Ninjastic
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Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Peter R
on 25/12/2017, 01:47:27 UTC
Quote from: bones261 on December 25, 2017, 01:34:20 AM
Quote from: Peter R on December 25, 2017, 01:27:59 AM
Quote from: bones261 on December 25, 2017, 01:08:37 AM

I thought this was supposed to be P2P trustless electronic cash. Not connect to some hub and pay additional fees. However, Mr Wright seems to think that if I run a node, and not mining, that I'm just a fat wallet wasting network resources. Such plebs as us should just connect via SPV and pay fees. Wow, Mr Wright, that's really going to help the unbanked of Africa.  Roll Eyes

I'd expect there will always be some form or "free service" available (both for Merkle-branch proofs and for transaction confirmations).  But I suspect timely-confirmations will cost around a penny and that timely SPV proofs will cost several-orders of magnitudes less.


You have too much faith in many of these pool operators, who would be running the mining and the nodes. You really think they are going to charge pennies when they can command dollars?


If they were making absurd profits by overcharging their customers, then new businesses would start up additional SPV-servicing nodes and charge slightly-lower prices to win over customers and claim some of that juicy profit.  Eventually, a market forms where the marginal return on investment for new SPV-servicing nodes is close to the risk-free interest rate in the economy.

This is microeconomics 101.