This is the first time I post on this list.
First of all, Thank you Jameson for the interview you gave yesterday, it’s been
a model of calm and self-control for all of us.
I deeply believe the high average fees we experience right now are mostly due
to the miscalculations of most of the hardware (ledger & trezor) wallets (and
probably software too) on the market.
I personally made transactions at the worst period for the Blockchain with less
than 40 sat/WU of fees and got confirmed in less than a day.
I think there’s a lot of work to do in used education to make them understand
that for a low amount of fees they can still get a transaction confirmed and
that’s the POS’ work to make sure the transaction is legit.
> On 21 Dec 2017, at 23:02, Jameson Lopp via bitcoin-dev
> <firstname.lastname@example.org> wrote:
> I'd hope that the incentives are in place to encourage high volume senders to
> be more efficient in their use of block space by batching transactions and
> implementing SegWit, though this may not be the case for providers that pass
> transaction fees along to their users.
> We've been trying to be more proactive about outreach regarding efficient use
> of block space to our own customers at BitGo - when we break down the cost
> savings of implementing a new technique, it generally helps to hasten their
> adoption. I suspect that in many cases this is an issue of education - we
> should be more proactive in calling out inefficient uses of block space.
> Good resources to bookmark and share:
> - Jameson
> On Thu, Dec 21, 2017 at 4:30 PM, Melvin Carvalho via bitcoin-dev
> <mailto:email@example.com>> wrote:
> I asked adam back at hcpp how the block chain would be secured in the long
> term, once the reward goes away. The base idea has always been that fees
> would replace the block reward.
> At that time fees were approximately 10% of the block reward, but have now
> reached 45%, with 50% potentially being crossed soon
> https://fork.lol/reward/feepct <https://fork.lol/reward/feepct>
> While this bodes well for the long term security of the coin, I think there
> is some legitimate concern that the fee per tx is prohibitive for some use
> cases, at this point in the adoption curve.
> Observations of segwit adoption show around 10% at this point
> http://segwit.party/charts/ <http://segwit.party/charts/>
> Watching the mempool shows that the congestion is at a peak, though it's
> quite possible this will come down over the long weekend. I wonder if this
> is of concern to some.
> I thought these data points may be of interest and are mainly FYI. Though if
> further discussion is deemed appropriate, it would be interesting to hear
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