Quote from: HmmMAA on Today at 08:15:44 AM

Quote from: franky1 on December 09, 2023, 03:25:39 PM

demanding less transactions but higher fee premiums is not the economic dynamics of keeping the network useful and fruitful

How about demanding more transactions with lower fees by increasing blocksize ? Isn't the outcome of a block reward the same ? Who benefits from something like that ? Because the way i see it , current status only favors miners . If onchain transactions go down , this favors users . More transactions in each block would benefit both miners and users . But for sure the only entities that earn more than anybody else with current model are pools . It's basically free money for them .
An argument would be that there is no interest currently to transact on btc so no need to increase blocksize . Global transactions in crypto are hundreds of millions transactions per day . Merchants could use bitcoin instead of visa but as btc works you can't advertise it as an alternative method of payment . Of course , not everyone would be able to run a node , which is against maxis ethics .
By your logic , if blocksize never increases and subsidy is zero , network would still work fine . I'm not saying that it won't work , what i argue is that it won't be secure .

when you learn how cores fee estimator works, then you will see how your notions fail

core doesnt count fees once tx confirmed.. it instead uses the UNCONFIRMED mempool transaction fees and how delayed they are of even getting in a block to estimate the fee new transactions should try to push a tx forward

meaning if the fee was high and pools declined to accept transactions below a certain rate, even if it meant doing part filled blocks/empty blocks... users wont be happy.. the more delayed a tx gets the higher fees go.snow ball effect because users wont transact if costs are high and still not getting in. and if pools are demanding high fee it helps no one

your "if onchain transactions go down, this favours users" doesnt play out if users are still paying huge fees which still sitting in mempool

as for the debunked comparison idiots make about visa.. please do get a new song sheet
only idiots use the visa song as a reason to suggest bitcoin shouldnt scale at all unless its to those extremes.. which isnt even scaling.. its exaggeratingly leaping.. and debunks itself to use leaping song to avoid scaling discussion/options

and you then go extreme the opposite about not scaling to then say it wont be secure and your other illogical fallacies...
you have been trained very (un)well to only assume the two options are do nothing or exaggerate to a huge leaping massive size