From: Jim Phillips <jim@ergophobia•org>
To: Pieter Wuille <pieter.wuille@gmail•com>
Cc: Bitcoin Dev <bitcoin-development@lists•sourceforge.net>,
Andreas Schildbach <andreas@schildbach•de>
Subject: Re: [Bitcoin-development] A suggestion for reducing the size of the UTXO database
Date: Sat, 9 May 2015 14:16:46 -0500 [thread overview]
Message-ID: <CANe1mWzLcmqRMJHsJvATTjyJ9fEdCDb-J0KAQhardVj3Jni6ww@mail.gmail.com> (raw)
In-Reply-To: <CAPg+sBiNLtDNqHML1n7UJC_hYtYCOjBuYNh-bZT8msVh9UKFUg@mail.gmail.com>
[-- Attachment #1: Type: text/plain, Size: 1325 bytes --]
On Sat, May 9, 2015 at 2:06 PM, Pieter Wuille <pieter.wuille@gmail•com>
wrote:
> It's a very complex trade-off, which is hard to optimize for all use
> cases. Using more UTXOs requires larger transactions, and thus more fees in
> general.
>
Unless the miner determines that the reduction in UTXO storage requirements
is worth the lower fee. There's no protocol level enforcement of a fee as
far as I understand it. It's enforced by the miners and their willingness
to include a transaction in a block.
> In addition, it results in more linkage between coins/addresses used, so
> lower privacy.
>
Not if you only select all the UTXOs from a single address. A wallet that
is geared more towards privacy minded individuals may want to reduce the
amount of address linkage, but a wallet geared towards the general masses
probably won't have to worry so much about that.
> The only way you can guarantee an economical reason to keep the UTXO set
> small is by actually having a consensus rule that punishes increasing its
> size.
>
There's an economical reason right now to keeping the UTXO set small. The
smaller it is, the easier it is for the individual to run a full node. The
easier it is to run a full node, the faster Bitcoin will spread to the
masses. The faster it spreads to the masses, the more valuable it becomes.
[-- Attachment #2: Type: text/html, Size: 1949 bytes --]
next prev parent reply other threads:[~2015-05-09 19:17 UTC|newest]
Thread overview: 45+ messages / expand[flat|nested] mbox.gz Atom feed top
2015-05-09 17:09 Jim Phillips
2015-05-09 18:45 ` Peter Todd
2015-05-09 19:02 ` Jim Phillips
2015-05-09 19:00 ` Andreas Schildbach
2015-05-09 19:05 ` Jim Phillips
2015-05-09 19:06 ` Pieter Wuille
2015-05-09 19:16 ` Jim Phillips [this message]
2015-05-09 19:43 ` Ross Nicoll
[not found] ` <3862E01F-FD0F-48F5-A6D9-F8E0FB0AB68F@newcastle.ac.uk>
[not found] ` <CANe1mWys1gAO1CgPEpD7rdtXF2KYfvXA6bc0q-rAzg9xOFc-5A@mail.gmail.com>
[not found] ` <8029969D-FD22-43F7-930D-CEC7A87CEAD5@newcastle.ac.uk>
2015-05-09 19:28 ` Jim Phillips
2015-05-10 2:11 ` Matt Whitlock
2015-05-10 12:11 ` Jim Phillips
2015-05-25 18:41 ` Mike Hearn
2015-05-25 20:03 ` Matt Whitlock
2015-05-25 20:29 ` Andreas Schildbach
2015-05-25 21:05 ` Peter Todd
2015-05-26 12:40 ` Andreas Schildbach
2015-05-25 21:14 ` Warren Togami Jr.
2015-05-25 21:12 ` Mike Hearn
2015-05-10 13:35 ` Bob McElrath
2015-05-10 14:33 ` Jeff Garzik
2015-05-10 14:42 ` Bob McElrath
2015-05-12 19:50 ` Danny Thorpe
2015-05-25 18:44 ` Mike Hearn
2015-05-25 21:26 ` Peter Todd
2015-05-25 22:03 ` Mike Hearn
2015-05-26 0:10 ` [Bitcoin-development] Cost savings by using replace-by-fee, 30-90% Peter Todd
2015-05-26 18:22 ` Danny Thorpe
2015-05-26 18:38 ` Allen Piscitello
2015-05-26 18:42 ` Aaron Voisine
2015-05-26 18:47 ` Adam Back
2015-05-26 20:18 ` Matt Whitlock
2015-05-26 20:30 ` joliver
2015-05-26 20:56 ` Mark Friedenbach
2015-05-26 21:29 ` s7r
2015-05-26 22:06 ` Adam Back
2015-05-27 1:25 ` Peter Todd
2015-05-27 19:28 ` s7r
2015-05-26 22:29 ` Jeff Garzik
2015-05-09 19:25 [Bitcoin-development] A suggestion for reducing the size of the UTXO database Raystonn
2015-05-09 19:33 ` Jim Phillips
2015-05-09 19:43 Raystonn
2015-05-09 19:52 ` Jim Phillips
2015-05-09 20:20 Raystonn
2015-05-09 20:38 ` Pieter Wuille
2015-05-09 21:11 ` Jim Phillips
Reply instructions:
You may reply publicly to this message via plain-text email
using any one of the following methods:
* Save the following mbox file, import it into your mail client,
and reply-to-all from there: mbox
Avoid top-posting and favor interleaved quoting:
https://en.wikipedia.org/wiki/Posting_style#Interleaved_style
* Reply using the --to, --cc, and --in-reply-to
switches of git-send-email(1):
git send-email \
--in-reply-to=CANe1mWzLcmqRMJHsJvATTjyJ9fEdCDb-J0KAQhardVj3Jni6ww@mail.gmail.com \
--to=jim@ergophobia$(echo .)org \
--cc=andreas@schildbach$(echo .)de \
--cc=bitcoin-development@lists$(echo .)sourceforge.net \
--cc=pieter.wuille@gmail$(echo .)com \
/path/to/YOUR_REPLY
https://kernel.org/pub/software/scm/git/docs/git-send-email.html
Be sure your reply has a Subject: header at the top and a blank line
before the message body.
This is a public inbox, see mirroring instructions
for how to clone and mirror all data and code used for this inbox