From: Michael Naber <mickeybob@gmail•com>
To: "Jorge Timón" <jtimon@jtimon•cc>
Cc: Bitcoin Dev <bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] Fees and the block-finding process
Date: Tue, 11 Aug 2015 14:37:01 -0500 [thread overview]
Message-ID: <CALgxB7sLsod9Kb-pwxGwCtPpWXsUusDE1nJ7p4nbFMG8mDWFtg@mail.gmail.com> (raw)
In-Reply-To: <CABm2gDq+2mXEN2hZY6_JYXAJX=Wxrxr6jm86P6g2YD4zzy-=Nw@mail.gmail.com>
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Jorge, As long as Bitcoin remains the best global consensus network -- and
part of being best means being reasonably priced -- then no I don't think
people will be pushed into altcoins. Better money ultimately displaces
worse money, so I don't see a driving force for people to move to other
altcoins as long as Bitcoin remains competitive.
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.
On Tue, Aug 11, 2015 at 2:27 PM, Jorge Timón <jtimon@jtimon•cc> wrote:
>
> On Aug 11, 2015 8:46 PM, "Michael Naber" <mickeybob@gmail•com> wrote:
> >
> > Hi Jorge: Many people would like to participate in a global consensus
> network -- which is a network where all the participating nodes are aware
> of and agree upon every transaction. Constraining Bitcoin capacity below
> the limits of technology will only push users seeking to participate in a
> global consensus network to other solutions which have adequate capacity,
> such as BitcoinXT or others. Note that lightning / hub and spoke do not
> meet requirements for users wishing to participate in global consensus,
> because they are not global consensus networks, since all participating
> nodes are not aware of all transactions.
>
> Even if you are right, first fees will raise and that will be what pushes
> people to other altcoins, no?
> Can we agree that the first step in any potentially bad situation is
> hitting the limit and then fees rising as a consequence?
>
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next prev parent reply other threads:[~2015-08-11 19:37 UTC|newest]
Thread overview: 94+ messages / expand[flat|nested] mbox.gz Atom feed top
2015-08-07 14:57 Gavin Andresen
2015-08-07 15:16 ` Pieter Wuille
2015-08-07 15:55 ` Gavin Andresen
2015-08-07 16:28 ` Pieter Wuille
2015-08-07 17:47 ` Ryan Butler
2015-08-07 18:25 ` Mark Friedenbach
2015-08-07 18:57 ` Ryan Butler
2015-08-07 19:07 ` Ryan Butler
2015-08-07 19:15 ` Mark Friedenbach
2015-08-07 20:17 ` Ryan Butler
2015-08-07 20:33 ` Dave Hudson
2015-08-07 18:17 ` jl2012
2015-08-07 18:35 ` Bryan Bishop
2015-08-07 18:36 ` Simon Liu
2015-08-11 23:20 ` Elliot Olds
2015-08-07 17:33 ` Jorge Timón
2015-08-07 22:12 ` Thomas Zander
2015-08-07 23:06 ` Adam Back
2015-08-08 22:45 ` Dave Scotese
2015-08-08 23:05 ` Alex Morcos
2015-08-09 5:52 ` Hector Chu
2015-08-09 10:32 ` Thomas Zander
2015-08-09 10:42 ` Thomas Zander
2015-08-09 20:43 ` Dave Scotese
2015-08-11 17:03 ` Jorge Timón
2015-08-10 11:55 ` Jorge Timón
2015-08-10 12:33 ` Btc Drak
2015-08-10 13:03 ` Jorge Timón
2015-08-10 22:13 ` Thomas Zander
2015-08-11 17:47 ` Jorge Timón
2015-08-11 18:46 ` Michael Naber
2015-08-11 18:48 ` Mark Friedenbach
2015-08-11 18:55 ` Michael Naber
2015-08-11 19:45 ` Jorge Timón
2015-08-11 21:31 ` Michael Naber
2015-08-11 18:51 ` Bryan Bishop
2015-08-11 18:59 ` Michael Naber
2015-08-11 19:27 ` Jorge Timón
2015-08-11 19:37 ` Michael Naber [this message]
2015-08-11 19:51 ` Pieter Wuille
2015-08-11 21:18 ` Michael Naber
2015-08-11 21:23 ` Adam Back
2015-08-11 21:30 ` Angel Leon
2015-08-11 21:32 ` Pieter Wuille
2015-08-11 21:34 ` Adam Back
2015-08-11 21:39 ` Michael Naber
2015-08-12 6:10 ` Venzen Khaosan
2015-08-11 22:06 ` Angel Leon
2015-08-11 21:35 ` Michael Naber
2015-08-11 21:51 ` Pieter Wuille
2015-08-12 3:35 ` Elliot Olds
2015-08-12 4:47 ` Venzen Khaosan
2015-08-14 21:47 ` Elliot Olds
2015-08-12 0:56 ` Tom Harding
2015-08-12 1:18 ` Eric Voskuil
2015-08-12 8:10 ` Thomas Zander
2015-08-12 9:00 ` Jorge Timón
2015-08-12 9:25 ` Thomas Zander
2015-08-11 19:53 ` Jorge Timón
2015-08-11 20:56 ` Michael Naber
2015-08-12 7:54 ` Thomas Zander
2015-08-12 8:01 ` Thomas Zander
[not found] ` <1679272.aDpruqxXDP@coldstorage>
2015-08-12 8:51 ` Jorge Timón
2015-08-12 9:23 ` Thomas Zander
2015-08-12 9:45 ` Jorge Timón
2015-08-12 16:24 ` Thomas Zander
2015-08-17 14:49 ` BitMinter operator
2015-08-17 15:01 ` Peter Todd
2015-08-10 14:12 ` Gavin Andresen
2015-08-10 14:24 ` Alex Morcos
2015-08-10 22:12 ` Thomas Zander
2015-08-10 14:34 ` Pieter Wuille
2015-08-10 22:04 ` Thomas Zander
2015-08-20 14:40 ` Will Madden
2015-08-10 14:55 ` Jorge Timón
2015-08-10 22:09 ` Thomas Zander
2015-08-10 22:52 ` Pieter Wuille
2015-08-10 23:11 ` Pieter Wuille
2015-08-11 5:34 ` Thomas Zander
2015-08-11 6:03 ` Mark Friedenbach
2015-08-11 6:31 ` Thomas Zander
2015-08-11 7:08 ` Mark Friedenbach
2015-08-11 8:38 ` Thomas Zander
2015-08-11 9:14 ` Angel Leon
2015-08-11 19:00 ` Mark Friedenbach
2015-08-11 19:26 ` Michael Naber
2015-08-11 20:12 ` Adam Back
2015-08-12 0:32 ` odinn
2015-08-11 11:10 ` Thomas Zander
2015-08-12 0:18 ` odinn
2015-08-07 21:30 ` Jim Phillips
2015-08-07 18:22 ` Anthony Towns
2015-08-07 18:36 ` Peter R
2015-08-12 1:56 Corey Haddad
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