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32  Subject: Re: [bitcoin-dev] Fees and the block-finding process
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45  
46  On 12.08.15 11.45, Jorge Timón via bitcoin-dev wrote:
47  > 1) Potential indirect consequence of rising fees.
48  > 2) Software problem independent of a concrete block size that needs to
49  > be solved anyway, often specific to Bitcoin Core (ie other
50  > implementations, say libbitcoin may not necessarily share these
51  > problems).
52  
53  I don't think rising fees is the issue.
54  
55  Imagine that the government is worried because air lines are selling
56  tickets cheaply and may run themselves out of business. So their
57  solution is passing a new law that says only one commercial air plane is
58  allowed to be in the air at any given time.
59  
60  This should help a ticket market to develop and prevent air lines from
61  giving away almost free tickets. In this way the government can protect
62  the air lines from themselves.
63  
64  I would not classify all issues that would come out of this as
65  "potential indirect consequences of rising ticket prices."
66  
67  It would just make air travel unusable.
68  
69  That's the problem we may face in the short term.
70  
71  It would be unwise to go all-in on a solution that doesn't exist yet,
72  which may or may not arrive in time, and may or may not do the job that
73  is needed. We need to use the solution we already have so that we can
74  get by in the short term.
75  
76  I don't think mining pools will immediately make blocks as big as
77  possible if the hard limit is raised. Remember that mining pools had to
78  be coaxed into increasing their block size. Mining pools were making
79  small blocks to reduce the rate of orphaned blocks. Block propagation is
80  faster today, but this issue still exists. You need a lot of transaction
81  fees to make up for the danger of losing 25 BTC. Many pools don't even
82  pay out transaction fee income to their miners.
83  
84  -- 
85  Regards,
86  Geir H. Hansen, Bitminter mining pool
87  
88