Author: Benjamin 2015-10-27 09:46:45
Published on: 2015-10-27T09:46:45+00:00
In this discussion, the idea of using a market to determine Bitcoin's capacity is proposed. The argument is that if Bitcoin had a market, users could work out the numbers and capacity would be set by demand triggering supply. It is suggested that fixing this in code would lead to bad results and that there is no sensible algorithm to determine prices without market input. The concept of variable fees based on transaction size is also introduced. Bitcoin should handle both large nominal volumes with low transaction volumes and low nominal values with high transaction volumes. Therefore, considering the BTC amount transferred per bytes is important for Bitcoin's capacity. A member of the Lightning-dev mailing list brings up the point that Bitcoin and Lightning transactions are not completely independent due to anchor transactions. While this is a valid assumption, it is suggested that it should be explicitly stated.
Updated on: 2023-05-23T21:26:14.952335+00:00