Gregory Maxwell [ARCHIVE] on Nostr: 📅 Original date posted:2014-10-05 📝 Original message:On Sun, Oct 5, 2014 at ...
📅 Original date posted:2014-10-05
📝 Original message:On Sun, Oct 5, 2014 at 4:54 PM, Jorge Timón <jtimon at blockstream.io> wrote:
> In any case, it is interesting to think about this things since mining
> subsidies will eventually disappear and then transaction fees will
> ALWAYS be higher than subsidies.
You can imagine that instead of subsidy Bitcoin came with a initial
set of nlocktimed transactions that pay fees, one block at a time, for
each block from the start until the subsidy goes away.
Perhaps that mental model might make it clear why some people think
that the nlocked transactions and the block size being lower than the
instant offered demand (there is always a backlog) are both things
which address the concern of this thread. :)
📝 Original message:On Sun, Oct 5, 2014 at 4:54 PM, Jorge Timón <jtimon at blockstream.io> wrote:
> In any case, it is interesting to think about this things since mining
> subsidies will eventually disappear and then transaction fees will
> ALWAYS be higher than subsidies.
You can imagine that instead of subsidy Bitcoin came with a initial
set of nlocktimed transactions that pay fees, one block at a time, for
each block from the start until the subsidy goes away.
Perhaps that mental model might make it clear why some people think
that the nlocked transactions and the block size being lower than the
instant offered demand (there is always a backlog) are both things
which address the concern of this thread. :)