From: Dave Hudson <dave@hashingit•com>
To: Gavin Andresen <gavinandresen@gmail•com>
Cc: Bitcoin Dev <bitcoin-development@lists•sourceforge.net>
Subject: Re: [Bitcoin-development] Long-term mining incentives
Date: Tue, 12 May 2015 17:21:40 +0100 [thread overview]
Message-ID: <6D03480C-C9B9-4CCC-938B-151AC0DD57F0@hashingit.com> (raw)
In-Reply-To: <CABsx9T3AxM3et7hgXx3+Rn3BvhQkF-Cn797sHcyztkMpD1UQmA@mail.gmail.com>
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I think proof-of-idle had a potentially serious problem when I last looked at it. The risk is that a largish miner can use everyone else's idle time to construct a very long chain; it's also easy enough for them to make it appear to be the work of a large number of distinct miners. Given that this would allow them to arbitrarily re-mine any block rewards and potentially censor any transactions then that just seems like a huge security hole?
Cheers,
Dave
> On 12 May 2015, at 17:10, Gavin Andresen <gavinandresen@gmail•com> wrote:
>
> Added back the list, I didn't mean to reply privately:
>
> Fair enough, I'll try to find time in the next month or three to write up four plausible future scenarios for how mining incentives might work:
>
> 1) Fee-supported with very large blocks containing lots of tiny-fee transactions
> 2) Proof-of-idle supported (I wish Tadge Dryja would publish his proof-of-idle idea....)
> 3) Fees purely as transaction-spam-prevention measure, chain security via alternative consensus algorithm (in this scenario there is very little mining).
> 4) Fee supported with small blocks containing high-fee transactions moving coins to/from sidechains.
>
> Would that be helpful, or do you have some reason for thinking that we should pick just one and focus all of our efforts on making that one scenario happen?
>
> I always think it is better, when possible, not to "bet on one horse."
>
>
> On Tue, May 12, 2015 at 10:39 AM, Thomas Voegtlin <thomasv@electrum•org <mailto:thomasv@electrum•org>> wrote:
> Le 12/05/2015 15:44, Gavin Andresen a écrit :
> > Ok, here's my scenario:
> >
> > https://blog.bitcoinfoundation.org/a-scalability-roadmap/ <https://blog.bitcoinfoundation.org/a-scalability-roadmap/>
> >
> > It might be wrong. I welcome other people to present their road maps.
> >
>
> [answering to you only because you answered to me and not to the list;
> feel free to repost this to the list though]
>
> Yes, that's exactly the kind of roadmap I am asking for. But your blog
> post does not say anything about long term mining incentives, it only
> talks about scalability. My point is that we need the same kind of thing
> for miners incentives.
>
>
>
> --
> --
> Gavin Andresen
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next prev parent reply other threads:[~2015-05-12 16:21 UTC|newest]
Thread overview: 37+ messages / expand[flat|nested] mbox.gz Atom feed top
2015-05-11 16:28 Thomas Voegtlin
2015-05-11 16:52 ` insecurity
2015-05-11 17:29 ` Gavin Andresen
2015-05-12 12:35 ` Thomas Voegtlin
[not found] ` <CABsx9T1h7p3hDr7ty43uxsYs-oNRpndzg=dowST2tXtogxRm2g@mail.gmail.com>
[not found] ` <555210AF.3090705@electrum.org>
2015-05-12 16:10 ` Gavin Andresen
2015-05-12 16:21 ` Dave Hudson [this message]
2015-05-12 21:24 ` Pedro Worcel
2015-05-12 23:48 ` Adam Back
2015-05-13 15:41 ` Gavin Andresen
2015-05-13 20:05 ` Pedro Worcel
2015-05-13 9:49 ` Thomas Voegtlin
2015-05-13 10:14 ` Tier Nolan
2015-05-13 10:31 ` Alex Mizrahi
2015-05-13 11:29 ` Tier Nolan
2015-05-13 12:26 ` Alex Mizrahi
2015-05-13 13:24 ` Gavin
2015-05-13 13:28 ` Tier Nolan
2015-05-13 14:26 ` Alex Mizrahi
2015-05-13 23:46 ` Jorge Timón
2015-05-14 0:11 ` Jorge Timón
2015-05-14 0:48 ` Aaron Voisine
2015-05-14 0:58 ` Pieter Wuille
2015-05-14 1:13 ` Aaron Voisine
2015-05-14 1:19 ` Pieter Wuille
2015-05-14 1:31 ` Aaron Voisine
2015-05-14 2:34 ` Aaron Voisine
2015-05-16 20:35 ` Owen Gunden
2015-05-16 22:18 ` Tom Harding
2015-05-17 1:08 ` Aaron Voisine
2015-05-14 0:44 ` Melvin Carvalho
2015-05-25 18:31 ` Mike Hearn
2015-05-26 18:47 ` Thomas Voegtlin
2015-05-27 21:59 ` Mike Hearn
2015-05-27 22:22 ` Gregory Maxwell
2015-05-28 10:30 ` Mike Hearn
2015-05-13 17:49 Damian Gomez
2015-05-18 2:29 Michael Jensen
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