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| kanzure | someone's attempt at mining analysis http://wan.poly.edu/pam2015/papers/23.pdf | 07:11 |
|---|---|---|
| kanzure | "Obviously, a miner prefers places with low electricity price η(t), and will shut down her hardware whenever the profit rate becomes negative." | 07:12 |
| kanzure | uh... | 07:12 |
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| kanzure | "Such a race will automatically end when the profit margin hits zero." | 07:15 |
| kanzure | except this is ignoring the other motivations for mining? | 07:15 |
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| brisque | that they don't make note of the fact that the timestamp on a block isn't reliable makes me question the validity of the rest of it. | 07:19 |
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| brisque | if you're interested in more insanity like that, the neighbourhood pool watch site regularly goes absolutely nuts with the graphs. http://organofcorti.blogspot.nl/ | 07:22 |
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| instagibbs | "obviously" and "clearly" are only used to power through arguments you can't prove | 08:21 |
| fluffypony | instagibbs: obviously that's clear | 08:23 |
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| sipa | ha | 08:24 |
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| instagibbs | that said, some people were discussing death spirals of mining during price crashes. Might make sense to increase coinbase maturity time to further incentivize long-term thinking. (still not clear at all it's a problem) | 08:24 |
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| brisque | if I want to sell my immature coinbase output nothing is stopping me really | 08:25 |
| instagibbs | hmm probably, and now that I think, it may not make any sense anyways. | 08:26 |
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| instagibbs | The idea would be that at least someone would want to make sure mining happens, immature coinbase buyer or otherwise. But the additional incentive to continue mining still may not exist. | 08:27 |
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| instagibbs | aside from what's holding it all together now | 08:28 |
| brisque | keep in mind that the maturity time is just to provide reorg stability, not enforce some sort of continuation of mining | 08:28 |
| instagibbs | off label uses, baby | 08:29 |
| instagibbs | like viagra | 08:29 |
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| instagibbs | I'll think about it some more | 08:29 |
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| instagibbs | Yeah I seriously doubt that "fix" does anything. Myopic greedy miners will still do exactly what they'd do before, afaict | 08:42 |
| brisque | we want miners to be greedy. | 08:43 |
| instagibbs | That's fine. I'm just saying my idea was useless, from what I can tell. I was trying to fix a tragedy of commons issue. | 08:43 |
| instagibbs | Doesn't resolve it, therefore dumb. | 08:44 |
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| instagibbs | The real q is if users sending txns will jack up fees to encourage inclusion in next block if blocks would be spaced out, encouraging miners to get back into mining again. And if miners expect this, then maybe this is moot. | 08:48 |
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| brisque | at least nobody can claim to be surprised | 08:50 |
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| --- Log closed Sat Mar 07 00:00:14 2015 | ||
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