5 ms·

...because every user knows the satoshis/byte ratio of their transaction, right? And even if they did, we'd even up with a backlog of the same transactions, al

...because every user knows the satoshis/byte ratio of their transaction, right? And even if they did, we'd even up with a backlog of the same transactions, all paying higher fees. Bitcoin is barely managing 2 transactions/second at the moment, higher fees won't speed this up.

ereli1 10y ago
if the fee would be higher on average, do you think that'll attract CPU power from other cryptocurrencies networks?
- joosters 10y ago
  No, the fees are still insignificant compared to the block reward.
- palunon 10y ago
  Even if that did, the difficulty would increase and you'd get the same number of transaction/second
Taek 10y ago
The wallet should handle this for you. No reason that the user should ever realize that there's a Satish/byte ratio. Imagine instead: "Bitcoin Surge! It's currently 25 cents per transaction to use Bitcoin."