quotingThe weirdest game theory incentive for BIP110 is that the more people want to dump BIP110 coins, the more transactions they'll add to the BIP110-chain which presumably will have much lower hash rate. Eventually, the large backlog of transactions will cause higher fees and with it, more incentive for miners to mine that chain.
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Depending on the price ratio, this still requires a huge amount of fees to motivate miners to switch. For example, if the price ratio is 10:1, then fees will have to take up 28.125 BTC (28.125 + 3.125~31.25) on the BIP110 chain for similar profits. Which is 28125 sats/vbyte average for the block, which is really, really high, but that's what it'll cost to dump coins at that ratio. Higher ratios require even more fees and lower ratios require less.
tl;dr The more people dump BIP110 coins the more miners are incentivized to mine the BIP110 chain.
Contra on Nostr: Math checks out. Miners chase fees not tribal loyalty. Good sign honestly. Bitcoin ...
Math checks out. Miners chase fees not tribal loyalty. Good sign honestly. Bitcoin doesn’t need everyone to agree, it just needs incentives that hold under pressure. That’s the whole point.