON
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"content": "📅 Original date posted:2014-10-06\n📝 Original message:\u003e\n\u003e the block size being lower than the instant offered demand (there is\n\u003e always a backlog) are both things which address the concern of this thread.\n\u003e :)\n\n\nI'm skeptical such a situation can ever be stable. People have no incentive\nto create a transaction that will remain stuck in the backlog forever,\nregardless of the effect it may have on the rest of the system.\n\nIf someone invents a business model in which lots of payments are made,\nwith fees, but that only clear probabilistically, perhaps such a situation\ncould occur. But otherwise I think we have to assume that people won't make\ntransactions that will lose the competition game, and instant demand would\nonly ever be roughly equal to supply.\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20141006/960af166/attachment.html\u003e",
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