Hi all, this thread is to discuss about EIP-3143
I support this 100%. Without this the network hashrate looks to drop by 40-50% once EIP1559 Is implemented.
That will cause hashrate to centralize where electricity is cheapest (CHINA)
I oppose this on the basis that our social contract of minimally viable issuance, while leaving room for minor changes to the plus side, is very clear that it does not enable arbitrary issuance increases without an ability to demonstrate a clear and present threat to the network itself. Hard forks at the time of PoW sunset / ETH 1 > ETH2 merge do not represent a threat at all, but a natural freedom to oppose any change in the protocol. We should not fear hard forks, even if the result is an Ethereum PoW chain remaining with the Ethereum full PoS chain in place. The market is and should be the ultimate arbiter there.
Since there is no clear threat to the network presented by the author as of today to warrant this change, this EIP should not be merged until such time as a demonstrable threat exists.
Further, the network is regularly paying in excess of $5m (exceeding $10m multiple times now as well) a day in fees alone to miners, which hardly warrants any consideration for an issuance increase. 1559 aims to fix the asymmetric benefit from usage and the fee market from just miners to the entirety of the ecosystem via fee burns, while committing to still provide a portion and the current block subsidy while Ethereum remains reliant on miners to provide security.