Author: t. khan 2016-12-11 22:30:34
Published on: 2016-12-11T22:30:34+00:00
The conversation revolves around the proposed Block75 and its impact on transaction fees. The assumption that there is an infinite number of low-fee transactions is incorrect, as the average fee will balance itself between demand and the minimum fee miners are willing to accept. James Hilliard explains that there will always be transactions available to mine as demand for blockspace is effectively unbounded as fees approach 0. Nodes generally have a static mempool size and dynamic minrelaytxfee so as transactions get mined lower fee transactions get accepted into the mempool. He adds that an individual opting not to send a transaction would not make the blocks smaller as there would always be other transactions available. Meanwhile, t.k. suggests that users could stop miners from increasing block size continuously by not sending transactions.
Updated on: 2023-06-11T20:51:26.557136+00:00