Author: Erik Aronesty 2022-07-08 15:14:39
Published on: 2022-07-08T15:14:39+00:00
Eric Voskuil and another person were discussing the relationship between confirmation rates, fees, and security in Bitcoin transactions. They debated whether lower confirmation rates lead to higher fees or better security. The other person argued that market pricing dictates what people will pay for a good and that infinite block sizes would lead to lower fees. However, Eric provided examples of how constrained block sizes led to higher total fees in history. He also pointed out that if miners are not profitable at a certain fee level, then they will not mine, leading to reduced security. Eric suggested caution with block-compressing technology and more aggressive use of fee-driving technology instead of inflation as a solution.
Updated on: 2023-06-15T21:21:23.751823+00:00