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From: Eric Voskuil <eric@voskuil.org>
To: praxeology_guy <praxeology_guy@protonmail.com>,
	Bitcoin Protocol Discussion
	<bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] A Small Modification to Segwit
Date: Sat, 8 Apr 2017 11:51:32 -0700	[thread overview]
Message-ID: <81ee68f1-6f02-5383-7b95-f656587d89ac@voskuil.org> (raw)
In-Reply-To: <EGttip9r0Zojmerlfqy3dd3f-hwiADc5n908xjPIQhNZv7_yvybiqvU-iKQ0mSDSFfRBrd9gszWzBHTXujUBTNPE44CMXLpXKIj40iHjWoA=@protonmail.com>

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On 04/08/2017 11:15 AM, praxeology_guy via bitcoin-dev wrote:
> ASICBOOST causes Bitcoin's PoW to become more memory/latency
> throttled instead of raw computation throttled.
> 
> There is the equation: Power Cost + Captial Rent + Labor ~= block
> reward + fees
> 
> Capital Rent is a barrier to entry, and hence in desiring a more 
> distributed system, we would like to minimize the Capital Rent
> portion of the equation.
> 
> Resolving memory/latency throttle requires a greater Captial Rent
> than raw computation throttle.
> 
> Hence (agreeing with Luke), ASICBOOST is not desirable, even if it 
> wasn't a government enforced monopoly on mining.
> 
> Please let me know if I made a mistake.

Electric power is not an abstraction, it's the output of machines.
What you are referring to as Power Cost typically consists of a higher
rent component than computing hardware, where rent is the sharing of a
resource by multiple people. So by your reasoning you appear to have
drawn the wrong conclusion.

e
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  reply	other threads:[~2017-04-08 18:50 UTC|newest]

Thread overview: 41+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2017-04-07 20:06 [bitcoin-dev] A Small Modification to Segwit Jimmy Song
2017-04-08  0:05 ` Jimmy Song
2017-04-08 14:59   ` Luke Dashjr
2017-04-08 15:17     ` Jimmy Song
2017-04-08 16:05       ` Luke Dashjr
2017-04-08 16:16         ` Jimmy Song
2017-04-08 16:19   ` Timo Hanke
2017-04-08  1:48 ` praxeology_guy
2017-04-08  2:46   ` Jimmy Song
2017-04-08  8:33     ` Pavel Moravec
2017-04-08 14:35       ` Jimmy Song
2017-04-08 16:38         ` Pavel Moravec
2017-04-08 22:19           ` Jimmy Song
2017-04-08 18:15         ` praxeology_guy
2017-04-08 18:51           ` Eric Voskuil [this message]
2017-04-08 20:38             ` praxeology_guy
2017-04-09 11:46           ` Jorge Timón
2017-04-08 16:27     ` Jorge Timón
2017-04-08 17:22       ` Jorge Timón
2017-04-08 22:26         ` Jimmy Song
2017-04-09 11:48           ` Jorge Timón
2017-04-09 14:01             ` Jimmy Song
     [not found]               ` <CABm2gDqfsBREj2x5Uz9hxwt-Y6m=KHd2-hRw4gV0CbO+-8B0dg@mail.gmail.com>
2017-04-10  9:16                 ` Jorge Timón
2017-04-09 18:44   ` Erik Aronesty
2017-04-09 21:16     ` Jared Lee Richardson
2017-04-09 23:51       ` David Vorick
2017-04-10  0:20         ` Erik Aronesty
2017-04-10  1:45           ` Thomas Daede
2017-04-10 14:34     ` Bram Cohen
2017-04-10 14:46     ` Bram Cohen
2017-04-10 15:25     ` g
2017-04-10 18:17       ` Erik Aronesty
2017-04-11  2:39         ` g
2017-04-11 18:39           ` Staf Verhaegen
2017-04-11  9:31       ` Sancho Panza
2017-04-11 13:00         ` Jorge Timón
2017-04-11  7:59 ` Tom Zander
2017-04-11 13:25   ` Sancho Panza
2017-04-11 14:40     ` Jimmy Song
2017-04-11 21:25       ` Jorge Timón
2017-04-11 23:42         ` Jimmy Song

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