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1  Other / Meta / Re: Stake your Bitcoin address here on: February 11, 2016, 09:38:21 AM
-----BEGIN BITCOIN SIGNED MESSAGE-----
This is Baudbonny's address: 1BaudD79CVCFFfy1sA6xa5qwHLRkNUNSFK
-----BEGIN BITCOIN SIGNATURE-----
Address: 1BaudD79CVCFFfy1sA6xa5qwHLRkNUNSFK

HK3erTrWcFsorJkPtqziLYgnPHe7pf3cFxC4tP5qo4JZMKJZsK4GVjKvzkfkD7yp3x1QS/mbuTpuSpzDRvuFaNQ=
-----END BITCOIN SIGNATURE-----
2  Bitcoin / Bitcoin Discussion / Re: An excessive fee is an our future? on: February 11, 2016, 09:32:06 AM
Quote from: maokoto on February 10, 2016, 07:34:12 PM
I think that if fees are too high, people will cease to use bitcoin and miners will cease to get fees so none wins. Probably they will adjust to a point of compromise.
People will cease to use bitcoin and miners will increace fees to save earnings. It will cause that people will cease to use bitcoin... Bitcoin going to be forgotten (unstable system).

I hope we have another way: People will cease to use bitcoin and miners will increace fees to save earnings. It will cause that people will cease to use bitcoin... Many miners stop mining --> Difficulty decreace ---> Not so many miners go back... Bitcoin not going to be forgotten (stable system).
3  Bitcoin / Bitcoin Discussion / Re: An excessive fee is an our future? on: February 10, 2016, 02:39:15 PM
Quote from: Akupuniard on February 10, 2016, 02:30:50 PM
This is kinda...not inspiring. As far as I can understand, this is coming along with the problem described by Hirsch. I mean, limit of transactions per second we're encountering right now.
Can you link to the description you wrote about?
4  Bitcoin / Bitcoin Discussion / Re: An excessive fee is an our future? on: February 10, 2016, 02:19:41 PM
Quote from: ETFbitcoin on February 10, 2016, 02:08:21 PM
Quote from: Baudbonny on February 10, 2016, 01:55:34 PM
Quote from: ETFbitcoin on February 10, 2016, 01:43:57 PM
If bitcoin price is very high in future, there won't be any problem for miners because they still earn same amount of money (in fiat).
Also, ASIC or mining device will be more efficient than now in future & electricity price could be lower if scientist can find better way to produce electricity for lower price.

So, i think there won't be any problem if those condition are fulfilled.
Do you mean the fees amount in BTC will not change? But if some guy bought 0.01BTC for 100$ ("bitcoin price is very high in future") and he have to pay 0.0001BTC (one $) per each transaction? What if he wants to buy some good that costs 1-2$? 50% fee it is very bad. If the whole world will use Bitcoin miners will do all that I wrote.

I mean if bitcoin price is very high, miners can earn bitcoin which worth a lot in fiat so they don't have to increase bitcoin fee, in fact they can reduce bitcoin fee drastically.
I just forget to write that in previous post, that's all.
I undersood you, don't worry Smiley Yes, miners can reduce fee, but even reduced fee will worth a lot in fiat so it will be disadvantageously to buy cheap goods.
5  Bitcoin / Bitcoin Discussion / Re: An excessive fee is an our future? on: February 10, 2016, 02:06:25 PM
Also if ASIC or mining device will be more efficient than now in future then all miners will buy it and situation will not change! Tha same hashrate distribution between pools and only ASIC manufacturers have big earnings.
6  Bitcoin / Bitcoin Discussion / Re: An excessive fee is an our future? on: February 10, 2016, 01:55:34 PM
Quote from: ETFbitcoin on February 10, 2016, 01:43:57 PM
If bitcoin price is very high in future, there won't be any problem for miners because they still earn same amount of money (in fiat).
Also, ASIC or mining device will be more efficient than now in future & electricity price could be lower if scientist can find better way to produce electricity for lower price.

So, i think there won't be any problem if those condition are fulfilled.
Do you mean the fees amount in BTC will not change? But if some guy bought 0.01BTC for 100$ ("bitcoin price is very high in future") and he have to pay 0.0001BTC (one $) per each transaction? What if he wants to buy some good that costs 1-2$? 50% fee it is very bad. If the whole world will use Bitcoin miners will do all that I wrote.
7  Bitcoin / Bitcoin Discussion / An excessive fee is an our future? on: February 10, 2016, 01:36:59 PM
Hello, I have some fears about fufure of BTC (sorry if the same thread already exist, I haven't found it).

In future block reward will be equal to zero and it makes uspet the miners who are earning a living by minning. In an effort to continue earnings they will be increace fees of accepted transactions to block and we will have two choices: pay harder fee or wait to confirmation forever. Bitcoin is a dicentralized system but not fully because of minnig pools. Head of pools can decide for accepting the only transactions wiht big amount of fee easily.

For example (just random block):
Block: https://blockchain.info/block/000000000000000004019d60da68382b2bae8526dc57aa083073f1fd1f30e8ac
Reward: 25 BTC
Fees: 0.20759672 BTC

So minners should increase fees more then 100 times to save current earning level.

What do you think about it?
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