Fuck if I was a CEO of one of the top five pools I would try to do an Opec oil type group and set min trans action at 50 sats just to see what the market does.
I'd suggest miner switch to different pool and attempt to revive P2Pool first.
--Why leave the high fee pool
Indeed it's not exponential, but in long run it'll make time for initial block download become far longer.
far longer or just longer? but isn't there a train of thought that says bitcoin blocks have a maximum size of 4MB so we should just say the blockchain grows at that rate every 10 minutes and adjust your ssd purchases accordingly? isn't that a reasonable expectation rather than to become upset or negative if it happens to not use less than that maximum as often? 4MB is the worst it can get. adjusting our ssd purchases accordingly is the solution. the solution is not to criticize bitcoin for using what it is allowed to.If the trends (~1.8 MB average block size after Ordinal popularity) continues compared with past trend (~1.2 MB average block size), i would say far longer if we project in next 10 years. In terms of size there would be ~307GB difference (see calculation below).
Code:
0.6 MB * 144 blocks (total blocks mined per day) * 365 (days) * 10 (years) = 315360 MB (~307 GB)
With BRC-20 (and similar protocol), the worst part isn't storage but rather UTXO growth. In last 2 months, total UTXO is increased by about 15 millions.
Source: https://www.statoshi.info/d/000000009/unspent-transaction-output-set?orgId=1&refresh=10m&viewPanel=6&from=now-1y&to=now
oh and by the way, in case people haven't noticed, ssd prices have been plumetting.
And here i still use HDD to store Bitcoin blockchain.
If they blacklist all tx under 50 sats a byte it would be some real fun.
I have to think they will try it.
They will actually lose money during sparse block periods if they try that. I cannot recommend this.I have to think they will try it.
But IMO it comes down to whether which party lose patience first. Could be either pools who lose fair amount of money or Bitcoiner who want their transaction confirmed quickly.
Note bold question.
I mine it is a business
I need fee income
Every ½ ing fee income is more critical and the Block reward lessons.
I will be the first to say while I like to see a 6.25 reward and 4.75 in fees = 11 btc per block but I know it hurts the business of btc if it continues for say 1 or 2 years in a row.
My fears for down the road of ½ ing rewards are getting fees to work well enough for
miners, pools and users of btc.
6.25 + 0.75 = 7 seems to work okay
6.25 + 5.7 = 12 seems to be an issue if it goes for a long time 6 months a year seem bad.
so in a year
3.125 + 0.875 = 4 seems okay
3.125 + 5.875 = 9 seems wrong a real problem
in 2028
1.5625 + 0.9375 = 2.5 still may work
1.5625 + 5.4375 = 7.0 seem worn a real problem
on and on and on
I worry for this to get worse as time goes on.
My bigger fear is not BRC-20 it is top pools simply blacklist fees under 50 sats a byte.