If the amount of computing power for a given cost doubles every two years, then the cost of a given unit of computing power must halve over the same period. (Mead’s Law).
I agree with this statement, except a correction to inflation (our reality nowadays).
The next biggest thing to become too cheap to meter is cryptocurrency transactions. Different layers are being built with lower and lower transaction fees. The next logical step is zero.
Chia network should strive to keep transaction cost as low as possible. This is the critical key to its success. Look at Bitcoin: it cannot be a medium of exchange, because it costs so much to send a transaction, it defeats the purpose. The Eth “gas” prices are catching up.
The “zero” cost of transactions enables the “dust storm” phenomenon. Perhaps Chia blockchain should find a balanced transaction cost that is very cheap and minimum hardware requirements to full nodes that can handle the load.
I’ve actually been adding a small amount to the fee box when I do transfers. Dont know if that ends up in the bin? But I figured someone gets a little in their wallet. I know I wouldn’t say no if I received a little in fee’s.
Guess I see it as Pay it forward. Am I tossing that in the bin? I dont know?
What do you mean in the bin? The farmer that farms that block will get the fees IIRC. I mined a block a couple of weeks ago from a pool, and my 0.25 payout was actually something like 0.2513682 or something. I assumed that a user had added a small fee.
