Author: Vladimir Zaytsev 2017-03-31 02:26:31
Published on: 2017-03-31T02:26:31+00:00
The conversation starts with a question about whether there can be a minimum amount to put up for mining. Jared Lee Richardson responds by saying that it would be blockchain sharding and expresses doubt about whether it is possible to do it trustlessly, due to potential conflicts between shards and transaction commitments. Vladimir Zaytsev suggests organizing "branches" of smaller activity to join the main tree after they grow. Jared Lee Richardson then explains that fees are not high enough to block home users from using the network, but this depends on the use case. He predicts that transaction fees above $1 per transaction will become unappealing for many consumers. Without block size increases, fees higher than $1/tx are inevitable, most likely before 2020. If we were going to favor node operational costs that highly in the weighting, we'd better have a pretty solid justification with mathematical models or examples. Finally, he argues that if we can easily have both monetary sovereignty and support for daily transactions, why not have both? An altcoin with both will take Bitcoin's monetary sovereignty crown by default.
Updated on: 2023-06-11T23:05:14.808299+00:00