📅 Original date posted:2014-02-28
📝 Original message:On Thu, Feb 27, 2014 at 7:25 PM, Troy Benjegerdes <hozer at hozed.org> wrote:
>
> Either the transaction fees are sufficient to pay the cost for whatever
> random junk anyone wants to put there, or they are not, and if they are
> not, then I suggest you re-think the fee structure rather than trying
> to pre-regulate me putting 80 character pithy quotes in the blockhain.
>
>
https://github.com/litecoin-project/litecoin/commit/db4d8e21d99551bef4c807aa1534a074e4b7964d
In one way in particular, the transaction fees per kilobyte completely
failed to account for the actual cost to the network. If Bitcoin had
adopted a common-sense rule like this, I would have had no reason to join
Litecoin development last year. This is one of the few economic design
flaws that Satoshi overlooked in the original design.
As much as I personally hate the idea of data storage in the blockchain,
this at least discourages the creation of permanent UTXO.
Warren Togami
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Warren Togami Jr. [ARCHIVE] /
npub1s5…zxem8
2023-06-07 17:13:58
in reply to nevent1q…qp95
Author Public Key
npub1s5p2xnl52ksr3a4qfa8re5znmja46ugm3x3ayy0x2c2mqrsw6ewsmzxem8Published at
2023-06-07 17:13:58Event JSON
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"content": "📅 Original date posted:2014-02-28\n📝 Original message:On Thu, Feb 27, 2014 at 7:25 PM, Troy Benjegerdes \u003chozer at hozed.org\u003e wrote:\n\n\u003e\n\u003e Either the transaction fees are sufficient to pay the cost for whatever\n\u003e random junk anyone wants to put there, or they are not, and if they are\n\u003e not, then I suggest you re-think the fee structure rather than trying\n\u003e to pre-regulate me putting 80 character pithy quotes in the blockhain.\n\u003e\n\u003e\nhttps://github.com/litecoin-project/litecoin/commit/db4d8e21d99551bef4c807aa1534a074e4b7964d\n\nIn one way in particular, the transaction fees per kilobyte completely\nfailed to account for the actual cost to the network. If Bitcoin had\nadopted a common-sense rule like this, I would have had no reason to join\nLitecoin development last year. This is one of the few economic design\nflaws that Satoshi overlooked in the original design.\n\nAs much as I personally hate the idea of data storage in the blockchain,\nthis at least discourages the creation of permanent UTXO.\n\nWarren Togami\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20140228/9c9281f9/attachment.html\u003e",
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