Nick Szabo  🔑

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 …

@NickSzabo4 @adam3us the relay network @TheBlueMatt and its effects havnt been studied

@jony_levin @adam3us @TheBlueMatt If it hasn't been studied then why has it been deployed?

.@NickSzabo4 @jony_levin @TheBlueMatt relay net reduces block transfer time by reference to already received tx, avoids sending tx twice.

@adam3us @jony_levin @TheBlueMatt The problem must be awfully bad for an extremely bottlenecked TTP network to be the best solution.

@NickSzabo4 @adam3us @jony_levin hmm? Actually a hub and spoke network with optimized routing around the globe is damn near optional

@NickSzabo4 @adam3us @jony_levin otherwise each miner has to invest a lot to find that the way to route from china to eu s through Siberia