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by 1123581321
4743 days ago
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Collusion is impossible because other miners can work for smaller transaction fees. If it is profitable, someone will do it. If it is not profitable than there is not an unfair collusion to raise fees since the fees can't be undercut. The behavior of clients does influence fees, but consumers using Bitcoin will happily switch to the client that lets them pay the fee they want to pay (talking about the excess fee not the fee described in https://en.bitcoin.it/wiki/Transaction_fees .) |
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Policy by economic (mining) majority could be an issue in the future when the policy directly determines the profits of that majority.