From: Gavin <gavinandresen@gmail•com>
To: Matt Whitlock <bip@mattwhitlock•name>
Cc: "bitcoin-dev@lists•linuxfoundation.org"
<bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] Consensus based block size retargeting algorithm (draft)
Date: Fri, 28 Aug 2015 18:24:01 -0400 [thread overview]
Message-ID: <A30CC2E3-A769-445C-95A2-35B963EFC283@gmail.com> (raw)
In-Reply-To: <2081355.cHxjDEpgpW@crushinator>
With this proposal, how much would it cost a miner to include an 'extra' 500-byte transaction if the average block size is 900K and it costs the miner 20BTC in electricity/capital/etc to mine a block?
If my understanding of the proposal is correct, it is:
500/900000 * 20 = 0.11111 BTC
... Or $2.50 at today's exchange rate.
That seems excessive.
--
Gavin Andresen
> On Aug 28, 2015, at 5:15 PM, Matt Whitlock via bitcoin-dev <bitcoin-dev@lists•linuxfoundation.org> wrote:
>
> This is the best proposal I've seen yet. Allow me to summarize:
>
> • It addresses the problem, in Jeff Garzik's BIP 100, of miners selling their block-size votes.
> • It addresses the problem, in Gavin Andresen's BIP 101, of blindly trying to predict future market needs versus future technological capacities.
> • It avoids a large step discontinuity in the block-size limit by starting with a 1-MB limit.
> • It throttles changes to ±10% every 2016 blocks.
> • It imposes a tangible cost (higher difficulty) on miners who vote to raise the block-size limit.
> • It avoids incentivizing miners to vote to lower the block-size limit.
>
> However, this proposal currently fails to answer a very important question:
>
> • What is the mechanism for activation of the new consensus rule? It is when a certain percentage of the blocks mined in a 2016-block retargeting period contain valid block-size votes?
>
>
> https://github.com/btcdrak/bips/blob/bip-cbbsra/bip-cbbrsa.mediawiki
>
>
>> On Friday, 28 August 2015, at 9:28 pm, Btc Drak via bitcoin-dev wrote:
>> Pull request: https://github.com/bitcoin/bips/pull/187
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev@lists•linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
next prev parent reply other threads:[~2015-08-28 22:24 UTC|newest]
Thread overview: 26+ messages / expand[flat|nested] mbox.gz Atom feed top
2015-08-21 22:22 Btc Drak
2015-08-21 23:17 ` Paul Sztorc
2015-08-22 0:06 ` Ahmed Zsales
2015-08-28 20:28 ` Btc Drak
2015-08-28 21:15 ` Matt Whitlock
2015-08-28 22:24 ` Gavin [this message]
2015-08-28 23:35 ` Chris Pacia
2015-08-28 23:38 ` Mark Friedenbach
2015-08-28 23:42 ` Matt Whitlock
2015-08-28 23:42 ` Chris Pacia
2015-08-29 0:00 ` Jorge Timón
2015-08-29 0:29 ` Mark Friedenbach
2015-08-29 10:15 ` Btc Drak
2015-08-29 17:51 ` Eric Lombrozo
2015-08-29 19:13 ` Natanael
2015-08-29 19:03 ` jl2012
2015-08-29 20:41 ` Jorge Timón
2015-08-30 17:13 ` jl2012
2015-08-30 18:56 ` Jorge Timón
2015-08-31 18:50 ` jl2012
2015-08-28 23:46 ` Btc Drak
2015-08-29 9:15 ` Elliot Olds
2015-08-28 23:38 ` Btc Drak
2015-08-28 23:36 ` Btc Drak
2015-08-28 23:44 ` Jorge Timón
2015-08-29 9:38 ` jl2012
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