From: Pindar Wong <pindar.wong@gmail•com>
To: Peter Todd <pete@petertodd•org>
Cc: Bitcoin Dev <bitcoin-development@lists•sourceforge.net>
Subject: Re: [Bitcoin-development] Fwd: Block Size Increase Requirements
Date: Mon, 1 Jun 2015 20:19:12 +0800 [thread overview]
Message-ID: <CAM7BtUq_GexPBwhKiCpNbGBm-Y3y8pTRUWabt8rYQkwpKNRObg@mail.gmail.com> (raw)
In-Reply-To: <20150601112634.GA27160@muck>
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Two very valid and important points. Thank you for making these
observations Peter.
p.
On Mon, Jun 1, 2015 at 7:26 PM, Peter Todd <pete@petertodd•org> wrote:
> On Mon, Jun 01, 2015 at 06:42:05PM +0800, Pindar Wong wrote:
> > On Mon, Jun 1, 2015 at 6:13 PM, Mike Hearn <mike@plan99•net> wrote:
> >
> > > Whilst it would be nice if miners in China can carry on forever
> regardless
> > > of their internet situation, nobody has any inherent "right" to mine if
> > > they can't do the job - if miners in China can't get the trivial
> amounts of
> > > bandwidth required through their firewall and end up being outcompeted
> then
> > > OK, too bad, we'll have to carry on without them.
> > >
> >
> > I'd rather think of mining as a responsibility than a right per se, but
> > you're right in so far as it's competitive and self-correcting.
>
> It's important to remember that the service Bitcoin miners are providing
> us is *not* transaction validation, but rather decentralization.
> Validation is something every full node does already; there's no
> shortage of it. What's tricky is designing a Bitcoin protocol that
> creates the appropriate incentives for mining to remain decentralized,
> so we get good value for the large amount of money being sent to miners.
>
> I've often likened this task to building a robot to go to the grocery
> store to buy milk for you. If that robot doesn't have a nose, before
> long store owners are going to realise it can't tell the difference
> between unspoilt and spoilt milk, and you're going to get ripped off
> paying for a bunch of spoiled milk.
>
> Designing a Bitcoin protocol where we expect "competition" to result in
> smaller miners in more geographically decentralized places to get
> outcompeted by larger miners who are more geographically centralized
> gets us bad value for our money. Sure it's "self-correcting", but not in
> a way that we want.
>
> > > But I'm not sure why it should be a big deal. They can always run a
> node
> > > on a server in Taiwan and connect the hardware to it via a VPN or so.
> > >
> > >
> > Let's agree to disagree on this point.
>
> Note how that VPN, and likely VPS it's connected too, immediately adds
> another one or two points of failure to the whole system. Not only does
> this decrease reliability, it also decreases security by making attacks
> significantly easier - VPS security is orders of magnitude worse than
> the security of physical hardware.
>
> --
> 'peter'[:-1]@petertodd.org
> 00000000000000000e187b95a9159d04a3586dd4cbc068be88a3eafcb5b885f9
>
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next prev parent reply other threads:[~2015-06-01 12:19 UTC|newest]
Thread overview: 73+ messages / expand[flat|nested] mbox.gz Atom feed top
2015-05-07 22:02 [Bitcoin-development] " Matt Corallo
2015-05-07 23:24 ` Joseph Poon
2015-05-08 0:05 ` Peter Todd
2015-05-08 6:33 ` Arkady
2015-05-08 10:03 ` Mike Hearn
2015-05-08 16:37 ` Peter Todd
2015-05-08 19:47 ` Tier Nolan
2015-05-09 3:08 ` Peter Todd
2015-05-16 4:39 ` Stephen
2015-05-16 11:29 ` Tier Nolan
2015-05-16 11:25 ` Tier Nolan
2015-05-29 22:36 ` Gavin Andresen
2015-05-29 23:25 ` Matt Corallo
[not found] ` <CABsx9T3__mHZ_kseRg-w-x2=8v78QJLhe+BWPezv+hpbFCufpw@mail.gmail.com>
2015-05-30 19:32 ` Matt Corallo
2015-05-30 20:37 ` Gavin Andresen
2015-05-31 14:46 ` Jorge Timón
2015-05-31 14:49 ` Gavin Andresen
2015-05-31 14:59 ` Jorge Timón
2015-05-31 15:08 ` Gavin Andresen
2015-05-31 15:45 ` Jorge Timón
2015-05-29 23:42 ` Chun Wang
2015-05-30 13:57 ` Gavin Andresen
2015-05-30 14:08 ` Pindar Wong
2015-05-30 22:05 ` Alex Mizrahi
2015-05-30 23:16 ` Brian Hoffman
2015-05-31 0:13 ` Alex Mizrahi
2015-05-31 5:05 ` gb
[not found] ` <CAFzgq-z5WCznGhbOexS0XESNGAVauw45ewEV-1eMij7yDT61=Q@mail.gmail.com>
2015-05-31 1:31 ` [Bitcoin-development] Fwd: " Chun Wang
2015-05-31 2:20 ` Pindar Wong
2015-05-31 12:40 ` Gavin Andresen
2015-05-31 13:45 ` Alex Mizrahi
2015-05-31 14:54 ` Gavin Andresen
2015-05-31 22:55 ` Alex Mizrahi
2015-05-31 23:23 ` Ricardo Filipe
2015-05-31 23:40 ` Pindar Wong
2015-05-31 23:58 ` Ricardo Filipe
2015-06-01 0:03 ` Pindar Wong
2015-06-01 7:57 ` Alex Mizrahi
2015-06-01 10:13 ` Mike Hearn
2015-06-01 10:42 ` Pindar Wong
2015-06-01 11:26 ` Peter Todd
2015-06-01 12:19 ` Pindar Wong [this message]
2015-06-01 11:02 ` Chun Wang
2015-06-01 11:09 ` Pindar Wong
2015-06-01 11:20 ` Chun Wang
2015-06-01 13:59 ` Gavin Andresen
2015-06-01 14:08 ` Chun Wang
2015-06-01 15:33 ` Mike Hearn
2015-06-01 16:06 ` Ángel José Riesgo
2015-06-01 14:46 ` Oliver Egginger
2015-06-01 14:48 ` Chun Wang
2015-06-01 16:43 ` Yifu Guo
2015-06-01 20:01 ` Roy Badami
2015-06-01 20:15 ` Roy Badami
2015-06-01 13:21 ` Mike Hearn
2015-06-01 12:29 ` Warren Togami Jr.
2015-06-01 13:15 ` Gavin Andresen
2015-05-31 12:52 ` Gavin Andresen
2015-05-31 13:31 ` [Bitcoin-development] [Bulk] " gb
2015-05-31 19:49 ` Gavin Andresen
2015-05-31 14:17 ` [Bitcoin-development] " Dave Hudson
2015-05-31 14:34 ` Yifu Guo
2015-05-31 14:47 ` Gavin Andresen
2015-05-31 7:05 ` [Bitcoin-development] " Peter Todd
2015-05-31 12:51 ` Gavin Andresen
2015-06-01 11:12 [Bitcoin-development] Fwd: " Thy Shizzle
2015-06-01 13:06 Thy Shizzle
2015-06-01 18:19 ` Warren Togami Jr.
2015-06-01 18:30 ` Mike Hearn
2015-06-01 18:44 ` Adam Back
2015-06-01 19:23 ` Btc Drak
2015-06-01 21:32 Thy Shizzle
2015-06-01 22:13 ` Pindar Wong
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