Subject: Re: [Bitcoin-development] we can all relax now

From: Peter Todd <[email-masked]>
Date: Thu, 7 Nov 2013 08:09:20 -0500

On Wed, Nov 06, 2013 at 10:59:28PM -0600, Kyle Jerviss wrote:
> Each block that you solve has a reward.  In practice, some blocks
> will be orphaned, so the expected reward is slightly less than the
> nominal reward.  Each second that you delay publishing a block, the
> expected reward drops somewhat.

You don't understand how to read papers.

A good author will state his assumptions. For instance my third
paragraph read:

    Now in a purely inflation subsidy environment, where I don't care about
    the other miners success, of course I should publish. However, if my
    goals are to find *more* blocks than the other miners for whatever
    reason, maybe because transaction fees matter or I'm trying to get
    nLockTime'd announce/commit fee sacrifices, it gets more complicated.

Now that you understand the assumptions made, you can attack the paper
in one of two ways:

1) Show it's wrong.

2) Show its assumptions make it irrelevant.

You've done neither.

-- 
'peter'[:-1]@petertodd.org
0000000000000006d61eb32f3643aa30c2f9647e4e758af84b03abc43f09959f