From: Martin Stolze <martin@stolze•cc>
To: Tom Zander <tomz@freedommail•ch>
Cc: Bitcoin Protocol Discussion <bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] Inquiry: Transaction Tiering
Date: Wed, 29 Mar 2017 13:48:42 +0100 [thread overview]
Message-ID: <CAOyfL0oQ8dKECqSdguo5NnSpdVcYMkNKT1pWC8+aGsG2HOY-0Q@mail.gmail.com> (raw)
In-Reply-To: <2621205.8A4FuXh9CI@strawberry>
Ignoring your contradiction of the political and economical. Your
conception holds under the presupposition that all action of
hash-power is motivated by 'rational' economic interest. Specifically
a very strict distinction between the profitable and the unprofitable;
namely to include transactions based on "business incentive",
presumably on-chain fees.
I am afraid that this conception is a rickety crutch, unfit to
navigate current reality.
On Wed, Mar 29, 2017 at 10:04 AM, Tom Zander <tomz@freedommail•ch> wrote:
> On Monday, 20 March 2017 21:12:36 CEST Martin Stolze via bitcoin-dev wrote:
>> Background: The current protocol enables two parties to transact
>> freely, however, transaction processors (block generators) have the
>> authority to discriminate participants arbitrarily.
>
> Nag; they don’t have any authority.
>
>> This is well known
>> and it is widely accepted that transaction processors may take
>> advantage of this with little recourse. It is the current consensus
>> that the economic incentives in form of transaction fees are
>> sufficient because the transaction processing authorities are assumed
>> to be guided by the growth of Bitcoin and the pursuit of profit.
>
> This is not the case, it misunderstands Bitcoin and specifically is
> misunderstands that Bitcoin is distributed and decentralized.
>
> What you call “block generators” or “transaction processors” are in reality
> called miners and they don’t have any authority to mine or not mine certain
> transactions. All they have is a business incentive to mine or not mine a
> certain transaction.
> This is a crucial distinction as that makes it a economical decision, not a
> political.
>
> The massive distribution of miners creating blocks means that one miner is
> free to add his political agenda. They can choose to not mine any satoshi-
> dice transactions, should they want. But they can’t stop other miners from
> mining those transactions anyway, and as such this is not a political move
> that has any effect whatsoever, at the end of the day it is just an
> economcal decision.
>
> The rest of your email is based on this misconception as well, and therefore
> the above answers your question.
> --
> Tom Zander
> Blog: https://zander.github.io
> Vlog: https://vimeo.com/channels/tomscryptochannel
next prev parent reply other threads:[~2017-03-29 12:49 UTC|newest]
Thread overview: 18+ messages / expand[flat|nested] mbox.gz Atom feed top
2017-03-20 20:12 Martin Stolze
2017-03-21 15:18 ` Tim Ruffing
2017-03-29 9:04 ` Tom Zander
2017-03-29 12:48 ` Martin Stolze [this message]
2017-03-29 13:10 ` Tom Zander
2017-03-22 17:48 Martin Stolze
2017-03-25 4:42 ` praxeology_guy
2017-03-25 17:15 ` Martin Stolze
2017-03-26 11:12 ` praxeology_guy
2017-03-26 12:11 ` greg misiorek
2017-03-27 17:18 ` Martin Stolze
[not found] ` <fFz3k0NstFYpKctCaSKDrhPnkInjW3GgQ-3FIyokzdl_SScKjXptQsn8jnW71ax_oknq9hI8gUBllYaKo_9hMiBASSJtkL6xXN_NX8tcmXw=@protonmail.com>
2017-03-27 21:11 ` Martin Stolze
2017-03-28 7:02 ` praxeology_guy
2017-03-28 19:51 ` Martin Stolze
2017-03-27 16:29 AJ West
2017-03-28 12:58 Martin Stolze
2017-03-28 14:57 ` Andrew Baine
2017-03-29 12:51 ` Martin Stolze
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