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We're still quite off from $0.30, though. At the peak of the recent transaction flood attack, you only had to pay $0.06 (60 satoshis/byte for a 250 byte tx) for
by nadaviv 11y ago
We're still quite off from $0.30, though. At the peak of the recent transaction flood attack, you only had to pay $0.06 (60 satoshis/byte for a 250 byte tx) for a 90% chance to get including in the upcoming block. Now, that the attack has somewhat calmed down, we're down to the $0.04-$0.05 range, and will probably continue going down over time.
> as it doesn't appear to be for Bitcoin Core
Source?
Core has shown a very promising roadmap for scaling the bitcoin network. This includes SegWit, which gives us a 170%-400% capacity bump without requiring a network-wide upgrade (at the risk of splitting the payment network and currency in two if everyone doesn't upgrade in time), work on IBLT/weakblocks to improve network propagation times and bandwidth usage, and research on compressing data more efficiently [0]. Several of the Bitcoin Core members have also committed to working on an hard-fork to raise the block size [1], propose it to the development community and try to build consensus around that.
In addition to that, Blockstream, which was founded by a few of the core developers, is funding work on Lighting Network, a write-cache for bitcoin transactions based on payment channels, which would allow for scalable, instant, nano, near-free payments.
[0] https://bitcointalk.org/index.php?topic=1377298.0 https://bitcointalk.org/index.php?topic=1377298.0
[1] https://medium.com/@bitcoinroundtable/bitcoin-roundtable-consensus-266d475a61ff https://medium.com/@bitcoinroundtable/bitcoin-roundtable-con...
- schmichael 11y ago> Source? I was making an inference but one it seems Gavin Andresen agrees with: "Over the last year of trying, and failing, to reach a reasonable compromise, it has become clear to me that some developers don’t want any on-chain scaling solution any time soon. [goes on to reference Lightning]" http://gavinandresen.ninja/satoshi-roundtable-thoughts http://gavinandresen.ninja/satoshi-roundtable-thoughts