Author: Gregory Maxwell 2017-09-30 00:47:54
Published on: 2017-09-30T00:47:54+00:00
In a Bitcoin-dev thread, Daniele Pinna raised a concern that paying the maximum fee could clog the network if miners were incentivized to include only that transaction. PT explained that delaying a transaction by paying more than it offered was nothing new or interesting; however, it is expensive as the outbidding party has to pay for each delay while the successful parties pay once. The monopoly price model can be better as it doesn't bloat the chain, but it can also be harder to do by accident. To bypass this issue, miners and users can arrange out-of-band payments or coinjoin rebates, which would be in their best interest and could lead to centralization.
Updated on: 2023-05-20T04:06:14.019482+00:00