[bitcoin-dev] Bitcoin Core and hard forks
jgarzik at gmail.com
Wed Jul 22 18:01:53 UTC 2015
Please do not interpret - as many have - my points as advocating against
letting a fee market ever develop(!).
Fees are useful against DoS, increasing cost of attack etc. Further,
continuing the artificially-low fee policy ad infinitum is unsustainable
and constitutes a moral hazard.
Examine from the user's point of view. If you want to develop a fee
market, think it through in the context of user expectation/experience -
which translates to how software is written and users behave, the context
of market disruption, and the context of further block size increases.
Transition to a new economic policy should be planned. It should give
users and markets time to adjust.
It is grossly irresponsible to simply drop users into a new economic policy
with no warning and no preparation.
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