From: David Vorick <david.vorick@gmail•com>
To: Bitcoin Dev <bitcoin-dev@lists•linuxfoundation.org>,
Tom Harding <tomh@thinlink•com>
Subject: Re: [bitcoin-dev] High fees / centralization
Date: Thu, 30 Mar 2017 12:14:24 -0400 [thread overview]
Message-ID: <CAFVRnyq07qNappzwEmB_e+xCKPyCzHcWbnTDWCdeWjrsMMioLQ@mail.gmail.com> (raw)
In-Reply-To: <CALJP9GDH1xQ-cYc1SN6jejXDA49eiy_OR49XLLWd+=VdNo7ekA@mail.gmail.com>
[-- Attachment #1: Type: text/plain, Size: 1005 bytes --]
On Mar 30, 2017 12:04 PM, "Tom Harding via bitcoin-dev" <
bitcoin-dev@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.
[-- Attachment #2: Type: text/html, Size: 1989 bytes --]
next prev parent reply other threads:[~2017-03-30 16:14 UTC|newest]
Thread overview: 8+ messages / expand[flat|nested] mbox.gz Atom feed top
[not found] <CALJP9GB2Fds8m9JpaVv0NxGDr579BtR9RMs7-KNSLkK8Mz7LoA@mail.gmail.com>
[not found] ` <CALJP9GAOgpSAhrrYFPRbGKZXwqZn_oDUmv6B7wcvwxcZufDd0g@mail.gmail.com>
[not found] ` <CALJP9GDkdxsvOZHJxzx+0pvjWBAkAswZCWXcp=zL7LNMRNfCOg@mail.gmail.com>
[not found] ` <CALJP9GBk4gG0H+tEJmEiz=0+LAQoe6_sL1Fv-BCJSfmvfY8PRA@mail.gmail.com>
2017-03-30 15:38 ` Tom Harding
2017-03-30 16:14 ` David Vorick [this message]
2017-03-30 21:52 ` Jared Lee Richardson
2017-03-31 1:39 ` Vladimir Zaytsev
2017-03-31 2:01 ` Jared Lee Richardson
2017-03-31 2:26 ` Vladimir Zaytsev
2017-04-02 19:45 ` Staf Verhaegen
2017-03-31 1:13 ` Tom Harding
Reply instructions:
You may reply publicly to this message via plain-text email
using any one of the following methods:
* Save the following mbox file, import it into your mail client,
and reply-to-all from there: mbox
Avoid top-posting and favor interleaved quoting:
https://en.wikipedia.org/wiki/Posting_style#Interleaved_style
* Reply using the --to, --cc, and --in-reply-to
switches of git-send-email(1):
git send-email \
--in-reply-to=CAFVRnyq07qNappzwEmB_e+xCKPyCzHcWbnTDWCdeWjrsMMioLQ@mail.gmail.com \
--to=david.vorick@gmail$(echo .)com \
--cc=bitcoin-dev@lists$(echo .)linuxfoundation.org \
--cc=tomh@thinlink$(echo .)com \
/path/to/YOUR_REPLY
https://kernel.org/pub/software/scm/git/docs/git-send-email.html
Be sure your reply has a Subject: header at the top and a blank line
before the message body.
This is a public inbox, see mirroring instructions
for how to clone and mirror all data and code used for this inbox