From: Peter Todd <pete@petertodd•org>
To: Hector Chu <hectorchu@gmail•com>
Cc: Hector Chu via bitcoin-dev <bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] Voting by locking coins
Date: Sat, 08 Aug 2015 15:10:54 +0000 [thread overview]
Message-ID: <BB479452-A490-4849-A7FE-8C5B9D837C93@petertodd.org> (raw)
In-Reply-To: <CAAO2FKHAimcD7r1etc-Wy__1KWppYp7_pLdowO77ACDPWnF2ZQ@mail.gmail.com>
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On 8 August 2015 11:03:04 GMT-04:00, Hector Chu <hectorchu@gmail•com> wrote:
>Thanks for this Peter. It is quite long winded and complicated so I
>just
>wanted to clarify one particular point. In John's proposal, are the
>coins
>actually locked up, or are they still freely spendable post-vote?
>Otherwise
>there is no real cost to casting votes. Locking coins up is related to
>the
>time-value of money and has a cost the longer they are locked up for.
John Dillon's proposal is essentially to have the economic majority give miners *permission* to raise the blocksize; making the vote costly is against the design intent of accurately capturing the broadest possible economic consensus.
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next prev parent reply other threads:[~2015-08-08 15:11 UTC|newest]
Thread overview: 6+ messages / expand[flat|nested] mbox.gz Atom feed top
2015-08-08 6:27 Hector Chu
2015-08-08 6:36 ` Hector Chu
2015-08-08 14:23 ` Peter Todd
2015-08-08 15:03 ` Hector Chu
2015-08-08 15:10 ` Peter Todd [this message]
2015-08-08 15:23 ` Hector Chu
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