13 sats \ 2 replies \ @petertodd 14 Jul \ parent \ on: Bitcoin Mechanic on Pretend Meritocracy in Bitcoin bitcoin
Bad or not is irrelevant. The point is that censorship will not work.
The point is that censorship will not work.
Well, if you treat it as a binary outcome then it is technically correct. But I don't think the filter-advocates are thinking in that terms (And tbh imho its just not a good way to think about it). It's more of spectrum thing.
For example If 30% of miners deem some transactions of type X unwanted and they don't include those in the blocks, the X transaction will have 30% less of blockspace to compete over. And it will cause them to pay larger fees thus decreasing amount of X transactions.
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Censorship didn't work for full-rbf. Once a non-trivial amount of money was available by mining full-rbf txs, just a few thousand a block, every pool quickly followed and turned full-rbf on.
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