2015-03-06.log

--- Log opened Fri Mar 06 00:00:13 2015
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kanzuresomeone's attempt at mining analysis http://wan.poly.edu/pam2015/papers/23.pdf07:11
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
kanzureuh...07:12
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kanzure"Such a race will automatically end when the profit margin hits zero."07:15
kanzureexcept this is ignoring the other motivations for mining?07:15
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brisquethat 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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brisqueif 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 prove08:21
fluffyponyinstagibbs: obviously that's clear08:23
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sipaha08:24
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instagibbsthat 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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brisqueif I want to sell my immature coinbase output nothing is stopping me really08:25
instagibbshmm probably, and now that I think, it may not make any sense anyways.08:26
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instagibbsThe 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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instagibbsaside from what's holding it all together now08:28
brisquekeep in mind that the maturity time is just to provide reorg stability, not enforce some sort of continuation of mining08:28
instagibbsoff label uses, baby08:29
instagibbslike viagra08:29
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instagibbsI'll think about it some more08:29
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instagibbsYeah I seriously doubt that "fix" does anything. Myopic greedy miners will still do exactly what they'd do before, afaict08:42
brisquewe want miners to be greedy.08:43
instagibbsThat'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
instagibbsDoesn't resolve it, therefore dumb.08:44
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instagibbsThe 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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brisqueat least nobody can claim to be surprised08:50
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--- Log closed Sat Mar 07 00:00:14 2015

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