Nick Szabo  🔑

@mmeijeri @NickSzabo4 @petertoddbtc Fees more likely to vary because of network congestion than tx size. Almost all basic txs < 1KB

@mikeland86 @mmeijeri @petertoddbtc In this case too the wallet knows far more about network congestion than the user.

@mikeland86 @mmeijeri @petertoddbtc cf. trying to even out postal traffic by changing what a stamp cost every day : not worth it.

@mikeland86 @mmeijeri @petertoddbtc Fee only good for reducing long-term average congestion, not for adapting to spikes.

@NickSzabo4 @mmeijeri @petertoddbtc Agreed. In long term wallets will have to move to settlement/lightning/off-chain with fixed or no fees

@mikeland86 @NickSzabo4 @mmeijeri Insisting that Bitcoin itself be fixed fee is like arguing electricity be flat rate for user acceptance.

@mikeland86 @NickSzabo4 @mmeijeri The tech just doesn't work that way; building better tech better than surprising users with bad models.

@petertoddbtc @NickSzabo4 @mmeijeri tech vs UX. Fee models will change, see: dialup/home cable/cell data pricing -> per minute/speed/MB