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Those are the technical questions. The big picture economic question is, how does bitcoin mining transition from block reward revenue to transaction fee revenue
by PierreRochard 11y ago
Those are the technical questions. The big picture economic question is, how does bitcoin mining transition from block reward revenue to transaction fee revenue ( see http://nakamotoinstitute.org/bitcoin/#selection-185.5-185.396 http://nakamotoinstitute.org/bitcoin/#selection-185.5-185.39... ).
Discussion with Gavin on this subject here: http://bitstein.org/blog/pierre-rochard-and-gavin-andresen-discuss-the-block-size-limit/ http://bitstein.org/blog/pierre-rochard-and-gavin-andresen-d...
- nosuchthing 11y agoThe greater issue of BTC is the odds between hording speculators who "believe" the "rarity" of Bitcoin will increase the market price. Currency should be predictably stable as a medium to facilitate exchange of other goods and services. Currency should also be encouraged to recirculate back into the economy, rather than sit around doing nothing. There's also a huge issue of people dedicating effort to form price manipulator syndicates and HFT bots within the cryptocoin communities [1] [1] https://news.ycombinator.com/item?id=7126153 https://news.ycombinator.com/item?id=7126153