Post
Topic
Board Bitcoin Discussion
Re: Small blocks, middle blocks or big blocks?
by
Wind_FURY
on 10/05/2019, 07:24:10 UTC
The paper specifically discusses miners creating set minimum fee per tx and why that cannot work , a point you keep ignoring
well you go treat that paper as your bible, and ill use my own research and stats and experience as the formation of what i will continue to go by.

by the way, that paper has lots of if's and assumptions too. so take it with a grain of salt.
just because someone puts a fancy title page and calls it a 'paper' doesnt mean its well researched

transactions having a fee does not guarantee acceptance in a block
transactions having a fee+x does not guarantee acceptance in a block before a transaction thats just fee-x
pools are free to choose a transaction to include for any reason they please. so fe's and blocksize are not things the network should mess with because it doesnt help/coerce a pool into doing what a network wants.

again a pool could develop its own fee rationale and cause users to adapt.
EG pools could stop accepting segwit transactions unless they pay the same price a legacy tx pays
EG pools could stop accepting legacy transactions priced at a 4x segwit comparative and only accept legacy tx's with cheap fees at a 1:1 comparative

pools can decide to ignore certain transaction formats like LN CLTV's

you and your papers assumptions that pools automatically will grab the highest tx and aim to fill blocks is the biggest empty assumption of all

Funny , people always seem to forget the miners control the fees structure.
Miners could raise the price of transacting in segwit alone,
so it compensated them for the lost transactions revenue stolen by LN from the normal onchain fees.
That would be some cosmic humor.  Cheesy


How? By flooding the mempool? Cool

Quote

LN offchain fees would be higher than BTC onchain fees in such a scenario.    Smiley
Flaws created by using a soft fork instead of a hard fork.   Tongue
Cough Cough, I mean Features.  Cheesy


That doesn't make sense. In that "scenario", blocks would be empty, and Lightning would be in-demand to its maximum limit.

Quote

FYI:
So as a miner, I know a segwit address allows say 200 extra transactions offchain in LN,
so I automatically charge 200X more for segwit transactions than a normal transaction to compensate.
Well, I bet no one saw that one coming.   Wink


You assume ALL miners will be cooperating together to undermine the system. But if that happens, then Bitcoin has failed.