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With no RBF how will you prevent TX's from getting stuck in a high fee environment? I know BCH thinks block space should be unlimited which means TX fees will n
by doomroot 5y ago
With no RBF how will you prevent TX's from getting stuck in a high fee environment? I know BCH thinks block space should be unlimited which means TX fees will never get high but i don't think the economics works out there.
- freeAgent 5y agoMiners can set their acceptable minimum fee levels and orphan the blocks of miners who accept transactions with fees that they think are too low. This is essentially cartel behavior with an incredibly strong enforcement mechanism. There should never be a “high fee environment” due to an artificially low block size cap.
- doomroot 5y agoAnd why can't miners do this on BCH?
- freeAgent 5y agoThat’s the point. They can. Are you reading this as me thinking the collusion on minimum fee levels between miners being a bad outcome? I think it’s going to become necessary as the block reward goes to zero, and therefore it’s necessary and good for the system. It’s nice that Bitcoin (including BCH in “Bitcoin”) has a the block orphaning mechanism for enforcing cooperation in this manner. It’s much stronger than enforcement mechanisms available to cartels such as OPEC.