From: Mark Friedenbach <mark@friedenbach•org>
To: Peter Todd <pete@petertodd•org>
Cc: Bitcoin Development <bitcoin-development@lists•sourceforge.net>
Subject: Re: [Bitcoin-development] User vote in blocksize through fees
Date: Fri, 12 Jun 2015 11:20:21 -0700 [thread overview]
Message-ID: <CAOG=w-up7-wp2NnK52jeCLvcSWvbC-iT-YRDoA=10QhU=K14-g@mail.gmail.com> (raw)
In-Reply-To: <20150612181153.GB19199@muck>
[-- Attachment #1: Type: text/plain, Size: 2432 bytes --]
Peter it's not clear to me that your described protocol is free of miner
influence over the vote, by artificially generating transactions which they
claim in their own blocks, or conforming incentives among voters by opting
to be with the (slight) majority in order to minimize fees.
Wouldn't it in fact be simpler to use the dynamic block size adjustment
algorithm presented to the list a few weeks back, where the miner opts for
a larger block by sacrificing fees? In that way the users "vote" for larger
blocks by including sufficient fees to offset subsidy, but as it is an
economic incentives miners gain nothing by inflating the fees in their own
blocks.
On Fri, Jun 12, 2015 at 11:11 AM, Peter Todd <pete@petertodd•org> wrote:
> Jeff Garzik recently proposed that the upper blocksize limit be removed
> entirely, with a "soft" limit being enforced via miner vote, recorded by
> hashing power.
>
> This mechanism within the protocol for users to have any influence over
> the miner vote. We can add that back by providing a way for transactions
> themselves to set a flag determining whether or not they can be included
> in a block casting a specific vote.
>
> We can simplify Garzik's vote to say that one of the nVersion bits
> either votes for the blocksize to be increased, or decreased, by some
> fixed ratio (e.g 2x or 1/2x) the next interval. Then we can use a
> nVersion bit in transactions themselves, also voting for an increase or
> decrease. Transactions may only be included in blocks with an
> indentical vote, thus providing miners with a monetary incentive via
> fees to vote according to user wishes.
>
> Of course, to cast a "don't care" vote we can either define an
> additional bit, or sign the transaction with both versions. Equally we
> can even have different versions with different fees, broadcast via a
> mechanism such as replace-by-fee.
>
>
> See also John Dillon's proposal for proof-of-stake blocksize voting:
>
>
> https://www.mail-archive.com/bitcoin-development@lists.sourceforge.net/msg02323.html
>
> --
> 'peter'[:-1]@petertodd.org
> 0000000000000000127ab1d576dc851f374424f1269c4700ccaba2c42d97e778
>
>
> ------------------------------------------------------------------------------
>
> _______________________________________________
> Bitcoin-development mailing list
> Bitcoin-development@lists•sourceforge.net
> https://lists.sourceforge.net/lists/listinfo/bitcoin-development
>
>
[-- Attachment #2: Type: text/html, Size: 3348 bytes --]
next prev parent reply other threads:[~2015-06-12 18:20 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 [this message]
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
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
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='CAOG=w-up7-wp2NnK52jeCLvcSWvbC-iT-YRDoA=10QhU=K14-g@mail.gmail.com' \
--to=mark@friedenbach$(echo .)org \
--cc=bitcoin-development@lists$(echo .)sourceforge.net \
--cc=pete@petertodd$(echo .)org \
/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