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00:47 < luke-jr> kanzure: I don't know when/if it could ever be activated. It'd probably be a hardfork, so getting consensus for it would be hard.
00:47 < luke-jr> kanzure: but it's a topic that interests me theoretically
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12:24 < SopaXorzTaker> ryan-c, you're there, lol
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13:28 < nona> Zencash, why?
13:29 < nona> Dropping
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22:46 < bramc> Rather off-topic, but andytoshi was interested in this: http://crd-legacy.lbl.gov/~dhbailey/dhbpapers/bbp-formulas.pdf
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23:01 < midnightmagic> dang he left before I could thank him
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23:35 < adam3us> what do people think about fee estimation, is it biased to go up in dollar terms other things being equal, if USDBTC increases? the fee estimation is automated market referring backwards to recent satoshis/byte rates. samson has made this point a few times and now I am wondering if this even is behind some fee increases
23:35 < adam3us> the only way it falls is if individuals override wallet defaults arrived at via fee market esimation, and maybe that's a small enough effect to not have much hysteresis.
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23:52 < kanzure> adam3us: you want some anti-hysteria fee estimation protection?
23:53 < adam3us> seems like fee estimation could usefully take into account a BTCUSD price feed. I am supposing at least the core one would not because what would be the price feed.
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23:54 < sipa> adam3us: what does BTCUSD have to do with it?
23:56 < adam3us> sipa so samson's theory was that automated fee estimation, looking only at historic sat/byte would automatically grow in USD terms as BTCUSD increased.  at $300 BTCUSD a 50c fee feels high but acceptable, at $3000 BTCUSD a $5 fee seems to high for some use cases.
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23:57 < sipa> adam3us: so? free market
23:57 < sipa> if the fee is too high, fewer people will pay it
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23:58 < adam3us> sipa but it's a machine market. if the human feedback loop is too weak, and people grumble but dont know how or service doesnt provide option etc for most users, then the hysteresis maybe isnt enough to not artificially push the fees up, just via unlinked to USD automation.
23:59 < sipa> but BTCUSD doesn't even enter the picture
23:59 < sipa> i don't see how you could even use it
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23:59 < adam3us> sipa i know. how you would use it is overlay historic USD price on the sat/byte so it's c/kB or what have you.
--- Log closed Fri Jun 09 00:00:17 2017