That is the sort of miner that will die out over the next ~4-8 years.
Depends on how quickly transaction volume rises...
Post by twetch#2130
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.
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 (4)
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.
Still focused on the subsidy, but I'm guessing this is their fee based strategy, and if that fails, they don't much care because the subsidy is still so high.
It’s great to see a txs fee market form. We just need massive volume now to push it further. 6.25 is still a high subsidy. But at a point they will be forced to snap up fees too. When this occurs & how long it takes is the interesting part.
I couldn't agree more.
We need sustainable volume as soon as possible. Real use is the fuel for the entire Bitcoin incentive engine.