Money and State
Money and State
"Give me control of a nation's money, and I care not who makes its laws."

Posts tagged "scaling"

Thoughts on SegWit2MB

On March 31, Sergio Lerner and the RootStock team proposed “SegWit2MB” to the Bitcoin Core mailing list. The basics of the proposal... 95% miner support required for consensus Upon consensus: SegWit is immediately activated 2MB hardfork countdown begins (to occur Dec 14, 2017). SegWit is Bitcoin Core’s version (soft fork). The 2MB hardfork aspect is BIP 102, as coded by Jeff Garzik. Stated plainly, SegWit2MB is a combination of SegWit and...

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The Parable of Alpha – A Lesson in Network-Effect Game Theory

This is a followup to my recent post on the True Cost of Bitcoin Transactions. A legion of Twitter trolls has been yelling at me, proclaiming that “since people are willing to pay higher prices, that proves Bitcoin’s value is growing.” This is actually a common sentiment among those who believe that blocks filling up is “no big deal.” As space gets tight, the argument goes, the transaction fees rise...

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The True Cost of Bitcoin Transactions

It seems the Bitcoin community is not correctly tallying the true cost of Bitcoin transactions. The belief is that Cost = Miner Fee. We’ll show why this is wrong, but the fee is of course part of the cost, so let’s examine it first… Fees are currently averaging in the range of $0.30 to $1.00 per transaction. Here’s an anecdotal sample as I’m writing this: Block #451871   $1,287 in fees...

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