the 54uBits Patch 8.2?, I'd like the market to decide.

[jubalix]

As value goes up, the the micro's are not micro's any more, but perhaps the Bitcoin protocol canot handle mass adoption then? is this an admission?

Do we have to swap speed for block chain size so FTC or even CNC might win out, and just live with huge blockchains, that are hosted on a serves and use electrum type wallets?

The market by taking fees should decide, if the smallest fee is more than 54ubits then that it!

This centralist approach is far to hamfisted, eg cannot change quickly for market conditiomns. A market approach is much better


A good patch would be one that seeks the least fee from miners, and miners broadcast fees

problem solved!!!

[Gab1159]

Just interested on knowing why you mentionned FTC and CNC.

I really think this is a good opportunity for "alt coins" to rise and finally have some real use. I've been using Litecoins for when I needed funds to be moved almost instantly, and they could be used to cover micro transaction, bitcoin being used for the bigger ones.

I think a world with many coins would be better than a world ruled by bitcoins and bitcoins only.

[jgarzik]

Please read the patch.

This pull request is the first step towards a market between miners (who want higher fees) and merchants/users (who want lower fees, but also want their transactions confirmed). Miners can already control what fees they accept, this pull lets users control (very clumsily, improvements on the road map) the fee they are willing to pay.

Previously, these limits were simply compiled-in constants.  Now they are configurable.

[Ichthyo]

The market by taking fees should decide, if the smallest fee is more than 54ubits then that it!
...
A good patch would be one that seeks the least fee from miners, and miners broadcast fees

You should note that the devs of the satoshi client have exactly that goal. They want these threasholds to be computed automatically. (Please read the discussion thread of the devs!). Just this is not so easy to implement and they found that the hard-baked-in constant for the minimum fee is dangerous, given the rising value of bitcoin. Thus they decided to implement the easy step fist and get rid of the hard-baked constant right now, replacing it by a commandline switch, with a default value used when the commandline switch is not given.

[jubalix]

The market by taking fees should decide, if the smallest fee is more than 54ubits then that it!
...
A good patch would be one that seeks the least fee from miners, and miners broadcast fees

You should note that the devs of the satoshi client have exactly that goal. They want these threasholds to be computed automatically. (Please read the discussion thread of the devs!). Just this is not so easy to implement and they found that the hard-baked-in constant for the minimum fee is dangerous, given the rising value of bitcoin. Thus they decided to implement the easy step fist and get rid of the hard-baked constant right now, replacing it by a commandline switch, with a default value used when the commandline switch is not given.

the problem is 95% of users know nothing for CMD switch. They have to think about adoption/use not just codeing.

Also I could adjust the payment anyway in 8.2

[jubalix]

The market by taking fees should decide, if the smallest fee is more than 54ubits then that it!
...
A good patch would be one that seeks the least fee from miners, and miners broadcast fees

You should note that the devs of the satoshi client have exactly that goal. They want these threasholds to be computed automatically. (Please read the discussion thread of the devs!). Just this is not so easy to implement and they found that the hard-baked-in constant for the minimum fee is dangerous, given the rising value of bitcoin. Thus they decided to implement the easy step fist and get rid of the hard-baked constant right now, replacing it by a commandline switch, with a default value used when the commandline switch is not given.

below a certain fee, transaction don't get processed = market dicipline.

It works!

Some service will arise to agreagtate a table of least fees.

Some one will automate it

some one will patch it

let the market work

[gmaxwell]

Some service will arise to agreagtate a table of least fees.
Some one will automate it
some one will patch it
let the market work

Then why all the whining when you're confident that the InvisibleHand will take care of all?

[jubalix]

Some service will arise to agreagtate a table of least fees.
Some one will automate it
some one will patch it
let the market work

Then why all the whining when you're confident that the InvisibleHand will take care of all?

good point!!!! - it may just take longer....but your right!