From: Peter Todd <pete@petertodd•org>
To: "Jorge Timón" <jtimon@jtimon•cc>
Cc: Bitcoin Dev <bitcoin-development@lists•sourceforge.net>
Subject: Re: [Bitcoin-development] Block Size Increase
Date: Thu, 7 May 2015 13:29:56 -0400 [thread overview]
Message-ID: <20150507172956.GB6033@savin.petertodd.org> (raw)
In-Reply-To: <CABm2gDozyxovazcNEjWsRK0KzNJotWTg9X4m3aOfx7Gr_KprxQ@mail.gmail.com>
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On Thu, May 07, 2015 at 06:21:50PM +0200, Jorge Timón wrote:
> On Thu, May 7, 2015 at 4:52 PM, Gavin Andresen <gavinandresen@gmail•com> wrote:
> > I would very much like to find some concrete course of action that we can
> > come to consensus on. Some compromise so we can tell entrepreneurs "THIS is
> > how much transaction volume the main Bitcoin blockchain will be able to
> > support over the next eleven years."
>
> Mhmm, I hadn't thought about this. This makes sense and actually
> explains the urgency on taking a decision better than anything else
> I've heard.
I've spent a lot of time talking to companies about this, and the
problem is telling them that isn't actually very useful; knowing the
supply side of the equation isn't all that useful if you don't know the
demand side. Problem is we don't really have a good handle on what
Bitcoin will be used for in the future, or even for that matter, what
it's actually being used for right now.
As we saw with Satoshidice before and quite possibly will see with smart
contracts (escrows, futures, etc) it's easy for a relatively small
number of use cases to drive a significant amount of transaction volume.
Yet, as Wladimir and others point out, the fundemental underlying
architecture of the blockchain has inherently poor O(n^2) scaling, so
there's always some level of demand where it breaks, and/or incentivizes
actors in the space to push up against "safety stops" like soft
blocksize limits and get them removed.
Note how the response previously to bumping up against soft policy
limits was highly public calls(1) at the first hint of touble: "Mike
Hearn: Soft block size limit reached, action required by YOU"
1) https://bitcointalk.org/index.php?topic=149668.0
--
'peter'[:-1]@petertodd.org
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next prev parent reply other threads:[~2015-05-07 17:30 UTC|newest]
Thread overview: 116+ messages / expand[flat|nested] mbox.gz Atom feed top
2015-05-06 22:12 Matt Corallo
2015-05-06 22:30 ` slush
2015-05-06 23:06 ` Eric Lombrozo
2015-05-06 22:44 ` Tier Nolan
2015-05-06 23:12 ` Matt Corallo
2015-05-06 23:33 ` Tier Nolan
2015-05-06 23:41 ` Matt Corallo
2015-05-07 2:16 ` Peter Todd
2015-05-06 23:11 ` Matt Whitlock
2015-05-06 23:13 ` Matt Corallo
2015-05-07 0:00 ` Tom Harding
2015-05-07 0:07 ` Bryan Bishop
2015-05-07 0:37 ` Gregory Maxwell
2015-05-07 1:49 ` Peter Todd
2015-05-07 3:03 ` Justus Ranvier
2015-05-08 11:02 ` Thomas Zander
2015-05-08 20:17 ` Aaron Voisine
2015-05-07 3:47 ` Pieter Wuille
2015-05-07 9:25 ` Mike Hearn
2015-05-07 10:12 ` Peter Todd
2015-05-07 10:42 ` Btc Drak
2015-05-07 10:52 ` Jorge Timón
2015-05-07 11:15 ` Andrew
2015-05-07 11:29 ` Mike Hearn
2015-05-07 12:26 ` Jorge Timón
2015-05-07 14:05 ` Mike Hearn
2015-05-07 14:18 ` Bryan Bishop
2015-05-07 14:22 ` Peter Todd
2015-05-07 14:40 ` Peter Todd
2015-05-07 14:52 ` Gavin Andresen
2015-05-07 14:56 ` Peter Todd
2015-05-07 15:04 ` Alex Morcos
2015-05-07 15:09 ` Jeff Garzik
2015-05-07 15:12 ` Mike Hearn
2015-05-07 15:17 ` Jeff Garzik
2015-05-07 15:29 ` Mike Hearn
2015-05-07 15:35 ` Jeff Garzik
2015-05-07 16:18 ` Justus Ranvier
2015-05-07 16:21 ` Jorge Timón
2015-05-07 17:29 ` Peter Todd [this message]
2015-05-07 19:37 ` Mike Hearn
2015-05-07 19:44 ` Jérémie Dubois-Lacoste
2015-05-07 20:20 ` Jérémie Dubois-Lacoste
2015-05-07 15:58 ` Matthew Mitchell
2015-05-07 16:47 ` Matthew Mitchell
2015-05-07 17:26 ` Matt Corallo
[not found] ` <CABsx9T2vAQyZODRE9apu0R1n=LybssQcuTYD7P3mAQH_Fv6QCQ@mail.gmail.com>
2015-05-07 17:40 ` [Bitcoin-development] Fwd: " Gavin Andresen
2015-05-07 17:43 ` [Bitcoin-development] " Mike Hearn
2015-05-07 18:03 ` Btc Drak
2015-05-07 18:06 ` Mike Hearn
2015-05-07 18:21 ` Ross Nicoll
2015-05-07 18:40 ` Gavin Costin
2015-05-07 18:46 ` Btc Drak
2015-05-07 19:31 ` Bernard Rihn
2015-05-07 19:31 ` Alan Reiner
2015-05-07 19:54 ` Jeff Garzik
2015-05-07 19:59 ` Justus Ranvier
2015-05-08 1:40 ` Tom Harding
2015-05-08 2:09 ` Jeff Garzik
2015-05-08 5:13 ` Tom Harding
2015-05-08 9:43 ` Mike Hearn
2015-05-08 15:23 ` Alan Reiner
2015-05-08 14:59 ` Alan Reiner
2015-05-08 15:49 ` Jeff Garzik
2015-05-13 10:37 ` Oliver Egginger
2015-05-13 11:25 ` Angel Leon
2015-05-08 17:17 ` Andrew
2015-05-08 17:51 ` Alan Reiner
[not found] ` <CADZB0_bK+YsK8sN-di2pynvjsq5VjSvnEu0-cCGhPqFunyVm7Q@mail.gmail.com>
2015-05-09 12:02 ` Andrew
2015-05-09 12:53 ` Justus Ranvier
2015-05-09 18:33 ` Andrew
2015-05-08 1:51 ` Joel Joonatan Kaartinen
2015-05-08 3:41 ` Peter Todd
2015-05-07 18:38 ` Chris Wardell
2015-05-07 18:55 ` Alex Mizrahi
2015-05-07 18:59 ` Ross Nicoll
2015-05-07 19:03 ` Matt Corallo
2015-05-07 19:13 ` Jeff Garzik
2015-05-07 19:34 ` Mike Hearn
2015-05-07 21:29 ` Matt Corallo
2015-05-07 23:05 ` 21E14
2015-05-07 15:33 ` Jorge Timón
2015-05-07 16:11 ` Mike Hearn
2015-05-07 16:47 ` Jorge Timón
2015-05-07 16:59 ` Gavin Andresen
2015-05-07 17:42 ` Peter Todd
2015-05-07 18:05 ` Jorge Timón
2015-05-07 19:57 ` Btc Drak
2015-05-07 15:39 ` Btc Drak
2015-05-07 13:02 ` Peter Todd
2015-05-07 19:14 ` Matt Corallo
2015-05-07 11:55 ` Dave Hudson
2015-05-07 13:40 ` Jorge Timón
2015-05-08 4:46 ` Tom Harding
2015-05-07 14:04 ` Jeff Garzik
2015-05-07 14:32 ` Peter Todd
2015-05-07 14:38 ` Justus Ranvier
2015-05-07 14:49 ` Peter Todd
2015-05-07 15:13 ` Justus Ranvier
2015-05-07 15:25 ` Peter Todd
2015-05-07 15:04 ` Jeff Garzik
2015-05-07 15:16 ` Justus Ranvier
2015-05-07 15:27 ` Jeff Garzik
2015-05-07 15:33 ` Justus Ranvier
2015-05-07 15:47 ` Jeff Garzik
2015-05-07 15:50 ` Justus Ranvier
2015-05-07 11:20 ` Wladimir J. van der Laan
2015-05-07 11:30 ` Eric Lombrozo
2015-05-07 15:56 ` Jeff Garzik
2015-05-07 16:13 ` Mike Hearn
2015-05-07 16:54 John Bodeen
2015-05-08 20:38 Raystonn .
2015-05-08 20:40 ` Mark Friedenbach
2015-05-08 20:51 Raystonn
2015-05-08 20:55 ` Mark Friedenbach
2015-05-08 21:01 Raystonn
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