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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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  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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