Peercoin×Discord

20 апреля 2024 19:05

matt_l_m
Having predictable fees from the consensus level is nice though.

Peercoin×Discord

20 апреля 2024 19:05

nagalim
A fee market can arise in peercoin the same way as bitcoin, but the burnt fee makes such a situation long term sustainable and the fee will go back down simply due to a lack of supply

Peercoin×Discord

20 апреля 2024 19:04

matt_l_m
I still think it's a good idea to have a premium fee rate for spammy transaction data.

Peercoin×Discord

20 апреля 2024 19:03

matt_l_m
It could be worse if there is no way to increase the PPC fee to prevent congested blocks. They might enter Peercoin as a "cheap" way to mint crap tokens and fill out Peercoin blocks with them. This is made worse if NFT data is included as with ordinal "inscriptions".

Peercoin×Discord

20 апреля 2024 19:00

matt_l_m
In any event, these protocols produce superfluous data and are a waste of blockspace.

Peercoin×Discord

20 апреля 2024 18:59

nagalim
It is a slow progression. I could be wrong, but surely if I am wrong then the fees will go back down long term and the hashrate will suffer

Peercoin×Discord

20 апреля 2024 18:58

matt_l_m
The whole system can't possibly participate. I don't see how such a large cartel could have formed to afford them to spend so much on fees to non-cartel miners.

Peercoin×Discord

20 апреля 2024 18:58

nagalim
Possibly. It could also be both

Peercoin×Discord

20 апреля 2024 18:57

nagalim
True, miners who do not submit txns bleed money from the system. But they bleed less than they get if the whole system participates. It's a prisoner's dilemna

Peercoin×Discord

20 апреля 2024 18:56

matt_l_m
It wont if the fees they collect from normal users is less than what they lose to miners outside of the cartel.

Peercoin×Discord

20 апреля 2024 18:55

nagalim
If each pool agrees to add txns at x fee every block proportional to their hashrate, then theoretically that would be a profitable venture. Nothing prevents them from pursuing this venture.

Peercoin×Discord

20 апреля 2024 18:54

matt_l_m
They would haemorrhage funds when their high fee txs are included in those other blocks. Do you really think a vast majority of miners/pools are colluding as such? What's the evidence for that?

Peercoin×Discord

20 апреля 2024 18:52

matt_l_m
There has to be demand pushing up the price so high.

Peercoin×Discord

20 апреля 2024 18:51

nagalim
I am just saying that the economics of the bitcion fee market are not applicable to peercoin.

Peercoin×Discord

09 апреля 2024 23:45

Some of us may remember the first big miners conferences where you basically had 65-70% of bitcoins total hash rate on one stage with like 5 guys

Peercoin×Discord

20 апреля 2024 19:05

matt_l_m
Pay a higher amount that is.

Peercoin×Discord

20 апреля 2024 19:04

matt_l_m
So they are still allowed but they have to pay with burnt fees.

Peercoin×Discord

20 апреля 2024 19:03

matt_l_m
We have avoided it for now, but it concerns me going forward.

Peercoin×Discord

20 апреля 2024 19:01

nagalim
I don't think they would play out the same way with burnt fees.

Peercoin×Discord

20 апреля 2024 18:59

matt_l_m
Fees went back down as the ordinal craze died down. However ordinals are still about and fees are higher than they would be without them.

Peercoin×Discord

20 апреля 2024 18:58

ppc twitter bot relay
@PeercoinInflBot
https://twitter.com/PeercoinInflBot

#Peercoin's annual #inflation rate is 2.52% (changed by 0% in last 24h) - more at ppc.lol/inflation

Peercoin×Discord

20 апреля 2024 18:58

nagalim
Network effects and all that

Peercoin×Discord

20 апреля 2024 18:57

matt_l_m
Remember how degenerate people are with crypto. I remember the ICO nonsense where people would throw money into an address that announced an ICO without thinking about it. This is just another example of idiots throwing money at another memecoin craze.

Peercoin×Discord

20 апреля 2024 18:56

matt_l_m
And with fees so high, many people will avoid transacting.

Peercoin×Discord

20 апреля 2024 18:56

nagalim
I believe this is not happening with like people on a chat. I think it is the game theoretic consequence of the system

Peercoin×Discord

20 апреля 2024 18:54

matt_l_m
And what about the ordinal spam that already occurred and drove up fees? That was a ruse as well?

Peercoin×Discord

20 апреля 2024 18:52

nagalim
Yes you would. They collude, and eat the cost of the odd block that isn't in their cartel

Peercoin×Discord

20 апреля 2024 18:51

matt_l_m
It can't be the miners. If that is the case you wouldn't expect every block to have such high fees.

Peercoin×Discord

09 апреля 2024 23:46

Talk about decentralisation

Peercoin×Discord

09 апреля 2024 22:43

peercoin
https://twitter.com/mononautical/status/1777686545715089605