Topic: Market equilibrium for floating fees in 0.9 (Read 725 times)
It is an interesting question. I fear a new currency will be needed for microtransactions if this leads to higher fees. Considering the original promise of Bitcoin and the existing alternatives, I do not think people will accept fees higher than $0.1 (~0.1 mBTC) for smaller payments.
Version 0.9 of the bitcoin-qt client will include a "floating fee" enhancement where instead of having the suggested fee hard-coded as it is now, it'll estimate the necessary fee dynamically based on activity on the network. See https://github.com/gavinandresen/bitcoin-git/commit/656f8a7f2cf0c83ed9ac172f4d5ec555f90fed73 . So now I'm curious to know what we can expect when 0.9 goes live. Has anybody done or seen any analysis of what the market equilibrium might be ?
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