[bitcoin-dev] Why Satoshi's temporary anti-spam measure isn'ttemporary
jtimon at jtimon.cc
Thu Jul 30 15:41:30 UTC 2015
On Thu, Jul 30, 2015 at 4:52 PM, Thomas Zander via bitcoin-dev
<bitcoin-dev at lists.linuxfoundation.org> wrote:
> On Thursday 30. July 2015 11.38.00 Jorge Timón via bitcoin-dev wrote:
>> It is important ro note that even if lightning was never developed, the
>> block size remains at 1 MB forever and fees rise to 10 usd per transaction,
>> such "high fees" are still extremely competitive with non-decentralized
>> payment systems that have proportional fees.
> What makes you think that when there is such a low availability of transaction
> space that paying to be included costs you $10, that Bitcoin is not going to
> be outcompeted and replaced or otherwise regarded as worthless?
I'm just saying that rational economic actors will prefer to pay 10
usd over 11 usd in fees.
My example was: 10 usd flat fee vs 1% fee (both numbers pulled out of a hat).
Well, 10 usd fees is cheaper than 1% fees for any transacted amount
greater than 1000 usd.
Take into account that this is just an extreme example to make my
point: hopefully fees will never rise to a value as high as 10 usd.
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