{"type":"rich","version":"1.0","author_name":"npub1s4lj77xuzcu7wy04afcr487f0r3za0f8n2775xrpkld2sv639mjqsd44kw","author_url":"https://nostr.ae/npub1s4lj77xuzcu7wy04afcr487f0r3za0f8n2775xrpkld2sv639mjqsd44kw","provider_name":"njump","provider_url":"https://nostr.ae","html":"📅 Original date posted:2015-08-07\n📝 Original message:Popping this into it's own thread:\n\nJorge asked:\n\n\u003e \u003e\u003e 1) If \"not now\", when will it be a good time to let the \"market\n\u003e \u003e\u003e minimum fee for miners to mine a transaction\" rise above zero?\n\u003e\n\nI answered:\n\n\n\u003e \u003e 1. If you are willing to wait an infinite amount of time, I think the\n\u003e \u003e minimum fee will always be zero or very close to zero, so I think it's a\n\u003e \u003e silly question.\n\u003e\n\nWhich Jorge misinterpreted to mean that I think there will always be at\nleast one miner willing to mine a transaction for free.\n\nThat's not what I'm thinking. It is just an observation based on the fact\nthat blocks are found at random intervals.\n\nEvery once in a while the network will get lucky and we'll find six blocks\nin ten minutes. If you are deciding what transaction fee to put on your\ntransaction, and you're willing to wait until that\nsix-blocks-in-ten-minutes once-a-week event, submit your transaction with a\nlow fee.\n\nAll the higher-fee transactions waiting to be confirmed will get confirmed\nin the first five blocks and, if miners don't have any floor on the fee\nthey'll accept (they will, but lets pretend they won't) then your\nvery-low-fee transaction will get confirmed.\n\nIn the limit, that logic becomes \"wait an infinite amount of time, pay zero\nfee.\"\n\nSo... I have no idea what the 'market minimum fee' will be, because I have\nno idea how long people will be willing to wait, how many times they'll be\nwilling to retransmit a low-fee transaction that gets evicted from\nmemory-limited memory pools, or how much memory miners will be willing to\ndedicate to storing transactions that won't confirm for a long time because\nthey're waiting for a flurry of blocks to be found.\n\n-- \n--\nGavin Andresen\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20150807/86bfb634/attachment.html\u003e"}