Subject: Re: [Bitcoin-development] User vote in blocksize through fees

From: Jeff Garzik <[email-masked]>
Date: Sun, 14 Jun 2015 10:42:17 -0400

Since you missed it, here is the suggestion again:
http://gtf.org/garzik/bitcoin/BIP100-blocksizechangeproposal.pdf

On Sun, Jun 14, 2015 at 6:06 AM, Mats Henricson <[email-masked]> wrote:

> Jeff,
>
> with all due respect, but I've seen you saying this a few times
> now, that this decision is oh so difficult and important.
>
> But this is not helpful. We all know that. Even I.
>
> Make a suggestion, or stay out of the debate!
>
> Mats
>
> On 06/14/2015 07:36 AM, Jeff Garzik wrote:
> > 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 <[email-masked]>
> 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 <[email-masked]> wrote:
> >>
> >> On Sun, Jun 14, 2015 at 1:08 AM, Eric Lombrozo <[email-masked]>
> >> 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?
> >>
> >>
> >>
> >
> >
> >
> >
> >
> ------------------------------------------------------------------------------
> >
> >
> >
> > _______________________________________________
> > Bitcoin-development mailing list
> > [email-masked]
> > https://lists.sourceforge.net/lists/listinfo/bitcoin-development
> >
>
>
> ------------------------------------------------------------------------------
> _______________________________________________
> Bitcoin-development mailing list
> [email-masked]
> https://lists.sourceforge.net/lists/listinfo/bitcoin-development
>

-- 
Jeff Garzik
Bitcoin core developer and open source evangelist
BitPay, Inc.      https://bitpay.com/