Wednesday 24 February 2016

Bitcoin holders are currently paying miners not to raise fees.

Currently, all bitcoin holders are paying miners via subsidy/inflation for the security of the network, so that we get the most secure blockchain, without them having to raise fees.

One could argue that this aligns with the interest of bitcoin holders as low fees onboard more users, thus making bitcoin exponentially more useful through the network effect and consequentially more valuable.

Yet, core developers want to see a fee market emerge ASAP. Because we may actually need it in 10+ years?

If core argues technically against a blocklimit increase, I'm on their side if push comes to shove. But this doesn't make sense to me.

There's a reason companies offer 30 day free trials of their product. Or that my ISP charges a lower price in the first year for new customers. Bitcoin is only useful if people use it. We need to acquire more users.



Submitted February 24, 2016 at 02:09PM by supermari0 http://bit.ly/1PYG1v6

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