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The miners shot down the four proposals to increase block size, even the tiny 2MB increase. Increased competition to get in on the smaller blocks leads to larg
by bduerst 11y ago
The miners shot down the four proposals to increase block size, even the tiny 2MB increase.
Increased competition to get in on the smaller blocks leads to larger transaction fees. Miners benefit from people competing to have their transactions hashed in the next block.
If the userbase scales, the competition goes up and transaction fees go higher. If everyone could get their transactions through on a larger block, they're going to pay almost no fee and miner's make less.