From: Jeff Garzik <jgarzik@gmail•com>
To: Bitcoin development mailing list <bitcoin-dev@lists•linuxfoundation.org>
Subject: [bitcoin-dev] block size - pay with difficulty
Date: Thu, 3 Sep 2015 00:05:11 -0400 [thread overview]
Message-ID: <CADm_Wcb+5Xo3HS-FNUYtCapVpYfVvUS_fxpU0Q=TZHJW1=iAFQ@mail.gmail.com> (raw)
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Schemes proposing to pay with difficulty / hashpower to change block size
should be avoided. The miners incentive has always been fairly
straightforward - it is rational to deploy new hashpower as soon as you can
get it online. Introducing the concepts of (a) requiring out-of-band
collusion to change block size and/or (b) requiring miners to have idle
hashpower on hand to change block size are both unrealistic and potentially
corrosive. That potentially makes the block size - and therefore fee
market - too close, too sensitive to the wild vagaries of the mining chip
market.
Pay-to-future-miner has neutral, forward looking incentives worth
researching.
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next reply other threads:[~2015-09-03 4:05 UTC|newest]
Thread overview: 12+ messages / expand[flat|nested] mbox.gz Atom feed top
2015-09-03 4:05 Jeff Garzik [this message]
2015-09-03 4:55 ` jl2012
2015-09-03 14:18 ` Jeff Garzik
2015-09-03 18:24 ` jl2012
2015-09-03 6:57 ` Gregory Maxwell
2015-09-03 14:31 ` Jeff Garzik
2015-09-03 14:40 ` Jeff Garzik
2015-09-03 17:57 ` Gregory Maxwell
2015-09-03 18:23 ` Jorge Timón
2015-09-03 18:28 ` Btc Drak
2015-09-03 19:17 ` Gregory Maxwell
2015-09-03 18:23 ` Tom Harding
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