@ViaBTC @MrChrisEllis So… you’re complaining that you’re making too much money?
If we hit 1250 satoshis per byte then we will have reached parity with the current block reward. https://t.co/fwl2LQEXoA
A bit of a fee event on the blockchain today; Bitcoin Core’s recommended fee rate for confirmation in 3 blocks doub… https://t.co/AaL8hRfZjv
@brucefenton Fee rates surged to all-time highs today. No algorithm can predict the future.
@CharlieShrem That would be great, but Bitcoin services have far more control over the former than the latter.
@Goatmansbridge @ChrisDunnTV @CryptoHustle @BTCKYLE @AlanStruna @CMBartley @onemanatatime This is actually TBD; we… https://t.co/uO1OYIGA2J
@Goatmansbridge @ChrisDunnTV @CryptoHustle @BTCKYLE @AlanStruna @CMBartley @onemanatatime To be clear, Two Weeks™ i… https://t.co/kvQ93pycxE
@Adam_S9 Some may, but in general they still have to pay competitive fees or wait a really long time to confirm.
Looks like someone has chosen an extremely expensive day to consolidate their UTXOs… pic.twitter.com/QHvfr0wjH1
@TplusZero Two Weeksâ„¢
There’s no need to justify Bitcoin’s current properties: it simply is. Justification is only required to make changes & break status quo.
@JihanWu Exciting times! Savvy businesses had better be prepared to adapt.
5) Services accepting deposits into P2PKH addresses currently have an overhead of 148 bytes * 200 satoshis / byte = 29,600 satoshis ($0.51)
4) Services could detect small deposits and refuse to credit the user or possibly even deduct an appropriate fee from their current balance.
3) Of course, it’s actually more complex than this and depends upon each businesses’ profit margins. This issue creates additional overhead.
2) This can’t be enforced at protocol level, but if users deposit < amount required to spend an output, they are costing the service money.
1) It’s probably time for bitcoin services to set dynamic minimum deposits that are commensurate with the cost to spend the UTXOs.
If history repeats with a 50% crash ($29 Billion) then we can expect weeping & gnashing of teeth. Only the stronges… https://t.co/JAEwRaGrrD
Due to recent support tickets, this bears repeating. https://t.co/dQ7JQ1yCS7
@NeerajKA @mikejcasey That’s too realistic a figure; real ICOs raise millions in 15 minutes.
@olivierjanss @jgarzik Jonald’s making his argument to the wrong audience. I think this statement explains why: “Yo… https://t.co/WHx6smrUv3
Good advice from @Trevornoah for ransomware authors. 🤣 https://t.co/mepdSeS5u2