pupa on Nostr: Exactly and the incentives allow them to max their revenue if they behave rationally, ...
Exactly and the incentives allow them to max their revenue if they behave rationally, meaning choosing transactions with higher fees. But now there's a parallel market outside of the protocol that directly competes with financial transactions in which 1 sat is not worth 1 sat anymore: pay a miner in FIAT and they'll mine a full block of JPEGs for you, without any financial transaction because the JPEGer knows they can "resell" each JPEG from that block at a much higher value.
It doesn't break the software, but it changes the incentives for sure, especially if it lasts.
Published at
2023-02-15 19:22:08Event JSON
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"content": "Exactly and the incentives allow them to max their revenue if they behave rationally, meaning choosing transactions with higher fees. But now there's a parallel market outside of the protocol that directly competes with financial transactions in which 1 sat is not worth 1 sat anymore: pay a miner in FIAT and they'll mine a full block of JPEGs for you, without any financial transaction because the JPEGer knows they can \"resell\" each JPEG from that block at a much higher value.\n\nIt doesn't break the software, but it changes the incentives for sure, especially if it lasts.\n",
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