Subject: Re: [Bitcoin-development] Block Size Increase

From: Justus Ranvier <[email-masked]>
Date: Thu, 07 May 2015 05:03:47 +0200

On 05/07/2015 03:49 AM, Peter Todd wrote:
> I'm not sure if you've seen this, but a good paper on this topic
> was published recently: "The Economics of Bitcoin Transaction
> Fees"

..for some very strange definitions of "good".

That paper may present valid game theory, yet game theory has a
well-known limitation when it comes to predicting real world behavior
in that the predictions are only as good as the simplified model those
predictions are based on is accurate.

At the very least, we should wait to draw any conclusions from that
paper until it has been sanity checked by a praxeological review.