rich1.0npub1sa86gng3pvs3jgyt5majwcrhn8ck5qxgy9pjqxkh79u638cd7dys28y304https://nostr.ae/npub1sa86gng3pvs3jgyt5majwcrhn8ck5qxgy9pjqxkh79u638cd7dys28y304njumphttps://nostr.ae📅 Original date posted:2015-08-13 📝 Original message:> On Aug 13, 2015, at 2:52 AM, Ashley Holman via bitcoin-dev <bitcoin-dev at lists.linuxfoundation.org> wrote: > > A concern I have is about security (hash rate) as a function of block size. > > I am assuming that hash rate is correlated with revenue from mining. > > Total revenue from fees as a function of block size should be a curve. On one extreme of the curve, if blocks are too big, fee revenue tends towards 0 as there is no competition for block space. This isn’t necessarily true. Every miner has its own mining policy. If they choose to delay including transactions proportional to their fee + first seen, then you create a time based fee market. Want quick confirmation? Pay a high fee. Don’t care that much? Pay a low fee (and anywhere in between). This market would work just fine even if block capacity was unbounded. jp -------------- next part -------------- A non-text attachment was scrubbed... Name: signature.asc Type: application/pgp-signature Size: 842 bytes Desc: Message signed with OpenPGP using GPGMail URL: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20150813/9b9afe12/attachment.sig>