JayJuanGee
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How much alt coin diversification is needed? 0%?


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January 15, 2016, 04:29:37 AM

If you double the blocksize, you also double the fees miners get paid without increasing the rate at all!
This might increase the cost of mining by some tiny fraction but nowhere near 100%. So let's be generous and say 2MB blocks will cost miners 110% of 1 MB Blocks.

So how about this calculation:

scenario A: 12.5BTCblockreward+3BTCxactionfees=15.5 BTCminerreward

scenario B: (12.5BTCblockreward+6BTCxactionfees)/1.1=16.818BTCminerreward

And that doesn't even factor in the very likely probability that BTC exchange rate will go up significantly due to the added utility.

So why do miners object? Could it be that they will get no reward at all because they are mining over a slow internet connection (through TOR or behind the Great Firewall) that means they cannot compete with miners with faster connections?

All the other objections are just to obscure this one. The real one. Forget the decentralization argument. Forget the "any hard fork is too radical" rationalization. These are not honest people and they are taking wealth, not making wealth.



Maybe cause they want to show solidarity and are hoping for an organic growth of the core without intensifying the fighting and splitting in pro/against camps  Roll Eyes  imagine what would that do to a price



Maybe also there is a sense that "if it's not broke, then why fix it?"