Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
ahpku
on 05/03/2016, 12:26:06 UTC
...
I'm not worried. Just pointing out the obvious pattern:

"Oh I can't tolerate BTC that has a fee market, it's unacceptable if fees go up, the solution to spam can't be to make txs more expensive" ...

Not sure where you're getting this. Most are fine with having a "fee market." It's creating demand by imposing production quotas (1MB cap) that most don't want.

Criticism varies.

"Ohhh my tx didn't go in with 1c", "bitcoin is unreliable because fees fluctuate", "I don't want a fee market because it excludes the poor", "3tx/s are too little", "fuck the 1mb central planners" etc etc.

You might be missing the point.
It's not that the fees are high, but that they'd have to be ~$6.00 per tx, at current exchange rate and current block size limit, for Bitcoin to stop relying on subsidies (block reward). $6 per transaction, with BTC exchange rate @ $400, is too damn high.

And if Core is so eager for the fees market to develop, WTF are they working on Segwit (which will, purportedly, increase the number of tx per solved block)?
Will miners start excluding "spam" transactions once segwit is implemented? If so, why?