Author: Jeff Garzik 2015-12-16 22:09:58
Published on: 2015-12-16T22:09:58+00:00
The discussion is about SW presenting a blended price and basket of two goods, which are separate resources used by different sets of economic actors with incentives to shift actors from using one resource to both. This proves that it is a basket of goods, not a single good. The miners' best strategy is to accept witness transactions as it allows 9090 transactions rather than 5000. The optimal fee maximizing strategy is always to maximize fee per virtual size but externalities and long term incentives can perturb or invalidate that line of thinking. Many miners are happy with low fees to encourage the long term growth of their bitcoin income through network effect growth.
Updated on: 2023-06-11T02:13:59.643581+00:00