Question I don't have an answer for yet: - How do

Question

Question I don't have an answer for yet: - How do

we know that fees stay low once BCH maxes blocks again? The obvious answer is that we increase blocksize again but that leads to a circular argument. Where's the end?

#bch #bitcoincash #cryptocurrency #english

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30.11.2022

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John Moriarty · Accepted Answer

"Low" is a relative term. For all we know, the free market equilibrium for the cost of on-chain txs will be higher in the future than it is now. But I think the important part is that we don't strangle the chain artificially. That's how we'll keep fees as-low-as-they-can-be. Also worth noting, the "official" blocksize limit is meaningless if miners have incentives to keep blocks smaller than that. Even without any official limit, there is the possibility for a free market equilibrium. https://youtu.be/zwQHovqJGDs

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