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280 sats \ 3 replies \ @Chep 12 May 2023 \ on: What is the game theory behind the fixed block size and the fee market? bitcoin
Fee market game theory is you will pay more to secure your tx in the next block. If you are in a rush. Otherwise you might pay less because you don't care that your tx gets confirmed in ~10 minutes. For the blocksize I'm not sure the game theory but I appreciate that core devs had the foresight to tell big blockers if we increase the block size running a node will become increasingly hard
Yeah, and running a node needs to be easy if we want the network to remain decentralized.
The blockchain is growing in a more-or-less linear fashion, so the more-than-linear (exponential at least for now, as per Moore's law, but we don't know for how long) growth of storage technology should allow for nodes to become increasingly more decentralized.
Not sure about Monero, but had the blocksize wars been won by the large blockers camp (led by Gavin Andresen), the blockchain would grow exponentially and we might get stuck in a centralization spiral.
The fees will go up, but the base chain wasn't meant to scale, that's what LN and other L2 and L3 solutions are for. In the trilemma, decentralization and security cannot be compromised on, so it's scalability that is sacrificed.
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yeah the L3 solutions seems great. things like FediMint are awesome although I know there is some discussion if it is L2 or L3.
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I bought an old server with 3terrabytes of space on ebay for this exact reason. Hoping to have it last for the next 10 years🤝
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