From: Jeff Garzik <jgarzik@bitpay•com>
To: Eric Lombrozo <elombrozo@gmail•com>
Cc: Bitcoin Dev <bitcoin-development@lists•sourceforge.net>
Subject: Re: [Bitcoin-development] User vote in blocksize through fees
Date: Sun, 14 Jun 2015 01:36:45 -0400 [thread overview]
Message-ID: <CAJHLa0NrNqECvqhJWNX=rt3-h4U3jwFWoMCrcbyC6hUT5EqWbw@mail.gmail.com> (raw)
In-Reply-To: <04527D50-0118-4E74-8226-3E29B29CC7D8@gmail.com>
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The choice is very real and on-point. What should the block size limit
be? Why?
There is a large consensus that it needs increasing. To what? By what
factor?
The size limit literally defines the fee market, the whole damn thing. If
software high priests choose a size limit of 300k, space is scarce, fees
are bid high. If software high priests choose a size limit of 32mb, space
is plentiful, fees are near zero. Market actors take their signals
accordingly. Some business models boom, some business models fail, as a
direct result of changing this unintentionally-added speedbump. Different
users value adoption, decentralization etc. differently.
The size limit is an economic policy lever that needs to be transitioned
-away- from software and software developers, to the free market.
A simple, e.g. hard fork to 2MB or 4MB does not fix higher level governance
problems associated with actors lobbying developers, even if a cloistered
and vetted Technical Advisory Board as has been proposed.
On Sun, Jun 14, 2015 at 1:20 AM, Eric Lombrozo <elombrozo@gmail•com> wrote:
> I definitely think we need some voting system for metaconsensus…but if
> we’re going to seriously consider this we should look at the problem much
> more generally. Using false choices doesn’t really help, though ;)
>
> - Eric Lombrozo
>
>
> On Jun 13, 2015, at 10:13 PM, Jeff Garzik <jgarzik@bitpay•com> wrote:
>
> On Sun, Jun 14, 2015 at 1:08 AM, Eric Lombrozo <elombrozo@gmail•com>
> wrote:
>
>> 2) BIP100 has direct economic consequences…and particularly for miners.
>> It lends itself to much greater corruptibility.
>>
>>
> What is the alternative? Have a Chief Scientist or Technical Advisory
> Board choose what is a proper fee, what is a proper level of
> decentralization, a proper growth factor?
>
>
>
--
Jeff Garzik
Bitcoin core developer and open source evangelist
BitPay, Inc. https://bitpay.com/
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next prev parent reply other threads:[~2015-06-14 5:37 UTC|newest]
Thread overview: 42+ messages / expand[flat|nested] mbox.gz Atom feed top
2015-06-12 18:11 Peter Todd
2015-06-12 18:20 ` Mark Friedenbach
2015-06-12 18:26 ` Matt Whitlock
2015-06-12 18:36 ` Peter Todd
2015-06-12 18:56 ` Jannes Faber
[not found] ` <CABr1YTfowMqgDZoWhDXiM0Bd3dwhVo6++FOvLntGc2HkApEbGw@mail.gmail.com>
2015-06-12 20:04 ` Eric Lombrozo
2015-06-12 23:01 ` Vincent Truong
2015-06-12 23:11 ` Luke Dashjr
2015-06-12 23:23 ` Aaron Gustafson
2015-06-12 18:22 ` Matt Whitlock
2015-06-12 18:34 ` Peter Todd
2015-06-12 18:36 ` Matt Whitlock
2015-06-12 18:39 ` Benjamin
2015-06-12 18:47 ` Peter Todd
2015-06-12 18:44 ` Peter Todd
2015-06-12 18:52 ` Matt Whitlock
2015-06-12 18:54 ` Matt Whitlock
2015-06-12 18:56 ` Aaron Gustafson
2015-06-13 22:20 ` Danny Thorpe
2015-06-13 22:24 ` Eric Lombrozo
2015-06-14 4:55 ` Chun Wang
2015-06-14 4:59 ` Jeff Garzik
2015-06-14 5:08 ` Eric Lombrozo
2015-06-14 5:13 ` Jeff Garzik
2015-06-14 5:20 ` Eric Lombrozo
2015-06-14 5:36 ` Jeff Garzik [this message]
2015-06-14 10:06 ` Mats Henricson
2015-06-14 10:34 ` Benjamin
2015-06-14 15:07 ` Jeff Garzik
2015-06-14 21:59 ` odinn
2015-06-14 20:10 ` Eric Lombrozo
2015-06-14 14:42 ` Jeff Garzik
2015-06-14 22:26 ` Mike Hearn
2015-06-15 3:59 ` Eric Lombrozo
2015-06-14 4:16 ` Stephen
2015-06-14 4:50 ` Eric Lombrozo
2015-06-14 4:56 ` Jeff Garzik
2015-06-14 7:19 ` Ashley Holman
2015-06-13 23:57 Raystonn
2015-06-14 4:28 ` odinn
2015-06-14 5:46 ` Aaron Voisine
2015-06-14 21:38 ` odinn
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