Transaction fees on a growing network
k.coins last edited by
Thought I'd try to start a discussion about this because I'm curious and thought it would be of philosophical utility
It seems that one effect of naturally or artificially stimulating the network load has been an increase in the average transaction fee processed. In my observation, we are slowly moving towards a 2 burst fee as the norm or even higher. Now this raises the question, do we look at this as a good thing, because mining incentives have increased? Or, do we look at this as a bad thing, because the consumers and developers now require more capital for their endeavors?
Hope to hear some opinions on this one... -k
rds last edited by
It is a balancing act. Supply and demand. With shrinking block rewards and increase traffic, fees have to increase or miners will disappear. If fees get too big people will abandon the platform for a more efficient one.
Gibsalot last edited by
i think eventuly max # of transactions per block will have to be raised , because even with bump in fee eventuly there will be a back logg that wont get prossesed throu or will take days to get in on the low activity block's. yes the fees per transaction will go down but with more transactions per block the miners fees will still be more on active blocks , and we need to look at it as if Burst was the #1 gone full Mainstream currency and be capable of handleing that kind of traffic or we will be in this situation agin in short order if Burst begins to take off.