@
vjudeu> better to allow transaction joining.. to make fees more smoothly
I'm not familiar with RSK transaction joining. However, I don't think this addresses the issues Corey brought up - which is that the appropriate amount of security (ie miner revenue) isn't linked with any bitcoin market behavior. It sounds like you're suggesting something that could smooth out the fee market and potentially lower fees, however it doesn't sound like a mechanism that could be used to target a particular security level.
> I think the market should adjust fees, and finding the right balance between on-chain and off-chain should be left to the users, just by providing them options like transaction joining
The market has an incentive to minimize fees. So I don't see how this would be sufficient if it ends up that miner revenue from fees is too low.
@Erik
> I think perhaps you're underestimating the degree to which utility can be added to the main chain to encourage fees.
It seems you've misinterpreted me to be saying that fees will be too low. I have no idea if fees will be too low or not. And you might be right that fees are likely to remain high enough. However, fees might also remain *too high* which itself could be a problem. As I noted above, since market forces all incentivize driving fees down, what do we do if that force drives it below a sufficient level? How will we know when that happens until we know what the sufficient level of security is (eg in terms of total miner revenue).
@Guiseppe
> If it only takes a few million dollars to attack BTC and make it completely unusable for one day
It would take much more than a few million to 51% attack bitcoin. Bitcoin's blockchain security is primarily based on the capital cost of buying up a massive amount of hashpower. The ongoing maintenance and electricity costs of mining are actually not very relevant to security because all those ongoing costs are directly offset by mining revenues. Its the upfront costs that serve as the primary barrier an attacker must surpass. Acquiring the mining hardware, finding places where energy costs are low enough, setting up the equipment, etc. To do that costs billions of dollars, not millions.