@drwasho If it becomes common for pools to pre-sell block space, we’ll have not one but /many/ (opaque) fee markets ;-)
@bgok IDK, if you don’t have $10M in capital to invest in starting a mining operation, it may be cheaper to lease preallocated block space.
If we get to the point where a significant portion of block space is pre-sold by miners to institutions, it could cripple fee estimate algos
As block space contention increases, institutions may prepurchase from miners. Note that @YourBTCC & @21 already mine txns for their users.
If Bitcoin mining pools published their txn selection algorithms & provided fee recommendation APIs, the fee guessing game => a fee market.
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oocBlog Animation of hyperbolic #bitcoin transaction fee density (btc/kB) model pic.twitter.com/wrJ7llSGMU