This will backfire and will simply make things worse.

If you have 1 million transactions in the mempool there is no way for them to be confirmed in a shorter time, what this "solution" would do is simply reduce the space available by allowing spammers to occupy parts of the block space with low 1 sat/b fee, with just a few hundred dollars you can fill a block and normal users would have to compete again between themselves on a smaller part of the block cause a spammer is taking advantage of it.
Besides, let's assume somebody will want to attack the network like this, as I posted in another topic, it will take a guy less than 10 BTC to fill one week of tx, how will this solution that will confirm the cheapest spam attack solve anything?


Nobody stops anyone to buy hardware, power them up and pointing them to a community mining pool that only builds blocks with fees under 5 sat/b.
Oh wait, there is something, called $.The same $ you don't want to pay in the first place! See the problem?


That's not how mining works, you can have everyone on this planet hosting a 1GW mining farm in his basement, and you will still have 144 blocks a day.

Do you really want to find out how many flops Oak Ridge has in their basement?
Attacking a CPU-minable coin would be a thousand times easier for someone with deep enough pockets, there is enough computational power standing instantly in datacenters no home miners will be able to offset!


So, let's assume you have 10 s19, the current brand-new value is $900 a piece, each mine $6.3 a day before electricity so that would be at around $1800 a month for all of them, and the banks come in and offer you 50k for all of them. Tell me without lying you won't be selling!


So banks are the middlemen to billions of deals, that negotiate mergers of companies worth billions, that have all the information at their disposal, that have already business relationships with every single major power supplier will somehow have trouble finding 10-20 GW of power, but companies who are not even in top 1000 in the US by revenue have no problem buying a **** nuclear powerplant!

I love this kind of flip-flop, one time we have banks controlling every single aspect of the economy, having absolutely everything in their clutches and then we have them unable to operate a damn datacenter that is 1/10 of what google has. Isn't this a bit ridiculous? A bit too much?

How can I misunderstand this?



It's not my quote and you couldn't have answered any of my posts since that one was my first post in the topic.  


Worse than the Bitcoin Foundation fiasco? Doubt it!
Besides, there is a huge difference between one hundred people showing their proposals and 1 million voting for what they think is the best one and one guy telling others how things will be done. This is the thing with decentralization, there is no official spokesperson, and the community decides who the best spokesperson is by following him and agreeing with his choices. Any other "solution" is just reverting to a centralized dictatorial system.


Sorry, but you missed the second point.
Banning monkeys or orcs 20 or borgs 40 or whatever won't help the people of Salvador if every of the 100 million Indians that supposedly own Bitcoin would decide to make a tx.  Even if 10% of the people in Salvador will make one onchain tx per day it will be enough just for them to clog the network. Bitcoin needs to scale, that's it! It doesn't get any more simple than this.

Copy-paste, like, retweet, copy-paste, upvote, subscribe, copy-paste.
Imagine what's happening there if they have a problem not being able to find "quality" workers for this task.


Neither, he's a baunty manager! As I was saying above, oh god!


I'm pretty sure the moderators will also request that you first read the forum rules and what moderators do here.

It doesn't work like this, if this entity has total control over 300Exahash and your loyal miners have 10 they can fuck around with your chain like they please invalidating half a day of transactions every day, mining hundreds of blocks ahead of you, raising he difficulty 30 times, and then stop mining so you will get a block every 5 hours and so on!

To buy all the coins it's impossible as simply some will not sell, but mining is a business, if they want to secretly build millions of ASICS and run them on subsidized electricity so they would push honest miners out of business there is little stopping them other than some other entity doing the same. But the question is, why would they do this in the first place?


I have like zero idea what you're talking about!

No, the differences are the other way around
- Salvado has the law but when it comes to actual energy is all a lie
- Bhutan has no favorable laws but it still managed to attract a mining fam cause it has cheap energy for real
But for other kinds of investors, it's for both a flat line!


I got used to Bukele promises, he's a populist and nothing else, as soon as Bitcoin ended a bear season he reduced his interest in it by 90%.
Remember his dip buys?


Japan, Australia, Bolivia, etc 

You have to declare every single penny you have in case of a divorce, and things like having half a million $ in safekeeping from somebody won't fly with any judge. You will simply have to return them and your mother will get a nice call from the IRS about half a million she never mentioned din her taxes.


Previously undisclosed.
From the court's point of view, it doesn't even matter if he has the wallet anymore, if those coins have been traced living his main disclosed wallet and he has no statement or filling of selling those it means the coins are his and the current value of those will be added, he can keep the coins, he can split it, he can even burn his keys, he will still have to pay half of it.


Bruh, the law doesn't give a damn about the technical stuff of multi sig wallets or anything like this.
Those 12 BTC are counted as value, just like that, do you think couples will split diamonds and jewelry and cars in half at a divorce?


No, the law is not pushing anyone to send half of the coins.
The law is demanding that both of them present all their assets for the divorce, and split the value, it might be possible that nobody will want the BTC so they will get sold and each of them will receive half all whatever. Also, just because the lawyer can't subpoena a financial institution in another jurisdiction it doesn't mean the court can't force both of them to disclose their assets hold there.

And when we finally have some nice thing happen there must be some writer for some newspaper exaggerating everything.

The whole thing is pretty easy:
- Bhutan has enough free energy that goes to waste since it can't export it
- Bitdeer comes in, sets up a datacenter, and brings in a few thousand machines that will run 24/7 and suck that energy but now paying for it
- Bhutan gets cash for what it has previously thrown away and Bitdeer gets profits from mining with cheap energy

But! This doesn't mean a single other thing.
Why would an investor come to Bhutan just because there is a data center there?
Why are there no institutional investors rushing to Salvador when we had the same hype about it?
https://twitter.com/nayibbukele/status/1402714926800674827

Why can't we have news, just news without sensationalism?

Oh really?
And I'm sure with your infinite knowledge you can give a ton of examples where mining pools keep the fees, right?
Oh, and please don't quote Wikipedia unless you want to make a fool of yourself as the info out here is last century old!

Actually, let me make this easier for you:
https://support.antpool.com/hc/en-us/articles/5983010227993-Miners-Settings-Fees
https://f2pool.zendesk.com/hc/en-us/articles/360061042332-PPS-PPLNS-PPS-and-FPPS
https://www.binance.com/en/support/faq/how-to-calculate-mining-earnings-360040955392
https://support.viabtc.com/hc/en-us/articles/900001529626-How-are-profits-calculated-
https://help.braiins.com/en/support/solutions/articles/77000426262?_ga=2.1694257.1079338613.1660209602-111809037.1657870635


You should read it again.
The greedy algorithm doesn't apply here because the miners don't choose a path, so they don't pick up a block with high fees that would be followed by a block with smaller fees while the other path starting with a low fee block would have been followed by a billion blocks of high fees.
It's not a path game, it's a linear choice.


Again, let's assume age would be a factor, some users could spend $300 with 1sat/b tx and fill a full block, or some attacker might decide to just throw 20 BTC out of the window by sending coins to himself and there you go, for 10 days everyone would have to wait for his turn to end.
Does it seem like a solution you would want that the greedy miners hate?

As for CoreFeeHelper every one of those algorithms works on past data and with the 10 min block time,  none is cable of anticipating Binance dumping 40 blocks of tx in a single minute, none is cable of predicting you will not have a block mined for an entire hour, just as how they can't predict you will have 6 blocks mined in under 13 minutes. So, for them is all past data and current time since the last block but it can take only 1 second for your tx that was supposed to be confirmed in the next block to end up 4 blocks away and then everyone will keep increasing their fee, estimators will rise the fee and your tx will get buried more and more and furthermore by the same estimators that told you an xx/sat/b  will be confirmed in 10 minutes.

Bullshit!
The laws are strictly considering only financial institutions that are offering financial services to customers, it's nothing about how you decide to store or hide or safekeeping your coins.
Besides, look in what rabbit hole you've dug yourself, by claiming the government can impose this you've essentially said that any government can control Bitcoin and can decide what you're going to do with your coins, so at this point what is the point of all of this in the first place?


You still haven't been able to give one single example of an innovation that is going to be killed by these laws.


Weird, last time I checked Satoshi didn't ask for any money, Doge had no ICO, neither had Litecoin, and there was no IPO on Segwit but I kind of forget if I had to buy BitcoinCore from Microsoft. I'm sure I'm paying a monthly fee but I'm not sure it's Vodafone or Electrum.

So again:
What real innovation with real-world use and not a pump and dump hype garbage would be killed by this?

Does Bitcoin know about this?
Who made you the spokesperson of Bitcoin?

If I remember correctly, one of the garbage that Bitcoin was supposed to get rid of was centralization, so we wouldn't have a single leadership and a guy deciding what is best for millions, and look where we are, somebody suddenly feels like Jesus and he's speaking for all of us!


I'm starting to doubt this. According to some around here, a bunch of JPGs and daily fees that are not even the budget of third rate government agencies are enough to launch a terrorist attack on bitcoin and make the network unusable by the average Joe with only whales being able to use Bitcoin.

I'm genuinely curious how Bitcoin will see global adoption in this case if 500k extra transactions are "hurting" the network that badly.
I've seen numerous threads about how Bitcoin has 100-200 million users worldwide, now, the simple question is, what will happen if every single on of them would want to just do a transaction? 
A regular, normal transaction, that is not a jpg monkey, verified by all peers, eco friendly sustainable, with a positive value to the economy, rated 5 stars even by the defenders of the Palantir or how the hell does the mob of anti ordinals call themselves?

What do we do then to bring the fees down?
- we ban mixers and tumblers?
- we ban consolidations?
- we ban tx between 0.04645 and 0.38651 ?
- we ban tx sent any other time than between 8-16 during weekdays?

Or, and bear with me on this horrendous idea, we adapt?

Finally  I've been able to see that vid on a larger screen and catch the details, so this seems a lot worse than viabtc but with a twist.
Unlike viabtc there is no limit, no min fee or max size, so you could end theoretically with a block full of 1sat/b paid by a large exchange while other pools get 1-2 btc in fees,  at least viabtc caps this at around 50kb of space it's just in the low single digits loss in fees.

Now, the twist
Foundry is closed circuit, not a public one so I'm pretty sure they agreed on this take because the money would anyhow get split between a dozen individuals at most.

For the normal users wanting to "accelerate" a tx it's still garbage, you still pay 3x-5x more than you could have paid to get you tx confirmed normally, so almost worthless unless you have somebody sending you $100 000 with 1sat/b.

No you didn't, you said it clearly in the first line:


You mentioned investing and rising in price 7 times but not once you said anything about existing!


Again wrong, the supply is not getting scarcer, the supply grows, today we have 900 freshly minted coins that are added to the circulating supply, what you tried to say is the rate at which the supply is growing is going down.
For the supply to get scarcer you would need to destroy each day more coins than are getting minted.

Simple!
Foundry USA which is the biggest mining pool right now, and the one that sponsored mempool.space with both money and hardware is now planning on offering the same thing as ViaBtc does but through mempool.space . As you can see the block that confirmed it was mined by Foundry , but it was a coincidence they mined one right then, probably they've done more instances of the videos till they got one right!

Btw, their new feature seems to not be counted by the explorer, it still shows the fee span as 86 - 401 sat/vB despite it being 1 - 401 in reality.

Maybe it's Fahrenheit? 
Quite the coincidence but 97F is around the normal human body temperature, so, it makes sense, they are heating up the workers to be more productive! 


How about not, people who have f**** their own country with their stupid votes should stay there rather than go to a different country and do the same, but it's a bit too late, it's already happening as I see the ones fleeing collapsing countries for a better life here advocating for the same stuff that made them flee in the first place.

You have just described the growing demand!
And no, as with any other thing out there, be it an asset, a commodity, a metal, oil, real estate, jpg monekys or bitcoin they all need more demand in order for the price to grow. How could the price even go up when there would be fewer people with less money buying than people selling?
No matter how great Bitcoin is it still needs to abide to the laws of economics.


You've been around this forum for almost a year and you seriously, seriously!!!! want to discuss this here?
Besides, just a quick search and I've found a ton of topics with the same thing, why not express your fears there?

How do I convince people that Bitcoin isn't a financial pyramid
Bitcoin Exceptionalism: Why Should this Pyramid-Ponzi Not end Like all Others??

It worked for the US it worked for Europe despite being in the small single-digit area, it has been proven a lot of times during the last century and there is little to debate, making money more expensive for borrowers drives down consumption and inflation, it's simply economics.


In Argentina's case?
Pretty simply, make a list of all the things that have been done by the government since the 50s last century, and don't do any of them again!
It will end far better than the current path. But more realistically, just flee the country, it's doomed to be in a perpetual loop of crisis.


Then, why is Japan not experiencing inflation despite being dependent on imports and why is the US having inflation when, d'oh, they can just print it?
Besides, how could Turkey be 20 times more dependent on imports than all the countries in Europe?
Inflation is simply a cause of more demand and less offer, we have just entered a period of consumption after the lockdowns and the industry with the broken logistics chains can't revamp production as easily as customers decide to spend money.

This is another example of how the actual population is the one deciding the fate of a country
- you can have billions in resources, but that's not like those were given to you or you earned them somehow, it's just that in the lottery of life, you were born there and not on a completely different continent, so one shouldn't feel entitled just by that
- you can have almost no resources but ingenuity born out of shortages will help you way more than just having your meal dropping on your head every day, see how Japan industrialized itself

Besides, since the discussions start with we have resources, we need to be wealthy, It is clear how this will go long term even if those resources will be exploited, a classic example of Dutch disease where everyone would simply depend on the price of minerals on the markets.


And the ability to print money has been always a double-edged sword, look at what this did to the Zimbabwe dollar, the Sudanese pound, the Naira, and the SAR rand, almost all of the currencies have lost 80% vs the dollar, while the CAF, it was 0.0019 in 2003 it's 0.0017 now 20 years later.

It's a free market algorithm.
There are more people who want a confirmed tx than space available and since there is no other way to select tx that won't be abused by spammers and make thinks far worse this is it!

I'm pretty sure you would also sell your coins to the one offering $22.5 k when you have offers for 26.5k just because the other guy has been waiting for days for a customer!Right?


They all follow it, one exception to the rule is viabtc which allows up to 100 tx/h submitted on their website in the next block, but with their own rules, under 0.5 kb and over 10sat/b.

Again, what innovation?
You could have given a real example where a company forced to take care of customers money can't innovate anymore cause for sure I haven't heard of one in my whole life.

Every single time that we have things that regulate financial companies and customer care there is this thing how this is bad for crypto for some reason when the whole thing shouldn't have existed in the first place, the whole deal of not your keys not your coins.

All the complains essentially boil down to one thing, people will not be able to invest in crypto freely because of a fee and somehow this will kill...omg!
How easy is for a guy in Kiawabuga to buy Tesla or Tsmc shares? Did it kill innovation?
Did any of those Icos that burned billion had any real life real product proven innovation?

How can normal companies invent millions of things and suddenly because crypto companies are required to deposit safely customers funds they are getting lobotomized.
Common, this is just bs and propaganda from exchanges that, like davef said, have no books and have no idea where customers money really is.