Subject: Re: [bitcoin-dev] Fees and the block-finding process

From: Pieter Wuille <[email-masked]>
Date: Tue, 11 Aug 2015 01:11:14 +0200

On Aug 11, 2015 12:52 AM, "Pieter Wuille" <[email-masked]> wrote:
>
>
> On Aug 11, 2015 12:18 AM, "Thomas Zander via bitcoin-dev" <
[email-masked]> wrote:
>
> > Have you ever been to a concert that was far away from public
transport? They
> > typically set up bus shuttles, or taxis to get people back into town
> > afterwards.
> > The result there is always you end up waiting forever and it actually
may be
> > easier to just walk instead of wait.
> > The amount you pay is irrelevant if everyone is paying it. There still
is more
> > demand than there is capacity.
>
> That's an incorrect analogy. You choose the rate you pay, and get higher
priority when you pay more. Taxi drivers can't pick out higher-paying
customers in advance.

I'm sorry, I missed your "if everyone is paying it". This changes a lot. I
agree with you: if everyone wants to pay much then it becomes unreliable.

But I don't think that is something we can avoid with a small constant
factor block size increase, and we don't do the world a service by making
it look like it works for longer.

Let's grow within bounderies set by technology and centralization pressure
that we can agree on. Let the market decide whether how they will that will
low volume reliable transactions and/or high volume unreliable ones.

-- 
Pieter