Re: [bitcoin-dev] Fees and the block-finding process

From: Angel Leon <gubatron@gmail•com>
To: Adam Back <adam@cypherspace•org>
Cc: Bitcoin Dev <bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] Fees and the block-finding process
Date: Tue, 11 Aug 2015 17:30:42 -0400	[thread overview]
Message-ID: <CADZB0_Y-ddH8-rpfrUzfG1rvmC_Jy4cr8m_mC2JtLt-LiYgd_g@mail.gmail.com> (raw)
In-Reply-To: <CALqxMTFfUdMuNsNnx-B+SPq7HvQyA+NkvFHGVYPiFHn-ZipVJw@mail.gmail.com>

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tell that to people in poor countries, or even in first world countries.
The competitive thing here is a deal breaker for a lot of people who have
no clue/don't care for decentralization, they just want to send money from
A to B, like email.

http://twitter.com/gubatron

On Tue, Aug 11, 2015 at 5:23 PM, Adam Back via bitcoin-dev <
bitcoin-dev@lists•linuxfoundation.org> wrote:

> I dont think Bitcoin being cheaper is the main characteristic of
> Bitcoin.  I think the interesting thing is trustlessness - being able
> to transact without relying on third parties.
>
> Adam
>
>
> On 11 August 2015 at 22:18, Michael Naber via bitcoin-dev
> <bitcoin-dev@lists•linuxfoundation.org> wrote:
> > The only reason why Bitcoin has grown the way it has, and in fact the
> only
> > reason why we're all even here on this mailing list talking about this,
> is
> > because Bitcoin is growing, since it's "better money than other money".
> One
> > of the key characteristics toward that is Bitcoin being inexpensive to
> > transact. If that characteristic is no longer true, then Bitcoin isn't
> going
> > to grow, and in fact Bitcoin itself will be replaced by better money
> that is
> > less expensive to transfer.
> >
> > So the importance of this issue cannot be overstated -- it's compete or
> die
> > for Bitcoin -- because people want to transact with global consensus at
> high
> > volume, and because technology exists to service that want, then it's
> going
> > to be met. This is basic rules of demand and supply. I don't necessarily
> > disagree with your position on only wanting to support uncontroversial
> > commits, but I think it's important to get consensus on the criticality
> of
> > the block size issue: do you agree, disagree, or not take a side, and
> why?
> >
> >
> > On Tue, Aug 11, 2015 at 2:51 PM, Pieter Wuille <pieter.wuille@gmail•com>
> > wrote:
> >>
> >> On Tue, Aug 11, 2015 at 9:37 PM, Michael Naber via bitcoin-dev
> >> <bitcoin-dev@lists•linuxfoundation.org> wrote:
> >>>
> >>> Hitting the limit in and of itself is not necessarily a bad thing. The
> >>> question at hand is whether we should constrain that limit below what
> >>> technology is capable of delivering. I'm arguing that not only we
> should
> >>> not, but that we could not even if we wanted to, since competition will
> >>> deliver capacity for global consensus whether it's in Bitcoin or in
> some
> >>> other product / fork.
> >>
> >>
> >> The question is not what the technology can deliver. The question is
> what
> >> price we're willing to pay for that. It is not a boolean "at this size,
> >> things break, and below it, they work". A small constant factor increase
> >> will unlikely break anything in the short term, but it will come with
> higher
> >> centralization pressure of various forms. There is discussion about
> whether
> >> these centralization pressures are significant, but citing that it's
> >> artificially constrained under the limit is IMHO a misrepresentation.
> It is
> >> constrained to aim for a certain balance between utility and risk, and
> >> neither extreme is interesting, while possibly still "working".
> >>
> >> Consensus rules are what keeps the system together. You can't simply
> >> switch to new rules on your own, because the rest of the system will
> end up
> >> ignoring you. These rules are there for a reason. You and I may agree
> about
> >> whether the 21M limit is necessary, and disagree about whether we need a
> >> block size limit, but we should be extremely careful with change. My
> >> position as Bitcoin Core developer is that we should merge consensus
> changes
> >> only when they are uncontroversial. Even when you believe a more
> invasive
> >> change is worth it, others may disagree, and the risk from disagreement
> is
> >> likely larger than the effect of a small block size increase by itself:
> the
> >> risk that suddenly every transaction can be spent twice (once on each
> side
> >> of the fork), the very thing that the block chain was designed to
> prevent.
> >>
> >> My personal opinion is that we should aim to do a block size increase
> for
> >> the right reasons. I don't think fear of rising fees or unreliability
> should
> >> be an issue: if fees are being paid, it means someone is willing to pay
> >> them. If people are doing transactions despite being unreliable, there
> must
> >> be a use for them. That may mean that some use cases don't fit anymore,
> but
> >> that is already the case.
> >>
> >> --
> >> Pieter
> >>
> >
> >
> > _______________________________________________
> > bitcoin-dev mailing list
> > bitcoin-dev@lists•linuxfoundation.org
> > https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
> >
> _______________________________________________
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> bitcoin-dev@lists•linuxfoundation.org
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>

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