From: Eric Lombrozo <elombrozo@gmail•com>
To: Jameson Lopp <jameson.lopp@gmail•com>
Cc: bitcoin-dev@lists•linuxfoundation.org
Subject: Re: [bitcoin-dev] Bitcoin Core and hard forks
Date: Thu, 23 Jul 2015 12:14:50 -0700 [thread overview]
Message-ID: <6F436293-9E2B-461C-B105-FC4CF9EBFC69@gmail.com> (raw)
In-Reply-To: <CADL_X_exckh5T2BfzPEp26fPR3TD69QarwroDEdS_9wtnKbf+g@mail.gmail.com>
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> On Jul 23, 2015, at 11:10 AM, Jameson Lopp <jameson.lopp@gmail•com> wrote:
>
> Larger block sizes don't scale the network, they merely increase how much load we allow the network to bear.
Very well put, Jameson. And the cost of bearing this load must be paid for. And unless we’re willing to accept that computational resources are finite and subject to the same economic issues as any other finite resource, our incentive model collapses the security of the network will be significantly at risk. Whatever your usability concerns may be regarding fees, when the security model’s busted usability issues are moot.
Larger blocks support more transactions…but they also incur Ω(n) overhead in bandwidth, CPU, and space. These are finite resources that must be paid for somehow…and as we all already know miners are willing to cut corners on all this and push the costs onto others (not to mention wallets and online block explorers). And who can really blame them? It’s rational behavior given the skewed incentives.
> On the flip side, the scalability proposals will still require larger blocks if we are ever to support anything close to resembling "mainstream" usage. This is not an either/or proposition - we clearly need both.
Mainstream usage of cryptocurrency will be enabled primarily by direct party-to-party contract negotiation…with the use of the blockchain primarily as a dispute resolution mechanism. The block size isn’t about scaling but about supply and demand of finite resources. As demand for block space increases, we can address it either by increasing computational resources (block size) or by increasing fees. But to do the former we need a way to offset the increase in cost by making sure that those who contribute said resources have incentive to do so.
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next prev parent reply other threads:[~2015-07-23 19:14 UTC|newest]
Thread overview: 86+ messages / expand[flat|nested] mbox.gz Atom feed top
[not found] <CAPg+sBgs-ouEMu=LOVCmOyCGwfM1Ygxooz0shyvAuHDGGZYfJw@mail.gmail.com>
2015-07-22 16:52 ` Pieter Wuille
2015-07-22 17:18 ` Ross Nicoll
2015-07-22 17:32 ` Milly Bitcoin
2015-07-22 18:45 ` Bryan Cheng
2015-07-22 17:33 ` Jeff Garzik
2015-07-22 18:01 ` Jeff Garzik
2015-07-22 18:03 ` Alex Morcos
2015-07-22 18:24 ` Jeff Garzik
2015-07-23 12:17 ` Jorge Timón
2015-07-23 16:17 ` Tom Harding
2015-07-23 16:28 ` Gavin Andresen
2015-07-23 16:50 ` cipher anthem
2015-07-23 17:14 ` Robert Learney
2015-07-23 18:21 ` Eric Lombrozo
2015-07-23 18:47 ` Jorge Timón
2015-07-23 17:43 ` Eric Lombrozo
2015-07-23 18:10 ` Jameson Lopp
2015-07-23 19:14 ` Eric Lombrozo [this message]
2015-07-23 19:35 ` Gavin Andresen
2015-07-23 19:39 ` Eric Lombrozo
2015-07-23 19:51 ` Eric Lombrozo
2015-07-23 19:52 ` Jameson Lopp
2015-07-23 20:26 ` Jorge Timón
2015-07-23 20:52 ` Eric Lombrozo
2015-07-23 23:42 ` Benedict Chan
[not found] ` <42BF7FEB-320F-43BE-B3D9-1D76CB8B9975@gmai>
2015-07-23 23:57 ` Eric Lombrozo
2015-07-24 0:04 ` Eric Lombrozo
2015-07-24 0:20 ` Simon Liu
2015-07-24 0:22 ` Jean-Paul Kogelman
2015-07-24 0:32 ` Eric Lombrozo
2015-07-24 0:38 ` Eric Lombrozo
2015-07-24 0:45 ` Jean-Paul Kogelman
2015-07-24 0:49 ` Jean-Paul Kogelman
2015-07-24 0:53 ` Peter Todd
2015-07-24 1:03 ` Jean-Paul Kogelman
2015-07-24 1:08 ` Eric Lombrozo
2015-07-24 1:25 ` Jean-Paul Kogelman
2015-07-24 1:28 ` Eric Lombrozo
2015-07-24 1:37 ` Eric Lombrozo
2015-07-24 1:42 ` Jean-Paul Kogelman
2015-07-24 1:55 ` Eric Lombrozo
2015-07-24 2:12 ` [bitcoin-dev] Bitcoin, Perceptions, and Expectations Raystonn .
2015-07-24 8:48 ` Jonas Schnelli
2015-07-24 9:42 ` Jorge Timón
2015-07-24 14:37 ` Vincent Truong
2015-07-25 2:18 ` gb
2015-07-25 11:22 ` Slurms MacKenzie
2015-07-25 15:04 ` Thomas Kerin
2015-07-24 0:56 ` [bitcoin-dev] Bitcoin Core and hard forks Eric Lombrozo
2015-07-24 1:05 ` Jean-Paul Kogelman
2015-07-23 18:12 ` Slurms MacKenzie
2015-07-23 18:57 ` Mike Hearn
2015-07-23 17:51 ` Jorge Timón
2015-07-24 6:30 ` Tom Harding
2015-07-24 9:24 ` Jorge Timón
2015-07-24 22:50 ` Tom Harding
2015-07-28 11:29 ` Jorge Timón
2015-07-28 11:32 ` Jorge Timón
2015-07-28 16:44 ` Tom Harding
2015-07-28 17:33 ` Jorge Timón
2015-07-22 19:17 ` Eric Lombrozo
2015-07-22 21:43 ` Mike Hearn
2015-07-22 21:56 ` Eric Lombrozo
2015-07-22 22:01 ` Mike Hearn
2015-07-22 22:09 ` Eric Lombrozo
2015-07-23 1:53 ` Eric Lombrozo
2015-07-22 22:30 ` Jeff Garzik
2015-07-23 0:27 ` Tom Harding
2015-07-23 0:37 ` Eric Lombrozo
2015-07-23 4:40 ` Edmund Edgar
2015-07-27 12:08 ` Peter Todd
2015-07-27 12:44 ` Milly Bitcoin
2015-07-22 22:40 Raystonn
2015-07-22 23:42 ` Cory Fields
2015-07-22 23:53 ` Eric Lombrozo
2015-07-23 0:05 ` Cory Fields
2015-07-23 0:13 ` Eric Lombrozo
2015-07-23 0:34 ` Cory Fields
2015-07-23 0:43 ` Eric Lombrozo
2015-07-23 7:24 ` Ross Nicoll
2015-07-23 0:49 ` Eric Voskuil
2015-07-23 18:12 ` Jorge Timón
[not found] <BA7ACCE1-81B2-4AC1-B6DD-7A856FD27D52@gmail.com>
2015-07-23 8:24 ` Gareth Williams
2015-07-27 17:05 Alice Larson
2015-07-27 17:22 ` Eric Voskuil
2015-07-28 4:55 ` Wladimir J. van der Laan
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