You can raise fees, and that will make more money for miners, but that will simply bring in more miners which will increase the difficulty and make each miner less effective. Queen’s race.
You can play the game of paying mining consortia to include your transactions in blocks, but that will just result in more consortia doing this, less confirmation of normal blocks, and more miners coming in which raises the difficulty which makes each mining consortia less effective. Queen’s race again.
About the only people who profit are power companies. Invest in electric company stocks.
Another option: I’m going to start accepting payment in litecoin and see if I can convert that to bitcoin in large chunks, or buy some of my materials with ltc-cash. No problem confirming transactions there.
Yes. And the fee market competition will continue until people have to start dropping off the BTC blockchain, as the fees become prohibitively expensive for all but the big UTXO movers, and the fee competition spiral means that even high fee transactions don’t get confirmed because even higher fee incoming transactions push them out of the capacity queue.
Notice during the recent BTC pump, a few alt coins have pumped even better, which is not usually the case. Most of these altcoins aren’t of the simple BTC clone type though. So it looks like traders are beginning to speculate on which coin may become a serious contender to the deadlocked BTC development issue.
Published at Sat, 04 Mar 2017 15:05:39 +0000
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