If you're currently confused as to why miners like TAAL aren't mining huge blocks despite the large number of transactions being pushed through on BSV...
Look at the average sat/B fees they're accepting.
Remember folks, this is a market...
Post by twetch#2130
Of course it’s a market. But right now ViaBTC are leaving fees on the table at 0.25 sat/b while mining others at the same rate (WeatherSV). They have clearly capped their block size to 1 mb. 🤷♂️ Why 🤔
What the chain says
- Block
- 634 446
- Time
- 2020-05-11T17:10:48Z
- Signer
- 1CZZWy54SvcU5aGZ6X8ip9M5wBu8vMhDsf
- App
- twetch
- Type
- post
- Content type
- text/plain
- Name in tx
- twetch#2130
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
Signed by
1CZZWy54SvcU5aGZ6X8ip9M5wBu8vMhDsf VerifiedReplies (7)
I'd bet they haven't invested in the software required to manage transactions they put into their blocks, so they've capped the size to 1MB in order to reduce expenses... They're after the subsidy, not the fees. It's easier for them that way.
That is the sort of miner that will die out over the next ~4-8 years.
Depends on how quickly transaction volume rises...
Yep short term gain they seem to be going for. Sad to see tbh. They were doing 8mb blocks fairly consistently a while back, not sure if they went higher than that though. 🤞 we see txs volume increase massively forcing them to alter course.
I believe right now they have seen fees are rather low (0.25 sat/B) so, using their relatively high hash power, they're trying to slow the flow of transactions so that consumers bid transaction fees up.
I don't think it'll do them much good, though.