A summary list of all concerns related to not rising the block size



Summary:

In an email dated August 12, 2015, Jorge Timón shared concerns regarding the potential indirect consequences of rising fees. In response, a suggestion was made to rephrase the issue as "Consequences of high fees", emphasizing that the level of fees is the main issue rather than their movement. High fees can reduce the utility of people using the network and make some use cases nonviable, depriving people of Bitcoin's decentralized benefits. The increase in fees also makes level 2 infrastructure like Lightning less valuable and discourages experimentation with new Bitcoin use cases. Furthermore, high fees can make Bitcoin more vulnerable to regulation by keeping its user base from growing. By slowing usage growth, it is less likely that there will be a large enough base of transactions by the time the network requires funding via transaction fees.


Updated on: 2023-06-10T19:13:20.346487+00:00