From: Eric Voskuil <eric@voskuil•org>
To: praxeology_guy <praxeology_guy@protonmail•com>,
Bitcoin Protocol Discussion
<bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] A Small Modification to Segwit
Date: Sat, 8 Apr 2017 11:51:32 -0700 [thread overview]
Message-ID: <81ee68f1-6f02-5383-7b95-f656587d89ac@voskuil.org> (raw)
In-Reply-To: <EGttip9r0Zojmerlfqy3dd3f-hwiADc5n908xjPIQhNZv7_yvybiqvU-iKQ0mSDSFfRBrd9gszWzBHTXujUBTNPE44CMXLpXKIj40iHjWoA=@protonmail.com>
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On 04/08/2017 11:15 AM, praxeology_guy via bitcoin-dev wrote:
> ASICBOOST causes Bitcoin's PoW to become more memory/latency
> throttled instead of raw computation throttled.
>
> There is the equation: Power Cost + Captial Rent + Labor ~= block
> reward + fees
>
> Capital Rent is a barrier to entry, and hence in desiring a more
> distributed system, we would like to minimize the Capital Rent
> portion of the equation.
>
> Resolving memory/latency throttle requires a greater Captial Rent
> than raw computation throttle.
>
> Hence (agreeing with Luke), ASICBOOST is not desirable, even if it
> wasn't a government enforced monopoly on mining.
>
> Please let me know if I made a mistake.
Electric power is not an abstraction, it's the output of machines.
What you are referring to as Power Cost typically consists of a higher
rent component than computing hardware, where rent is the sharing of a
resource by multiple people. So by your reasoning you appear to have
drawn the wrong conclusion.
e
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next prev parent reply other threads:[~2017-04-08 18:50 UTC|newest]
Thread overview: 41+ messages / expand[flat|nested] mbox.gz Atom feed top
2017-04-07 20:06 Jimmy Song
2017-04-08 0:05 ` Jimmy Song
2017-04-08 14:59 ` Luke Dashjr
2017-04-08 15:17 ` Jimmy Song
2017-04-08 16:05 ` Luke Dashjr
2017-04-08 16:16 ` Jimmy Song
2017-04-08 16:19 ` Timo Hanke
2017-04-08 1:48 ` praxeology_guy
2017-04-08 2:46 ` Jimmy Song
2017-04-08 8:33 ` Pavel Moravec
2017-04-08 14:35 ` Jimmy Song
2017-04-08 16:38 ` Pavel Moravec
2017-04-08 22:19 ` Jimmy Song
2017-04-08 18:15 ` praxeology_guy
2017-04-08 18:51 ` Eric Voskuil [this message]
2017-04-08 20:38 ` praxeology_guy
2017-04-09 11:46 ` Jorge Timón
2017-04-08 16:27 ` Jorge Timón
2017-04-08 17:22 ` Jorge Timón
2017-04-08 22:26 ` Jimmy Song
2017-04-09 11:48 ` Jorge Timón
2017-04-09 14:01 ` Jimmy Song
[not found] ` <CABm2gDqfsBREj2x5Uz9hxwt-Y6m=KHd2-hRw4gV0CbO+-8B0dg@mail.gmail.com>
2017-04-10 9:16 ` Jorge Timón
2017-04-09 18:44 ` Erik Aronesty
2017-04-09 21:16 ` Jared Lee Richardson
2017-04-09 23:51 ` David Vorick
2017-04-10 0:20 ` Erik Aronesty
2017-04-10 1:45 ` Thomas Daede
2017-04-10 14:34 ` Bram Cohen
2017-04-10 14:46 ` Bram Cohen
2017-04-10 15:25 ` g
2017-04-10 18:17 ` Erik Aronesty
2017-04-11 2:39 ` g
2017-04-11 18:39 ` Staf Verhaegen
2017-04-11 9:31 ` Sancho Panza
2017-04-11 13:00 ` Jorge Timón
2017-04-11 7:59 ` Tom Zander
2017-04-11 13:25 ` Sancho Panza
2017-04-11 14:40 ` Jimmy Song
2017-04-11 21:25 ` Jorge Timón
2017-04-11 23:42 ` Jimmy Song
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