Author: Jeff Garzik 2015-07-22 18:01:53
Published on: 2015-07-22T18:01:53+00:00
The author of the context is cautioning against interpreting their points as advocating for a fee market never to develop. They acknowledge that fees are useful against DoS and increasing the cost of attack, but they argue that continuing an artificially-low fee policy is unsustainable and constitutes a moral hazard. The author urges those who want to develop a fee market to consider it from the user's point of view, taking into account how software is written, user behavior, market disruption, and further block size increases. The author stresses the importance of planning a transition to a new economic policy, allowing users and markets time to adjust. They assert that it would be grossly irresponsible to simply drop users into a new economic policy without warning or preparation.
Updated on: 2023-06-10T03:09:46.015660+00:00