Author: Peter Todd 2022-07-03 09:43:53
Published on: 2022-07-03T09:43:53+00:00
In a recent discussion on the bitcoin-dev mailing list, the idea of having a balance of fees for UTXOs (unspent transaction outputs) was brought up. While some agreed that it would be technically and economically optimal, others argued that it could have unintended negative consequences, such as convincing the bitcoin community that inflation is acceptable and causing economic distortion. One suggestion was to consider the concept of decaying UTXO value, but this wouldn't solve the issue of monetary devaluation caused by inflation. The discussion also touched on the fact that pool operators are free to request larger fees from older or newer UTXOs, or all UTXOs, as they see fit. However, this policy could lead to pool centralization if operators collude. A healthy Bitcoin ecosystem would ideally have some pool operators defecting and mining transactions for market-based fees, eventually forcing discriminatory premium-charging operators to give up.
Updated on: 2023-05-22T20:37:09.900492+00:00