From: Gareth Williams <gacrux@gmail•com>
To: Tier Nolan <tier.nolan@gmail•com>,
Tier Nolan via bitcoin-dev
<bitcoin-dev@lists•linuxfoundation.org>
Cc: "bitcoin-dev@lists•linuxfoundation.org"
<bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] BIP draft: Hardfork bit
Date: Fri, 24 Jul 2015 11:17:34 +1000 [thread overview]
Message-ID: <CAB8D56D-58B0-4FC7-BD40-A1C613D8EBD6@gmail.com> (raw)
In-Reply-To: <CAE-z3OWZGsSS2s1OZU5ScH7C4BcOtCb9mcz62TA7HZQe_=y0uA@mail.gmail.com>
-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA512
>I don't understand the situation here. Is the assumption of a group of
>miners suddenly switching (for example, they realise that they didn't
>intend to support the new rules)?
Or they're economically rational miners, and a large difficulty decrease on the original chain, without an equally large decrease in the value of original chain tokens, has made it profitable to switch?
It's dangerous to assume all miners will continue to support the side they have initially signaled. They're only invested in the chain they mine for a short time (until coinbase maturity.)
If both sides if a fork retain value you'd expect mining to redistribute itself WRT short term profitability at every difficulty adjustment, irrespective of initially signaled support for the fork.
-----BEGIN PGP SIGNATURE-----
Version: APG v1.1.1
iQFABAEBCgAqBQJVsZIuIxxHYXJldGggV2lsbGlhbXMgPGdhY3J1eEBnbWFpbC5j
b20+AAoJEEY5w2E3jkVEN7YIAIlgaAahHCssIEXYzqB1gRKYRP4fPsq8NtOMrkki
dc1gfKmprlPDShFvu2Hn5L8amP51ouRpmDSJwNyU//1DyU5p1tcWTAtkHr6SY7TY
uJtcPMM03BUD2i3rXSY4FbpWn8aOoUnQrkYFhx5Y/Aru+l47C0I5KF4fgMag7FhI
RxkTFylvq7uWvu0QCUkVh1MgohNxMqIGAvE5t8yoj5LxrNzOq95TcOGwFngWCdJM
a5BADFjq7v4j/+cP748ZTPcLUusTQTwEuIsCIhpwwiKADsy1FKjmAdHhKTff/6wn
cpNYvwimKNSSESCwzAnxekaJCTXpEOWQV7/6FO9vJbTMKw8=
=/hJk
-----END PGP SIGNATURE-----
prev parent reply other threads:[~2015-07-24 1:17 UTC|newest]
Thread overview: 8+ messages / expand[flat|nested] mbox.gz Atom feed top
2015-07-23 16:23 jl2012
2015-07-23 17:59 ` Tier Nolan
2015-07-23 19:26 ` jl2012
2015-08-01 13:05 ` Michael Ruddy
2015-08-01 20:23 ` jl2012
2015-08-02 10:53 ` Michael Ruddy
2015-08-03 8:54 ` jl2012
2015-07-24 1:17 ` Gareth Williams [this message]
Reply instructions:
You may reply publicly to this message via plain-text email
using any one of the following methods:
* Save the following mbox file, import it into your mail client,
and reply-to-all from there: mbox
Avoid top-posting and favor interleaved quoting:
https://en.wikipedia.org/wiki/Posting_style#Interleaved_style
* Reply using the --to, --cc, and --in-reply-to
switches of git-send-email(1):
git send-email \
--in-reply-to=CAB8D56D-58B0-4FC7-BD40-A1C613D8EBD6@gmail.com \
--to=gacrux@gmail$(echo .)com \
--cc=bitcoin-dev@lists$(echo .)linuxfoundation.org \
--cc=tier.nolan@gmail$(echo .)com \
/path/to/YOUR_REPLY
https://kernel.org/pub/software/scm/git/docs/git-send-email.html
Be sure your reply has a Subject: header at the top and a blank line
before the message body.
This is a public inbox, see mirroring instructions
for how to clone and mirror all data and code used for this inbox