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Is there a mechanism to prevent fees from spiraling up?

Bitcoin Reddit

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Assuming we achieve enough adoption to be used as payment gateway for more than half of the world commerce, what prevents corporations to front-run transactions by paying higher fees, keeping competitors (and retail) pinned down?

Imagine Corporation A paying higher fees than Corporation B to front-run their transactions, Corporation B notices and pays higher fees, and so forth. Little Jimmy wants to send grandma $100 for her diabetes medicine, which is suddenly stuck in this bidding war.

Is there a way for preventing "ransoming" transactions if you have enough money to do so? Or are we just relying on people's good faith? I do realize that people will always try to pay the lowest fee possible, but if Intel can fuck AMD by locking their transaction to acquire X or Y behind a fee wall, they could.

I do remember waiting almost a month for a tx to complete after China exiled its miners, for example.

submitted by /u/OMFGROFLMAO2
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