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For example, the influential Bitcoin developer Greg Maxwell has said quite plainly, “I don’t think that transaction fees mattering is a failing-- it’s success!”2 Mark Friedenbach, another Bitcoin developer, stated that “Slow confirmation, high fees will be the norm in any safe outcome.”3 When the network nearly ground to a halt in December 2017, and the average transaction fee reached more than $50, they celebrated by “pulling out the champagne”4 and were pleased to see the congestion,...