Author: Tom Harding 2017-03-31 01:13:35
Published on: 2017-03-31T01:13:35+00:00
In a message exchange between David Vorick and Tom Harding on the bitcoin-dev mailing list, Harding expressed concerns over the effects of rising fees on small miners. He argued that small miners use pools for smaller and more frequent payments, which rising fees will make less feasible, potentially causing them to give up mining altogether. In response, Vorick pointed out that miners get paid once every ten minutes, regardless of the size or number of fee transactions. He also stated that fees are not yet high enough to block home users from using the network, and that it would be unwise to sacrifice the core innovation of monetary sovereignty in order to support a small fraction of daily transactions. However, he acknowledged that rising fees could lead to unintended consequences, such as increased miner centralization and fewer full nodes.
Updated on: 2023-06-11T23:04:17.028928+00:00