Miners are in it for the money.
That’s what will direct their behaviour.
Don’t be fooled otherwise…
Miners are in it for the money.
That’s what will direct their behaviour.
Don’t be fooled otherwise…
Not this one, Mr. Overly Broad Generalizations
General comment where general behaviour will make the difference.
Exactly and the incentives allow them to max their revenue if they behave rationally, meaning choosing transactions with higher fees. But now there's a parallel market outside of the protocol that directly competes with financial transactions in which 1 sat is not worth 1 sat anymore: pay a miner in FIAT and they'll mine a full block of JPEGs for you, without any financial transaction because the JPEGer knows they can "resell" each JPEG from that block at a much higher value.
It doesn't break the software, but it changes the incentives for sure, especially if it lasts.