- Mar 13, 2016

- 1,206

- 2,650

There's a balance between driving fees high and driving a high number of low fee TX

bacily if we look at block space as a good miners produce, the pricing of that good is the TX fee.

how do we find the best price?

somthing like this:

I believe we dont need to artificially limit supply, since miners have a real cost to including TXs in blocks in the form of orphan risks

Block limit makes Supply is easily known... 1MB.

Demand can be roughly calculated with avg number of TX bytes to include every 10mins

Miners can calculate the optimal price for a TX fee

Miners

thoughts? am i making any sense?? lol

@Peter R

I often quote your work http://www.bitcoinunlimited.info/resources/feemarket.pdf

I have a 2 questions

1, do you think there will still be a cost to include TXs if thin blocks incress propagation times 100X

2, did you ever plug in some rough numbers into the formula to try and determine what Q* would be ( the free market "max block size" )

bacily if we look at block space as a good miners produce, the pricing of that good is the TX fee.

how do we find the best price?

somthing like this:

I believe we dont need to artificially limit supply, since miners have a real cost to including TXs in blocks in the form of orphan risks

Block limit makes Supply is easily known... 1MB.

Demand can be roughly calculated with avg number of TX bytes to include every 10mins

Miners can calculate the optimal price for a TX fee

Miners

**should**choose to not sell block space for much less than this optimal price.thoughts? am i making any sense?? lol

@Peter R

I often quote your work http://www.bitcoinunlimited.info/resources/feemarket.pdf

I have a 2 questions

1, do you think there will still be a cost to include TXs if thin blocks incress propagation times 100X

2, did you ever plug in some rough numbers into the formula to try and determine what Q* would be ( the free market "max block size" )

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