From: Venzen Khaosan <venzen@mail•bihthai.net>
To: Elliot Olds <elliot.olds@gmail•com>,
Bitcoin Dev <bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] Fees and the block-finding process
Date: Wed, 12 Aug 2015 11:47:43 +0700 [thread overview]
Message-ID: <55CACFEF.1010909@mail.bihthai.net> (raw)
In-Reply-To: <CA+BnGuF_pNrmvqVzdficuGWO7RF8ROa2W4YDkYXCL6ODWE4k=Q@mail.gmail.com>
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On 08/12/2015 10:35 AM, Elliot Olds via bitcoin-dev wrote:
> On Tue, Aug 11, 2015 at 2:51 PM, Pieter Wuille via bitcoin-dev
> <bitcoin-dev@lists•linuxfoundation.org
> <mailto:bitcoin-dev@lists•linuxfoundation.org>> wrote:
>
> On Tue, Aug 11, 2015 at 11:35 PM, Michael Naber
> <mickeybob@gmail•com <mailto:mickeybob@gmail•com>> wrote:
>
> Bitcoin would be better money than current money even if it were a
> bit more expensive to transact, simply because of its other great
> characteristics (trustlessness, limited supply, etc). However...
> it is not better than something else sharing all those same
> characteristics but which is also less expensive. The best money
> will win, and if Bitcoin doesn't increase capacity then it won't
> remain the best.
>
>
> If it is less expensive, it is harder to be reliable (because it's
> easier for a sudden new use case to outbid the available space),
> which is less useful for a payment mechanism.
>
>
> It depends on which use case's reliability that you focus on. For
> any specific use case of Bitcoin, that use case will be more
> reliable with a larger block size (ignoring centralization
> effects).
I read through your message and see the point you're trying to make,
but would like to point out that it is not useful to talk about
hypothetical scenarios involving Bitcoin that include the supposition
"ignoring centralization effects".
Decentralization concerns are fundamental to this innovation, else it
loses its meaning and value. And that's the trade-off that Pieter,
Jorge, Martin, Adam and others have referring to during the past 24
hours: in order to have a secure Bitcoin that is not vulnerable to
centralization, certain sacrifices have to be made and the Consensus
Rule of a relatively small blocksize is the main protection we
currently have.
There are a lot of "larger blocks, more transactions" arguments being
made that overlook this core axiom of decentralization. That is why
the developers and thinkers with the deepest understanding of this
protocol are pointing out the need for another layer on top of
Bitcoin. That is where the scaling can take place to cater for the
use-cases of more txns, quicker txns, remittance, etc. and with it
increased adoption.
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next prev parent reply other threads:[~2015-08-12 4:48 UTC|newest]
Thread overview: 94+ messages / expand[flat|nested] mbox.gz Atom feed top
2015-08-07 14:57 Gavin Andresen
2015-08-07 15:16 ` Pieter Wuille
2015-08-07 15:55 ` Gavin Andresen
2015-08-07 16:28 ` Pieter Wuille
2015-08-07 17:47 ` Ryan Butler
2015-08-07 18:25 ` Mark Friedenbach
2015-08-07 18:57 ` Ryan Butler
2015-08-07 19:07 ` Ryan Butler
2015-08-07 19:15 ` Mark Friedenbach
2015-08-07 20:17 ` Ryan Butler
2015-08-07 20:33 ` Dave Hudson
2015-08-07 18:17 ` jl2012
2015-08-07 18:35 ` Bryan Bishop
2015-08-07 18:36 ` Simon Liu
2015-08-11 23:20 ` Elliot Olds
2015-08-07 17:33 ` Jorge Timón
2015-08-07 22:12 ` Thomas Zander
2015-08-07 23:06 ` Adam Back
2015-08-08 22:45 ` Dave Scotese
2015-08-08 23:05 ` Alex Morcos
2015-08-09 5:52 ` Hector Chu
2015-08-09 10:32 ` Thomas Zander
2015-08-09 10:42 ` Thomas Zander
2015-08-09 20:43 ` Dave Scotese
2015-08-11 17:03 ` Jorge Timón
2015-08-10 11:55 ` Jorge Timón
2015-08-10 12:33 ` Btc Drak
2015-08-10 13:03 ` Jorge Timón
2015-08-10 22:13 ` Thomas Zander
2015-08-11 17:47 ` Jorge Timón
2015-08-11 18:46 ` Michael Naber
2015-08-11 18:48 ` Mark Friedenbach
2015-08-11 18:55 ` Michael Naber
2015-08-11 19:45 ` Jorge Timón
2015-08-11 21:31 ` Michael Naber
2015-08-11 18:51 ` Bryan Bishop
2015-08-11 18:59 ` Michael Naber
2015-08-11 19:27 ` Jorge Timón
2015-08-11 19:37 ` Michael Naber
2015-08-11 19:51 ` Pieter Wuille
2015-08-11 21:18 ` Michael Naber
2015-08-11 21:23 ` Adam Back
2015-08-11 21:30 ` Angel Leon
2015-08-11 21:32 ` Pieter Wuille
2015-08-11 21:34 ` Adam Back
2015-08-11 21:39 ` Michael Naber
2015-08-12 6:10 ` Venzen Khaosan
2015-08-11 22:06 ` Angel Leon
2015-08-11 21:35 ` Michael Naber
2015-08-11 21:51 ` Pieter Wuille
2015-08-12 3:35 ` Elliot Olds
2015-08-12 4:47 ` Venzen Khaosan [this message]
2015-08-14 21:47 ` Elliot Olds
2015-08-12 0:56 ` Tom Harding
2015-08-12 1:18 ` Eric Voskuil
2015-08-12 8:10 ` Thomas Zander
2015-08-12 9:00 ` Jorge Timón
2015-08-12 9:25 ` Thomas Zander
2015-08-11 19:53 ` Jorge Timón
2015-08-11 20:56 ` Michael Naber
2015-08-12 7:54 ` Thomas Zander
2015-08-12 8:01 ` Thomas Zander
[not found] ` <1679272.aDpruqxXDP@coldstorage>
2015-08-12 8:51 ` Jorge Timón
2015-08-12 9:23 ` Thomas Zander
2015-08-12 9:45 ` Jorge Timón
2015-08-12 16:24 ` Thomas Zander
2015-08-17 14:49 ` BitMinter operator
2015-08-17 15:01 ` Peter Todd
2015-08-10 14:12 ` Gavin Andresen
2015-08-10 14:24 ` Alex Morcos
2015-08-10 22:12 ` Thomas Zander
2015-08-10 14:34 ` Pieter Wuille
2015-08-10 22:04 ` Thomas Zander
2015-08-20 14:40 ` Will Madden
2015-08-10 14:55 ` Jorge Timón
2015-08-10 22:09 ` Thomas Zander
2015-08-10 22:52 ` Pieter Wuille
2015-08-10 23:11 ` Pieter Wuille
2015-08-11 5:34 ` Thomas Zander
2015-08-11 6:03 ` Mark Friedenbach
2015-08-11 6:31 ` Thomas Zander
2015-08-11 7:08 ` Mark Friedenbach
2015-08-11 8:38 ` Thomas Zander
2015-08-11 9:14 ` Angel Leon
2015-08-11 19:00 ` Mark Friedenbach
2015-08-11 19:26 ` Michael Naber
2015-08-11 20:12 ` Adam Back
2015-08-12 0:32 ` odinn
2015-08-11 11:10 ` Thomas Zander
2015-08-12 0:18 ` odinn
2015-08-07 21:30 ` Jim Phillips
2015-08-07 18:22 ` Anthony Towns
2015-08-07 18:36 ` Peter R
2015-08-12 1:56 Corey Haddad
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