From: "t. khan" <teekhan42@gmail•com>
To: James Hilliard <james.hilliard1@gmail•com>
Cc: Bitcoin Protocol Discussion <bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] Managing block size the same way we do difficulty (aka Block75)
Date: Sun, 11 Dec 2016 16:40:21 -0500 [thread overview]
Message-ID: <CAGCNRJqEVo6cMOLeENNue3=2mAHnWL2ViUKXVXAke_W0CXKKEg@mail.gmail.com> (raw)
In-Reply-To: <CADvTj4rC6OyCFCwpExRdRF_ZVU_ONjtb3PycR3T_fkm6d=b_Wg@mail.gmail.com>
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On Sun, Dec 11, 2016 at 3:31 PM, James Hilliard <james.hilliard1@gmail•com>
wrote:
> What's most likely to happen is miners will max out the blocks they
> mine simply to try and get as many transaction fees as possible like
> they are doing right now(there will be a backlog of transactions at
> any block size). Having the block size double every year would likely
> cause major problems and this proposal allows over a 7x increase it
> seems.
Block75 is not exponential scaling. It's true the max theoretical increase
in the first year would be 7x, but the next year would be a max of 2x, and
the next could only increase by 50% and so on.
However, to reach the max in the first year: 1) ALL blocks would have to be
100% full and 2) transactions would have to increase at the same rate. We'd
have to be doing 2.1 million transactions a day within a year to make that
happen, and would therefore need blocks to be that big.
Realistically, max block size will grow (and shrink) at a much slower rate
... even more so with SegWit.
> The main problem with this proposal I think is that users effectively
have no way to stop the miners from increasing block size
> continuously.
Yes they could, simply by not sending transactions. Users don't care at all
about block size. They just want their transactions to be fast and
relatively cheap.
-t.k.
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next prev parent reply other threads:[~2016-12-11 21:40 UTC|newest]
Thread overview: 24+ messages / expand[flat|nested] mbox.gz Atom feed top
2016-12-05 15:27 t. khan
2016-12-10 10:44 ` s7r
2016-12-10 12:05 ` Hampus Sjöberg
2016-12-11 0:26 ` t. khan
2016-12-11 0:40 ` James Hilliard
2016-12-11 1:07 ` Bram Cohen
2016-12-11 17:11 ` s7r
2016-12-11 19:55 ` t. khan
2016-12-11 20:31 ` James Hilliard
2016-12-11 21:40 ` t. khan [this message]
2016-12-11 21:53 ` Bram Cohen
2016-12-11 21:55 ` James Hilliard
2016-12-11 22:30 ` t. khan
2016-12-11 20:38 ` Andrew Johnson
2016-12-11 23:22 ` s7r
2016-12-18 21:53 ` James MacWhyte
2016-12-19 1:42 ` Tom Harding
2016-12-10 23:12 ` Bram Cohen
2016-12-11 0:52 ` t. khan
[not found] <CAEgR2PEMPo3veqJat7OAps1DzTSNFJmJiRbkFgYKvYfxqdbUiw@mail.gmail.com>
[not found] ` <CAEgR2PELB1_s+o0Bj4Kj9vS27eoqP7gV_VS_6QHQtTUAOnMORg@mail.gmail.com>
[not found] ` <CAEgR2PFpGWxngq=fKGi7CC_d+=5YWzWwbEEsQNEifCuHAAPAHw@mail.gmail.com>
[not found] ` <CAEgR2PHnrsdaBiDgywvE9amK8_yPE_hBo0yYOYwUk4T8n7wnAQ@mail.gmail.com>
[not found] ` <CAEgR2PEgPkRe76hW0Jj7_Z1EdmmNTpTAOKGm_of2dG=XXUOtnA@mail.gmail.com>
[not found] ` <CAEgR2PHew+fcJWnAt+t8umcwKu4TkshH=AFJ-8MeYysud2MkBQ@mail.gmail.com>
[not found] ` <CAEgR2PEVwt_shiqwGjK6dPscRUTHayis0PaQO5Dj_fVEGGgaCQ@mail.gmail.com>
2016-12-10 12:23 ` Daniele Pinna
2016-12-10 17:39 ` Pieter Wuille
2016-12-11 3:17 ` Daniele Pinna
2016-12-11 5:29 ` Eric Voskuil
2016-12-11 9:21 ` Adam Back
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