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From: Peter Todd <pete@petertodd.org>
To: Tier Nolan <tier.nolan@gmail.com>
Cc: Bitcoin development mailing list <bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] Block size: It's economics & user preparation & moral hazard
Date: Thu, 17 Dec 2015 11:44:08 -0800	[thread overview]
Message-ID: <20151217194407.GB1351@muck> (raw)
In-Reply-To: <CAE-z3OVD67rDefFzbpuzTO0=54_hJzSfSPg735zk_vjsANmEhQ@mail.gmail.com>

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On Thu, Dec 17, 2015 at 04:58:02PM +0000, Tier Nolan via bitcoin-dev wrote:
> This is really the most important question.
> 
> Bitcoin is kind of like a republic where there is separation of powers
> between various groups.
> 
> The power blocs in the process include
> 
> - Core Devs
> - Miners
> - Exchanges
> - Merchants
> - Customers
> 
> Complete agreement is not required for a change.  If merchants and their
> customers were to switch to different software, then there is little any of
> the other groups could do.

If Bitcoin remains decentralized, miners have veto power over any
blocksize increases. You can always soft-fork in a blocksize reduction
in a decentralized blockchain that actually works.

-- 
'peter'[:-1]@petertodd.org
000000000000000001bd68962863e6fa34e9776df361d4926912f52fc5f4b618

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  reply	other threads:[~2015-12-17 19:44 UTC|newest]

Thread overview: 31+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2015-12-16 14:53 [bitcoin-dev] Block size: It's economics & user preparation & moral hazard Jeff Garzik
2015-12-16 18:34 ` Pieter Wuille
2015-12-16 21:08   ` Jeff Garzik
2015-12-16 21:11     ` Pieter Wuille
2015-12-17  2:06       ` Jameson Lopp
2015-12-17 16:58       ` Tier Nolan
2015-12-17 19:44         ` Peter Todd [this message]
2015-12-18  5:23           ` Jorge Timón
2015-12-18  9:44           ` Tier Nolan
2015-12-16 21:24     ` Jorge Timón
2015-12-16 21:36       ` Jeff Garzik
2015-12-18  5:11   ` Jeff Garzik
2015-12-18  7:56     ` Pieter Wuille
2015-12-18 10:13       ` sickpig
2015-12-18 15:48         ` Pieter Wuille
2015-12-19 19:04           ` Dave Scotese
     [not found]           ` <751DFAA9-9013-4C54-BC1E-5F7ECB7469CC@gmail.com>
2015-12-26 16:44             ` Pieter Wuille
2015-12-26 17:20               ` Jorge Timón
2015-12-26 22:55               ` Jonathan Toomim
2015-12-26 23:01                 ` Pieter Wuille
2015-12-26 23:07                   ` Jonathan Toomim
2015-12-26 23:16                     ` Pieter Wuille
2015-12-27  0:03                       ` Jonathan Toomim
2015-12-26 23:15                   ` Justus Ranvier
2015-12-27  0:13                     ` Bryan Bishop
2015-12-27  0:33                       ` Justus Ranvier
2015-12-18 13:56       ` Jeff Garzik
2015-12-23  6:26   ` Aaron Voisine
2015-12-16 18:36 ` jl2012
2015-12-16 22:27   ` Jeff Garzik
2015-12-17  6:12     ` Dave Scotese

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