Author: Thomas Zander 2015-08-10 22:09:14
Published on: 2015-08-10T22:09:14+00:00
Jorge Timón wrote on bitcoin-dev mailing list about his confusion regarding the reliability of transactions with high fees versus low fees. He claimed that transactions with high fees will always confirm reliably, even if transaction capacity never increases. The actual fee is irrelevant; the amount of transactions is relevant.To explain this, he used an analogy of a concert where people are trying to leave and there is not enough shuttle transportation available. Regardless of how much people pay for their ride, there is still more demand than there is capacity, leading to long waiting times. The same applies to Bitcoin transactions; it is not unreliable only for cheap fee transactions, but for all types of transactions due to the limited capacity.In conclusion, Jorge Timón believes that the queues for transactions will never stop, making it unreliable for all types of transactions.
Updated on: 2023-06-10T18:27:25.138560+00:00