Re: [bitcoin-dev] Răspuns: Personal opinion on the fee market from a worried local trader

On Fri, Jul 31, 2015 at 11:56 AM, Thomas Zander via bitcoin-dev wrote: > On Friday 31. July 2015 03.21.07 Jorge Timón via bitcoin-dev wrote: >> If I was a miner and you want me to include your transaction for free, >> you're asking me to give you money > > What? > > Ask yourself; why do miners inc

Re: [bitcoin-dev] Răspuns: Personal opinion on the fee market from a worried local trader

> On 31 Jul 2015, at 11:56, Thomas Zander via bitcoin-dev > wrote: > > On Friday 31. July 2015 03.21.07 Jorge Timón via bitcoin-dev wrote: >> If I was a miner and you want me to include your transaction for free, >> you're asking me to give you money > > What? > > Ask yourself; why do miners

Re: [bitcoin-dev] Răspuns: Personal opinion on the fee market from a worried local trader

On Friday 31. July 2015 03.21.07 Jorge Timón via bitcoin-dev wrote: > If I was a miner and you want me to include your transaction for free, > you're asking me to give you money What? Ask yourself; why do miners include transactions at all? What it the incentive if there really is only less than

Re: [bitcoin-dev] Răspuns: Personal opinion on the fee market from a worried local trader

I'm re-reading and I have many spelling errors, sorry. On Fri, Jul 31, 2015 at 3:21 AM, Jorge Timón wrote: > On Thu, Jul 30, 2015 at 10:53 PM, Tom Harding wrote: >> On 7/30/2015 11:14 AM, Jorge Timón wrote: >>> The blocksize limit (your "production quota") is necessary for >>> decentralization,

Re: [bitcoin-dev] Răspuns: Personal opinion on the fee market from a worried local trader

On Thu, Jul 30, 2015 at 10:53 PM, Tom Harding wrote: > On 7/30/2015 11:14 AM, Jorge Timón wrote: >> The blocksize limit (your "production quota") is necessary for >> decentralization, not for having a functioning fee market. > >> If we can agree that hitting the limit will JUST cause higher fees a

Re: [bitcoin-dev] Răspuns: Personal opinion on the fee market from a worried local trader

On 7/30/2015 11:14 AM, Jorge Timón wrote: > The blocksize limit (your "production quota") is necessary for > decentralization, not for having a functioning fee market. > If we can agree that hitting the limit will JUST cause higher fees and > not bitcoin to fail, puppies to die or the sky to turn

Re: [bitcoin-dev] Răspuns: Personal opinion on the fee market from a worried local trader

s/all that special-case/s/all that special-case policy code for free transactions/ ___ bitcoin-dev mailing list bitcoin-dev@lists.linuxfoundation.org https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev

Re: [bitcoin-dev] Răspuns: Personal opinion on the fee market from a worried local trader

On Thu, Jul 30, 2015 at 3:14 PM, Tom Harding via bitcoin-dev wrote: > On 7/29/2015 9:48 PM, Ryan Butler via bitcoin-dev wrote: > ... more evidence that conclusively refutes the conjecture that a > production quota is necessary for a "functioning fee market." A > production quota merely pushes up

Re: [bitcoin-dev] Răspuns: Personal opinion on the fee market from a worried local trader

Yes. So far, the transaction count factor has completely dominated the per-tx fee factor. This fact should be of great interest to miners. On 7/30/2015 7:25 AM, Dave Hudson wrote: > >> On 30 Jul 2015, at 06:14, Tom Harding via bitcoin-dev >> > > wr

Re: [bitcoin-dev] Răspuns: Personal opinion on the fee market from a worried local trader

> On 30 Jul 2015, at 06:14, Tom Harding via bitcoin-dev > wrote: > > Another empirical fact also needs explaining. Why have average fees *as > measured in BTC* risen during the times of highest public interest in > bitcoin? This happened without block size pressure, and it is not an > exchang

Re: [bitcoin-dev] Răspuns: Personal opinion on the fee market from a worried local trader

One thing that the below assumption doesn't appear to take into account is user demand for quick confirmations. I haven't fully thought out the game theory on this but here goes: Example: if 75% of hashing power accepts 'medium' fee transactions while 25% is willing to accept low (or any) fee tran

Re: [bitcoin-dev] Răspuns: Personal opinion on the fee market from a worried local trader

>> >> >> *From:* Vali Zero via bitcoin-dev >> <mailto:bitcoin-dev@lists.linuxfoundation.org> *Sent:* Wednesday, >> July 29, 2015 7:09 AM *To:* >> bitcoin-dev@lists.linuxfoundation.org >> <mailto:bitcoin-dev@lists.linuxfoundation.org> *Subject:* >> [bitc

Re: [bitcoin-dev] Răspuns: Personal opinion on the fee market from a worried local trader

I shouldn't have said unlimited, i should have said a greater blocksize limit such as 8mb. Anyways, why is that the assumption? If a miner can do so, and do so profitably, isn't that just competition? Isn't that what we want? If a miner can mine low transaction fees at a profit then don't they

Re: [bitcoin-dev] Răspuns: Personal opinion on the fee market from a worried local trader

> On Jul 29, 2015, at 8:41 PM, Ryan Butler via bitcoin-dev > wrote: > > Does an unlimited blocksize imply the lack of a fee market? Isn't every > miner able to set their minimum accepted fee or transaction acceptance > algorithm? > Yes, miners can set this, and giving them more fine grain

Re: [bitcoin-dev] Răspuns: Personal opinion on the fee market from a worried local trader

btw the fact that mining is (or can be) anonymous also makes oligopoly or cartel behaviour likely unstable. Miners can break ranks and process transactions others wish to block, or with lower fees than a cartel would like to charge, without detection. Anonymous mining is a feature and helps ensur

Re: [bitcoin-dev] Răspuns: Personal opinion on the fee market from a worried local trader

On 29 July 2015 at 20:41, Ryan Butler via bitcoin-dev wrote: > Does an unlimited blocksize imply the lack of a fee market? Isn't every > miner able to set their minimum accepted fee or transaction acceptance > algorithm? The assumption is that wont work because any miner can break ranks and do s

Re: [bitcoin-dev] Răspuns: Personal opinion on the fee market from a worried local trader

> > Anyone thinking the fee market can be restrained to Bitcoin alone is > > mistaken. > > > > > > *From:* Vali Zero via bitcoin-dev > > <mailto:bitcoin-dev@lists.linuxfoundation.org> > > *Sent:* Wednesday, July 29, 2015 7:09 AM > > *To:* bitcoin-dev@lists

Re: [bitcoin-dev] Răspuns: Personal opinion on the fee market from a worried local trader

mailto:bitcoin-dev@lists.linuxfoundation.org> > *Sent:* Wednesday, July 29, 2015 7:09 AM > *To:* bitcoin-dev@lists.linuxfoundation.org > <mailto:bitcoin-dev@lists.linuxfoundation.org> > *Subject:* [bitcoin-dev] Răspuns: Personal opinion on the fee market > from a worried

Re: [bitcoin-dev] Răspuns: Personal opinion on the fee market from a worried local trader

nesday, July 29, 2015 7:09 AM To: bitcoin-dev@lists.linuxfoundation.org Subject: [bitcoin-dev] Răspuns: Personal opinion on the fee market from a worried local trader I am disappointed that you did not understand my point of view. Let me rephrase it for you, People tipping, buying 0.99$ produc

[bitcoin-dev] Răspuns: Personal opinion on the fee market from a worried local trader

I am disappointed that you did not understand my point of view. Let me rephrase it for you, People tipping, buying 0.99$ products and gamblers that need Bitcoin transactions *more* than the rest of the people will afford the fees that establish the equilibrium between demand and supply of Bitco