I have a good comparison question? Why do we even

Question

I have a good comparison question? Why do we even

charge fees at all, or anything past 1 sat/byte? When bch and btc only bring in $150k and $450k

Full Block Fees $0.01 BCH vs $1.50 BTC
BCH $150k txs/fees/day, $45m block reward/day
BTC $450k txs/fees/day, $25m block reward/day

#bch #bitcoincash #cryptocurrency #english

0

18.07.2023

5 ответов

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bitcoincashautist

we don't "charge" anything past 1sat/byte, but there are natural limits to how big blocks miners could mine with everyone paying 1sat/byte - once their orphan rates get to where it's not worth it, they will self-limit the sizes, and if there's still demand for TXes then users will start bidding more to prioritize their TX, and avg fees will go slightly up - but then also miners could afford to mine a little bigger, and it finds equilibrium

0

18.07.2023

Dustin 🪐

Rowan Skye
it's a security feature basically. iirc from readi...

Satoshi was long gone before free transactions using coindays destroyed were removed, and fees were a thing all along outside of that small batch of allowed-to-be-free transactions (for which you could also offer a fee if you so desired). I have personally made free high priority transactions, but I wasn’t on the scene until after Satoshi had left. This isn’t to say that Satoshi would have insisted on keeping them or that we should have them, just that Satoshi didn’t remove the feature.

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18.07.2023

bitcoincashautist

Rowan Skye
it's a security feature basically. iirc from readi...

the idea of fees is that a TX pays for it's own security - all fees are payment for hashes; they're not payment for putting the TX in a block - they're a payment for securing the TX with a few more hashes, and when everyone's payments aggregate, they all together become more secure in the block they end up in each TX you make is also a transaction with a miner: you're chipping in and paying for few hashes. Of course miners would add _their own_ TX in a block :)

0

18.07.2023

Tom

bitcoincashautist
the idea of fees is that a TX pays for it's own se...

I'd argue that your version is definitely over simplifying fees and their role. The main gist of my issue is that Core evolved fees to be something that corrupts the system from within. And I think we're going to have to re-evaluate it from first principles in the medium term in order to keep our system healthy.

0

18.07.2023

Rowan Skye · Accepted Answer

Rowan Skye

it's a security feature basically. iirc from reading history we used to have free transactions, using coindays destroyed, then Satoshi added fees for anti-spam

0

18.07.2023

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