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NickSzabo4's profile
Nick Szabo 🔑
Nick Szabo 🔑
Nick Szabo  🔑
@NickSzabo4

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Nick Szabo  🔑

@NickSzabo4

Blockchain, cryptocurrency, and smart contracts pioneer. (RT/Fav/Follow does not imply endorsement). Blog: http://unenumerated.blogspot.com 

Joined June 2014

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    1. Nick Szabo  🔑‏ @NickSzabo4 12 Jul 2018
      • Report Tweet

      Nick Szabo  🔑 Retweeted Yousef

      Blockchain fees/gas are way too unpredictable. L2s should focus far less on making fees lower & far more on making them more predictable. One flat 10,000 satoshi fee for a year's worth of txs can beat the heck out of fees that might add up to 1 satoshi one month & 5,000 the next.https://twitter.com/byourseff/status/1016795686506033153 …

      Nick Szabo  🔑 added,

      Yousef @byourseff
      Many people seem to be stuck in December 2017 and think Bitcoin fees are high. In reality, Bitcoin fees are at a historic low. If you got funds you want to consolidate, or simply want to make a micropayment with Bitcoin, now's the best time to do so!
      25 replies 101 retweets 408 likes
    2. tekkaadan‏ @tekkaadan 12 Jul 2018
      • Report Tweet
      Replying to @NickSzabo4

      So you're suggesting attaching a "fee subscription" model to address or companies that want stable fees? Isn't that going to complicate things? (Correct me if I misunderstood the response)

      1 reply 0 retweets 2 likes
      Nick Szabo  🔑‏ @NickSzabo4 12 Jul 2018
      • Report Tweet
      Replying to @tekkaadan

      Yes it will likely complicate things for the relay while simplifying them for the user, but I expect relays will be able to make large profit margins by taking on this risk and complexity.

      1:26 AM - 12 Jul 2018
      • 14 Likes
      • Nick Taylor Armitage Justin Moon BCH/BSV-are-scams John Sam Buck Perley Gary Basin 🔧 AnonymousEconomist Hugo Volz Oliveira
      2 replies 0 retweets 14 likes
        1. tekkaadan‏ @tekkaadan 12 Jul 2018
          • Report Tweet
          Replying to @NickSzabo4

          Interesting. I think in the long run when Bitcoin adoption becomes greatly widespread, the implementation of such a mechanism would be inevitable.

          0 replies 0 retweets 0 likes
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        2. MegaExponential TF‏ @furlanel 12 Jul 2018
          • Report Tweet
          Replying to @NickSzabo4

          yup the cost of optimal dynamic program solution gonna be <= to the optimal static solution. 1) to sell this insurance you need to get both solutions and that's gonna be costly 2) the dynamic solution going to be observable from the blockchain making model theft trivial.

          1 reply 0 retweets 0 likes
        3. MegaExponential TF‏ @furlanel 12 Jul 2018
          • Report Tweet
          Replying to @furlanel @NickSzabo4

          https://arxiv.org/abs/1609.02943 

          1 reply 0 retweets 0 likes
        4. End of conversation

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