From: Melvin Carvalho <melvincarvalho@gmail•com>
To: bitcoin-dev@lists•linuxfoundation.org
Subject: [bitcoin-dev] Total fees have almost crossed the block reward
Date: Thu, 21 Dec 2017 22:30:20 +0100 [thread overview]
Message-ID: <CAKaEYhJ0vC8wf9yYjovfoZLB-TTvEnVB2a3mkC-YDzmnLwtz1Q@mail.gmail.com> (raw)
[-- Attachment #1: Type: text/plain, Size: 1015 bytes --]
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.
[-- Attachment #2: Type: text/html, Size: 1300 bytes --]
next reply other threads:[~2017-12-21 21:30 UTC|newest]
Thread overview: 13+ messages / expand[flat|nested] mbox.gz Atom feed top
2017-12-21 21:30 Melvin Carvalho [this message]
2017-12-21 22:02 ` Jameson Lopp
2017-12-21 22:18 ` Jim Rogers
2017-12-21 23:15 ` Michel 'ic' Luczak
2017-12-21 22:44 ` Gregory Maxwell
2017-12-21 23:35 ` Paul Iverson
2017-12-22 0:30 ` Mark Friedenbach
2017-12-22 1:15 ` Gregory Maxwell
2018-02-12 17:23 ` Melvin Carvalho
2018-02-12 17:47 ` rhavar
2018-02-12 18:12 ` Peter Todd
2018-02-12 19:41 ` Christian Decker
2018-02-13 19:03 ` Peter Todd
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=CAKaEYhJ0vC8wf9yYjovfoZLB-TTvEnVB2a3mkC-YDzmnLwtz1Q@mail.gmail.com \
--to=melvincarvalho@gmail$(echo .)com \
--cc=bitcoin-dev@lists$(echo .)linuxfoundation.org \
/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