Re: [Bitcoin-development] User vote in blocksize through fees

[Mats Henricson <mats@henricson.se>]

Jeff,

with all due respect, but I've seen you saying this a few times
now, that this decision is oh so difficult and important.

But this is not helpful. We all know that. Even I.

Make a suggestion, or stay out of the debate!

Mats

On 06/14/2015 07:36 AM, Jeff Garzik wrote:
> The choice is very real and on-point.  What should the block size limit
> be?  Why?
> 
> There is a large consensus that it needs increasing.  To what?  By what
> factor?
> 
> The size limit literally defines the fee market, the whole damn thing.  If
> software high priests choose a size limit of 300k, space is scarce, fees
> are bid high.  If software high priests choose a size limit of 32mb, space
> is plentiful, fees are near zero.  Market actors take their signals
> accordingly.  Some business models boom, some business models fail, as a
> direct result of changing this unintentionally-added speedbump.  Different
> users value adoption, decentralization etc. differently.
> 
> The size limit is an economic policy lever that needs to be transitioned
> -away- from software and software developers, to the free market.
> 
> A simple, e.g. hard fork to 2MB or 4MB does not fix higher level governance
> problems associated with actors lobbying developers, even if a cloistered
> and vetted Technical Advisory Board as has been proposed.
> 
> 
> 
> 
> 
> 
> 
> On Sun, Jun 14, 2015 at 1:20 AM, Eric Lombrozo <elombrozo@gmail.com> wrote:
> 
>> I definitely think we need some voting system for metaconsensus…but if
>> we’re going to seriously consider this we should look at the problem much
>> more generally. Using false choices doesn’t really help, though ;)
>>
>> - Eric Lombrozo
>>
>>
>> On Jun 13, 2015, at 10:13 PM, Jeff Garzik <jgarzik@bitpay.com> wrote:
>>
>> On Sun, Jun 14, 2015 at 1:08 AM, Eric Lombrozo <elombrozo@gmail.com>
>> wrote:
>>
>>> 2) BIP100 has direct economic consequences…and particularly for miners.
>>> It lends itself to much greater corruptibility.
>>>
>>>
>> What is the alternative?  Have a Chief Scientist or Technical Advisory
>> Board choose what is a proper fee, what is a proper level of
>> decentralization, a proper growth factor?
>>
>>
>>
> 
> 
> 
> 
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> 
> 
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