Topic: What will happen to the transaction fee? - page 2. (Read 3113 times)

Transactions can be relayed if they fits under the free transaction policy. However, the transactions have a very low chance of getting confirmed over the next few blocks. The problem with this is that miners are choosing to accept the transactions with fees first and blocks are mostly filled with them. I sent a transaction without fee and it took weeks to confirm.

we should be thinking about moving the minimum fees down to 100sat/kb. when the fiat valuation rises.

but nah. core wants to push the fee war by introducing 0.0002 fall backs and then average fees etc
rather than letting transactions through and letting pools be instantly reactive to demand and open to decide,

so lets show a scenario where nodes AND pools used the "averaging" instead of reactive

in the future it wont matter what you set in your node. if someone else in the network had their relay fee set to "average" or say 0.00024. this will cause transactions to hop around the network of ethical nodes but then get dropped by the expensive node BEFORE even getting to a pool.

imagine there were 7 hops to reach a Pool from yoUr node, and each node in the relay set a different rate

U->0.00010->0.00012->0.00016->0.00018->0.00020->0.00022->0.00024->P

now imagine you have 1000tx of 0.00011 they get dropped here. and pool never sees it
now imagine you have 1000tx of 0.00019 they get dropped here. and pool never sees it
now imagine you have 1000tx of 0.00023 they get dropped here. and pool never sees it
now imagine you have 1000tx of 0.00024 they get through and pool sees it

whatever node has the highest rate between you and a pool becomes a gatekeeper, keeping cheap transactions from reaching the pool. forcing people to pay more just to be let past the gatekeeper to even be seen by the pool.
enforcing a fee war of a price rise just to be seen even during low demand.

also pools themselves wont just add any tx if demand was low not just because they are not even receiving tx's but also the "average fee" doesnt instantly react. but slowly reacts over a number of blocks. as they are no longer reactive to just add what they please, but now what gets added is based on an "averaging".

now continue imagining the pool only sees transactions over 0.00024(due to average previous demand). and an "average fee" of 3 hours (like 21.co uses) takes upto 18 blocks to bring the average down. meaning pools then makes empty blocks. until the average drops enough to see cheaper transactions

meaning if there were only 4000 sent in one 3 hours segment. where blocks allow 2500tx in per block
where the "average" network fee starts at 0.00024 due to previous demand

now imagine the 4000tx's vary in fee like this:
1000tx of 0.00011
1000tx of 0.00019
1000tx of 0.00023
1000tx of 0.00024

3000 would not even reach the pool straight away due to expensive relayers dropping the tx, treating it as third class citizens

it would look something like this:
block 450,000 - 1000tx (average already at 0.00024) <-the relay network only lets the 1000tx at 0.00024 to reach a pool
block 450,001 - 1000tx (average decreases to 0.00022667) <-the relay network only lets the 1000tx at 0.00023to reach a pool
block 450,002 - 0tx (average decreases to 0.00020148) <-the relay network hasnt let any tx to reach a pool
block 450,003 - 1000tx (average decreases to 0.00018889) <-the relay network only lets the 1000tx at 0.00019 to reach a pool
block 450,004 - 0tx (average decreases to 0.00016371) <-the relay network hasnt let any tx to reach a pool
block 450,005 - 0tx (average decreases to 0.00015111) <-the relay network hasnt let any tx to reach a pool
block 450,006 - 0tx (average decreases to 0.00013852) <-the relay network hasnt let any tx to reach a pool
block 450,007 - 0tx (average decreases to 0.00012593) <-the relay network hasnt let any tx to reach a pool
block 450,008 - 0tx (average decreases to 0.00013333) <-the relay network hasnt let any tx to reach a pool
block 450,009 - 0tx (average decreases to 0.00011334) <-the relay network hasnt let any tx to reach a pool
block 450,010 - 1000tx (average increases to 0.00010074) <-the relay network only lets the 1000tx at 0.00011 to reach a pool

but sticking with the "average" scenario.
ofcourse human emotion would see the 450,002 was empty so the 2000tx that got rejected for the 3rd time. would up their price to get into 450,003
block 450,003 - 2000tx (average decreases to 0.00018889) <-the relay network lets the 2000, >0.00019 tx to reach a pool
and bring the average over 0.00019000

however if pools were instantly reactive to demand. and the relay network was instantly reactive. instead of the stupid concept of averages.
in this low demand scenario all transactions would have been included in 2 blocks..
eg
block 450,000 - 2500tx - includes 1000 at 0.00024, includes 1000 at 0.00023, includes 500 at 0.00019,
block 450,001 - 1500tx - includes 500 at 0.00019, includes 1000 at 0.00011,

not 11 blocks with 7 blocks being empty if just left to wait for averages to drop, or 4 blocks if getting peed off to pay more due to emotional rejection and seeing an empty block

I don't think the tx fee would ever increase to as high as $10, but I'm not quite aware of the workings of why it has been going up in the first place besides the increase in transaction load. I'm worried more about the size of the blockchain growing faster than Moore's Law.