From: Peter Todd <pete@petertodd.org>
To: Michael Naber <mickeybob@gmail.com>
Cc: bitcoin-dev@lists.linuxfoundation.org
Subject: Re: [bitcoin-dev] A Proposed Compromise to the Block Size Limit
Date: Sat, 27 Jun 2015 12:37:31 -0400 [thread overview]
Message-ID: <20150627163731.GA12820@muck> (raw)
In-Reply-To: <CALgxB7tdFsQXzGRje=suC7Yaym_Whhtn2qrb3ykx2ZOBwwbE7w@mail.gmail.com>
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On Sat, Jun 27, 2015 at 12:09:16PM -0400, Michael Naber wrote:
> The goal of Bitcoin Core is to meet the demand for global consensus as
> effectively as possible. Please let's keep the conversation on how to best
> meet that goal.
Keep in mind that Andresen and Hearn both propose that the majority of
Bitcoin users, even businesses, abandon the global consensus technology
aspect of Bitcoin - running full nodes - and instead adopt trust
technology instead - running SPV nodes.
We're very much focused on meeting the demand for global consensus
technology, but unfortunately global consensus is also has inherently
O(n^2) scaling with current approaches available. Thus we have a fixed
capacity system where access is mediated by supply and demand
transaction fees.
> The off-chain solutions you enumerate are are useful solutions in their
> respective domains, but none of them solves the global consensus problem
> with any greater efficiency than Bitcoin does.
Solutions like (hub-and-spoke) payment channels, Lightning, etc. allow
users of the global consensus technology in Bitcoin to use that
technology in much more effcient ways, leveraging a relatively small
amount of global consensus to do large numbers of transactions
trustlessly.
--
'peter'[:-1]@petertodd.org
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next prev parent reply other threads:[~2015-06-27 16:37 UTC|newest]
Thread overview: 43+ messages / expand[flat|nested] mbox.gz Atom feed top
2015-06-27 14:39 [bitcoin-dev] A Proposed Compromise to the Block Size Limit Michael Naber
2015-06-27 15:21 ` Peter Todd
2015-06-27 15:29 ` Randi Joseph
2015-06-27 15:32 ` Peter Todd
2015-06-27 16:19 ` Michael Naber
2015-06-27 17:20 ` Peter Todd
2015-06-27 17:26 ` Benjamin
2015-06-27 17:37 ` Peter Todd
2015-06-27 17:46 ` Benjamin
2015-06-27 17:54 ` Peter Todd
2015-06-27 17:58 ` Venzen Khaosan
2015-06-27 19:34 ` Benjamin
2015-06-27 15:33 ` Adam Back
2015-06-27 16:09 ` Michael Naber
2015-06-27 16:28 ` Mark Friedenbach
2015-06-27 16:37 ` Peter Todd [this message]
2015-06-27 17:25 ` Michael Naber
2015-06-27 17:34 ` Peter Todd
2015-06-27 18:02 ` Jameson Lopp
2015-06-27 18:47 ` Peter Todd
2015-06-28 5:34 Raystonn
2015-06-28 10:07 ` Adam Back
2015-06-28 10:29 ` Benjamin
2015-06-28 12:37 ` Adam Back
2015-06-28 16:32 ` Raystonn .
2015-06-28 17:12 ` Mark Friedenbach
2015-06-28 17:18 ` Benjamin
2015-06-28 17:29 ` Gavin Andresen
2015-06-28 17:45 ` Mark Friedenbach
2015-06-28 17:51 ` Adam Back
2015-06-28 18:58 ` Adam Back
2015-06-28 21:05 ` Gavin Andresen
2015-06-28 21:23 ` Michael Naber
2015-06-28 22:07 ` Adam Back
2015-06-29 0:59 ` Eric Lombrozo
2015-06-29 1:13 ` Eric Lombrozo
2015-06-29 1:45 ` Andy Schroder
2015-06-30 0:42 ` Tom Harding
2015-07-10 2:55 ` Tom Harding
2015-06-28 17:53 ` Jorge Timón
2015-06-28 19:22 ` Andrew Lapp
2015-06-28 19:40 ` Benjamin
2015-06-28 12:32 ` Milly Bitcoin
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