Post
Topic
Board Altcoin Discussion
Re: DECENTRALIZED crypto currency (including Bitcoin) is a delusion (any solutions?)
by
YarkoL
on 16/01/2016, 08:37:53 UTC




The problem with Bitcoin is that nobody has found and it may well be impossible to find a way to develop a fee market, in the, absence of a block subsidy, that does not over time converge to one of two undesirable results: Fixed blocksize and infinite fees or infinite blocksize and zero fees. Mike Hearn has made a very persuasive argument as to why a fixed blocksize and infinite fees is such an undesirable outcome; however I am sure that Gregory Maxwell can make an equally persuasive argument as to why an infinite blocksize and zero fees is an equally undesirable outcome.


The way out of this dilemma is to allow users set
their own limits on the blocksizes they're willing to accept.