Post
Topic
Board Development & Technical Discussion
Re: SatoshiDice, lack of remedies, and poor ISP options are pushing me toward "Lite"
by
justusranvier
on 01/01/2013, 13:15:47 UTC
It's not necessarily the case that transaction fees are the only way
They are— however— the way we signed up for.[/quote]I signed up for a currency with a predetermined, limited supply and a lack of a mechanism to enforce prior restraint, not guaranteed profits for any particular person or group of people.

If Satoshi thought that transaction fees would be how mining supported itself, that was just a guess. He couldn't possibly have known how it would eventually work out or even thought he could know. Note that some of his other guesses have proved wrong, like the popularity of sending directly to IP addresses.

Right now it makes sense to limit the growth of the blockchain while the network is still young, to prevent spammers from overloading it, but restricting the block size in the long term for the exclusive purpose of keeping transaction fees high is a form of central planning. If artificially restricting supply in order to manipulate prices worked to create a healthy economy, there wouldn't be so many people trying to leave managed economies for Bitcoin.