The below is an off-site archive of all tweets posted by @lopp ever

June 14th, 2016

@prestonjbyrne It’s amazing how so many people have the ability to predict the futures of alternate timelines.

via Twitter Web Client in reply to prestonjbyrne

@ajtowns Ideally this would always be the case, but I’m quite sure many txns are automated / not presented to a human for a fee decision.

via Twitter Web Client in reply to ajtowns

BitGo Proud of BitGo saving people real money with Dynamic Fraud Filters. blog.bitgo.com/bitgo-dynamic-…

via Twitter Web Client (retweeted on 6:01 PM, Jun 14th, 2016 via Twitter Web Client)

.@SenBillRabon @SenatorBobRucho @jerrytillman: next time invite companies most impacted by regulation: startups. coindesk.com/blockchain-dig…

via Twitter Web Client

A web site FAQ of exemptions can be changed on a whim: it is insufficient protection for startups. twitter.com/jerrybrito/sta…

via Twitter Web Client

Sounds like nothing has changed since we last looked at it, meaning there are many concerns. coindesk.com/blockchain-dig… pic.twitter.com/okDpmACDpU

via Twitter Web Client

@bedehomender Miners collect whatever transactions are paying the highest fees.

via Twitter Web Client in reply to bedehomender

@el33th4xor I guess it could ratchet down if enough users stop using Bitcoin :-P

via Twitter Web Client in reply to el33th4xor

6) As a result, it seems that an increasing exchange rate is another factor that pushes low value transactions off of the network.

via Twitter Web Client in reply to lopp

5) Thus it appears that if blocks remain full, the fee rates remain the same in terms of satoshis per byte regardless of exchange rate.

via Twitter Web Client in reply to lopp

4) This creates a fee rate standoff: there’s a first mover disadvantage to lowering txn fee rates to compensate for increased exchange rate.

via Twitter Web Client in reply to lopp

3) If the exchange rate spikes & a wallet decides to lower the fee rate it pays, those wallet users will now suffer from delayed confirms.

via Twitter Web Client in reply to lopp

2) As the BTC / fiat exchange rates go up and down, fee estimate algos don’t take them into account because they are irrelevant to miners.

via Twitter Web Client in reply to lopp

1) All Bitcoin txn fee estimate algos I’ve seen are based upon the satoshis per byte that recent history shows is needed to get confirmed.

via Twitter Web Client

BitGo Bitcoin transactions stuck on blockchain? Get a BitGo Instant wallet w/ no waiting to @bitfinex @Bitstamp @kraken bitgo.com/instant

via Twitter Web Client (retweeted on 12:57 PM, Jun 14th, 2016 via Twitter Web Client)

@alansilbert There were some suspiciously low fee txns, though IDK offhand what % they comprised the spike.

via Twitter Web Client in reply to alansilbert

Four blocks in the past 2.5 hours + mempool spike = unhappy customers. pic.twitter.com/93EqdUY2p2

via Twitter Web Client