From mboxrd@z Thu Jan 1 00:00:00 1970 Return-Path: Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org [172.17.192.35]) by mail.linuxfoundation.org (Postfix) with ESMTPS id CBF68122A for ; Tue, 1 Sep 2015 08:06:38 +0000 (UTC) X-Greylist: domain auto-whitelisted by SQLgrey-1.7.6 Received: from mout.gmx.net (mout.gmx.net [212.227.15.18]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id 3ED1CA8 for ; Tue, 1 Sep 2015 08:06:38 +0000 (UTC) Received: from [192.168.50.29] ([69.50.179.106]) by mail.gmx.com (mrgmx001) with ESMTPSA (Nemesis) id 0MZkv0-1ZGepz1Nra-00LYDp; Tue, 01 Sep 2015 10:06:34 +0200 Content-Type: multipart/signed; boundary="Apple-Mail=_E98E1841-0E5B-4B92-BC9D-CFD0B16F58C6"; protocol="application/pgp-signature"; micalg=pgp-sha512 Mime-Version: 1.0 (Mac OS X Mail 6.6 \(1510\)) From: Peter R In-Reply-To: <20150901075613.GD17380@muck> Date: Tue, 1 Sep 2015 01:06:30 -0700 Message-Id: <7E54183F-DDBD-4EFB-828B-841350A80E33@gmx.com> References: <20150901075613.GD17380@muck> To: Peter Todd X-Mailer: Apple Mail (2.1510) X-Provags-ID: V03:K0:ONxQnHIONkP4diD1mIGJ46VmHlP1AVAPgjPq4Fjxe7H/TkPElbo sPWYVfU/ntTmGwqTY/QhDOCBKeXtbhxottOFS/cfOH+UVFaoSSg7SHTvRl7qVplQqncYXf7 pCn+J8maxik3HDFvBfwNpeLuGoz9NYydvMWyaxieYXYCL7C9WuCKiPaL2Fh2UFphq5Hj8uT KnwrZmNyToTE2fM8Cvwog== X-UI-Out-Filterresults: notjunk:1;V01:K0:vAq+Dr6IECU=:kbydSzoqhf768Te2x9i/lI 6ZaUEySxboBniMAoKHBmC14OEDPGuW0DYo++s4vS1x4Fm6TYhdKZc/3TRVdCxWfrrz8fMRsVd KSOan9G49TgIFvMGcgY0IMVaIq6AO3Mzehdhm3OfUqxeFilGEgaCHANu+Bjo+u9ucQVy5Av9c cjs7udCNQgOeb7tJZaFgbPGKbf3fuyaodHg0JuXzUMr605goVzOBtQCaFkF8cMHLMvL2hOjpt 4BGulzU73U9szzZ+XqS1j4GrBwtU10cIaF5FXCPpcNUFp+j7kFgp0xLMpdtsrH6o+4CIXJ/d9 6YfU5nBH+vGmydLd73zLGr4oVckTkVsrBx21Gh6WOfVouahxX5wPuB7G2nQUdzXAqY33QYWkP 5n1nzw57nRFkEyTE4YS58i2vL8CHd2tY7ql/fzDKm0FboGtVcTCaqhFR7jN1Voa9XLa+5/MQq IVr5AWe+Ck2v+KCNJL9LPQTzD5p0o6IrLqlWwG+KUqrshEC9CzNr16V5bZE29I7fgff+jmnny l8XVfTFYHGCVUKn/18yim2Bwi6nCtZ085+hn1CcfDQtNutNyPi2KrwgTzlBnMuL+Xmc2PWsGb w/fv357JahgMS8EIaQvLJHCBeIt1dfSX6hriUBLTF4hmU0PQL8BAmLzJOEO7oweDXwls+BXmZ /Oxl+IQSNrTT/fdkIvOXhbH4l6AhKBWk/tPOB/MpYbd5Qrk+tkLasmgVsnuNFau9Pwc/r/D8P J8R2crdqtYv8LdiL X-Spam-Status: No, score=-2.6 required=5.0 tests=BAYES_00,FREEMAIL_FROM, HTML_MESSAGE,RCVD_IN_DNSWL_LOW autolearn=ham version=3.3.1 X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on smtp1.linux-foundation.org Cc: bitcoin-dev@lists.linuxfoundation.org, Daniele Pinna Subject: Re: [bitcoin-dev] ERRATA CORRIGE + Short Theorem X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Development Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Tue, 01 Sep 2015 08:06:38 -0000 --Apple-Mail=_E98E1841-0E5B-4B92-BC9D-CFD0B16F58C6 Content-Type: multipart/alternative; boundary="Apple-Mail=_B6DC1B39-B335-44F4-B54D-40BF68824D39" --Apple-Mail=_B6DC1B39-B335-44F4-B54D-40BF68824D39 Content-Transfer-Encoding: quoted-printable Content-Type: text/plain; charset=us-ascii On 2015-09-01, at 12:56 AM, Peter Todd via bitcoin-dev = wrote >=20 > FWIW I did a quick math proof along those lines awhile back too using > some basic first-year math, again proving that larger miners earn more > money per unit hashing power: >=20 > = http://www.mail-archive.com/bitcoin-development@lists.sourceforge.net/msg0= 3272.html I don't believe anyone is arguing otherwise. Miners with a larger = fraction of the network hash rate, h/H, have a theoretical advantage, = all other variables in the miner's profitability equation held constant. = =20 Dpinna originally claimed (unless I'm mistaken) that his paper showed = that this advantage decreased as the block reward diminished or as the = total fees increased. This didn't seem unreasonable to me, although I = never checked the math. =20 Best regards, Peter =20 --Apple-Mail=_B6DC1B39-B335-44F4-B54D-40BF68824D39 Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset=us-ascii bitcoin-dev@lists.li= nuxfoundation.org> wrote

FWIW = I did a quick math proof along those lines awhile back too using
some = basic first-year math, again proving that larger miners earn = more
money per unit hashing power:

http://www.mail-archive.com/bitcoin-development@lists.s= ourceforge.net/msg03272.html

I don't = believe anyone is arguing otherwise.  Miners with a larger fraction = of the network hash rate, h/H, have a theoretical = advantage, all other variables in the miner's profitability equation = held constant.  

Dpinna originally claimed = (unless I'm mistaken) that his paper showed that this advantage = decreased as the block reward diminished or as the total fees = increased.  This didn't seem unreasonable to me, although I never = checked the math.  

Best = regards,
Peter


 
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