[bitcoin-dev] Răspuns: Personal opinion on the fee market from a worried local trader

Tom Harding tomh at thinlink.com
Thu Jul 30 20:53:36 UTC 2015

On 7/30/2015 11:14 AM, Jorge Timón wrote:
> The blocksize limit (your "production quota") is necessary for
> decentralization, not for having a functioning fee market.

> If we can agree that hitting the limit will JUST cause higher fees and
> not bitcoin to fail, puppies to die or the sky to turn purple I think
> that's a great step forward in this debate.

It's interesting how people see things differently.  I think your first
statement above represents a great step forward in the debate.  Unlike
Adam Back, you state that a block size limit is not necessary to create
a functioning fee market.

As to your second statement, unfortunately for immediate harmonious
relations, I was merely separating out the elevated fee market concern,
not at all saying it is the only or even the biggest concern with
limited capacity.  Alan Reiner, Ryan X. Charles and others have
eloquently explained how restrictive a 1MB limit is, even with "layer 2".

What's missing from the decentralization dialog is a quantitative
measure of decentralization.

Why not slam users with higher fees now, if we accept that they may be
necessary someday? For the same reasons you don't ask a child, age 5, to
work in a factory.

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