Quote from: the_end_is_near on May 03, 2017, 10:32:29 PM

Since whales will have transactions which are say 1000 times higher in transferred value than minnows, so if whales are willing to pay 0.1% fee, then minnows will pay a 100% fee (i.e. they can't transact any more).

The whales make up over 80% of all bitcoin supply, leaving only <20% to the bottom 90% and that makes little financial difference whether to retain or oust them out of the blockchain. And 0.1% fee is already a reality today with all the minnows.

You have unjustified nightmare imagination.

At the point that miners are making too much profit off of whales, the whales are economically incentivized to rent hashrate, mine their own blocks, and pay the fees to themselves. Thus ultimately, the miners and the whales are economically the same entities.

The whales and the miners are economically the same entities, per the math above. Your imaginary dialogue is complete nonsense from an economics analysis perspective.

1. If ALL the minnows are completely 100% out of bitcoin blockchain, then WHO will pay the fee to feed the miners? Nobody! Then what's the point of pushing the minnows out? There is no point.
2. If the whales are the same as the miners, then pushing out all the minnows and earn ZERO fee instead of retaining them and earn some fee is unwise.

You keep talking about pushing out the minnows based entirely on miners' greed.
You don't really understand game theory entirely.

Without the minnows, who will pay the fee to the miners?
Who will make up for the difference once ALL the minnows left?
Answer me, you retard!

If bitcoin is reserved only for the whales, the top $billionaires and $trillionaires, then I sincerely say you have no fcking idea what's the primary purpose of bitcoin.
If you think bitcoin is made to fight the tyrant governments and sideline the banksters, you are really an idiot.
Bitcoin wasn't made reserved for the top elites.
Bitcoin was made for us sheeps.
The altcoins are just 1) distraction, 2) sandboxes to test out proposals.