So in your opinion, it's not an improvement to the Bitcoin economy if a business buys transactions from a specific miner, paying in fiat, for a non-tangible profit of realized value from the utility of those transactions?
Post by twetch#3375
No it isn't and that doesn't even make sense. How would you buy txs from a miner other than tx fees? Those are satoshis. It's especially bad if a miner are not profit-seeking in bitcoin because that miner doesn't need to maintain the network.
What the chain says
- Block
- 635 657
- Time
- 2020-05-20T00:12:12Z
- Signer
- 1Abd9yJS6mrzMmj1Ni6kjQB9GqtyaNujrm
- App
- twetch
- Type
- post
- Content type
- text/plain
- Name in tx
- twetch#3375
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
Signed by
1Abd9yJS6mrzMmj1Ni6kjQB9GqtyaNujrm VerifiedReplies (14)
"Free" tx on chain, with payment made off-chain. And in that case, I agree, the "need" isn't there, except that the only way to provide the service that's paid for is through the maintenance of the network... Many possibilities exist. Not all are equal.
IMO any miner that profit seeks in fiat can be outcompeted by miners who profit seek in Bitcoin. The Bitcoin profit seeking miners can use certain strategies that give them a big advantage. Miners who profit seek in fiat don't really understand Bitcoin
Profit seeking in fiat circumvents the need to buy BSV for those who don't yet have it. Do not be so quick to dismiss strategies. Think them through. Use your imagination.
They DO need to buy it.