Transaction fee market without block size limit would lead to too low a level of security for Bitcoin: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2400519 …
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@NickSzabo4@adam3us that is not what the paper says. It says the rational miner would include zero txs. Doesn't model propagation.
@jony_levin @adam3us It is what the paper stays -- that's a direct paraphrase from the paper. It's not about messaging risk.
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@NickSzabo4@adam3us well that must have been before the analysis since he concludes that including txs is not rational in his model -
@NickSzabo4@adam3us I extended his model to include messaging https://www.scribd.com/doc/235838093/Creating-a-decentralised-payment-network-A-Study-of-Bitcoin … empirics from network measurement, not relay network
End of conversation
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