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 3A9BB941 for ; Sat, 8 Apr 2017 18:50:58 +0000 (UTC) X-Greylist: whitelisted by SQLgrey-1.7.6 Received: from mail-pf0-f178.google.com (mail-pf0-f178.google.com [209.85.192.178]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id BF55E8D for ; Sat, 8 Apr 2017 18:50:57 +0000 (UTC) Received: by mail-pf0-f178.google.com with SMTP id i5so17220876pfc.2 for ; Sat, 08 Apr 2017 11:50:57 -0700 (PDT) DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=voskuil-org.20150623.gappssmtp.com; s=20150623; h=subject:to:references:from:message-id:date:user-agent:mime-version :in-reply-to:content-transfer-encoding; bh=70T1pwkAPccsJGee4tyjABIq2X5GMGD5NYd3QcX7mp8=; b=ROA1hKeAOJW/xOpXToME1ZLsP7iE6vXJ5naN3MNh+zRb2MyQDuNLnDv0OSnPibL+2a xWo7vyLh1STM9DNPwA33pYTaHRvYz5UePDLgkh6uYDLeYpOGdcTnKJG2JLdZzuw7Rt4o rSkDwq16M3Wc6FsZ+oY2ECE4sQ4H/QifLtbXn+gAO8FNEk0LPadZEpQYqWCou7sIBjC/ IbAf8bAWXDozE5zUtlXjxyQ6KUDSGG8/+QpzPJDFQl4Od3i59EWnGmZSeJ1UrlT26TK1 TQJr4sfnfWrl6R7dwySEm/5Ue04UibRrfXKj7ry6RVgJ72Uv4chzYLMHYtYI4/p2ri04 dwSw== X-Google-DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=1e100.net; s=20161025; h=x-gm-message-state:subject:to:references:from:message-id:date :user-agent:mime-version:in-reply-to:content-transfer-encoding; bh=70T1pwkAPccsJGee4tyjABIq2X5GMGD5NYd3QcX7mp8=; b=fpcf126tSVL8kTftrULSimmYNELMrlnyHWJydkWO5GiE9WKXUp2rLUrPjIAZw5IFji mxDht75ajJyPtH1dMsrl1fKwkGnUDA5t8/xJxmQefQKJ/3lT2A/jj3x9ErJ1YgFbm+dK d6U09VGr6rPTB7Ka/QdG1YvhdIv4F/5jnqaGVHvmUwV+0+Vij3lionTrs5qwsWoISOeg VaHXCSe/0zOGj+RzQHoAQGeHjirtmzWbeZaB4vFidwx4FZ+vFzaT2DGY1HIXSEX0jntA D6dbvx1nB6hZhU/2tCKeciSfehJ94PDXOV1d/1LxyMrUqq/rM6pWjIT0QVK4X6aHthg3 VITg== X-Gm-Message-State: AFeK/H01b65yIR0D/f3ncRASVvSU31VJlkaXOB55aubpUqnhO/LypiORr72D9DNxfIaSgw== X-Received: by 10.99.120.74 with SMTP id t71mr48061565pgc.184.1491677457290; Sat, 08 Apr 2017 11:50:57 -0700 (PDT) Received: from ?IPv6:2601:600:9000:d69e:7543:944:9329:6f9? ([2601:600:9000:d69e:7543:944:9329:6f9]) by smtp.gmail.com with ESMTPSA id r185sm4633161pfr.72.2017.04.08.11.50.56 (version=TLS1_2 cipher=ECDHE-RSA-AES128-GCM-SHA256 bits=128/128); Sat, 08 Apr 2017 11:50:56 -0700 (PDT) To: praxeology_guy , Bitcoin Protocol Discussion References: From: Eric Voskuil X-Enigmail-Draft-Status: N1110 Message-ID: <81ee68f1-6f02-5383-7b95-f656587d89ac@voskuil.org> Date: Sat, 8 Apr 2017 11:51:32 -0700 User-Agent: Mozilla/5.0 (X11; Linux x86_64; rv:45.0) Gecko/20100101 Thunderbird/45.5.1 MIME-Version: 1.0 In-Reply-To: Content-Type: text/plain; charset=utf-8 Content-Transfer-Encoding: 7bit X-Spam-Status: No, score=-1.4 required=5.0 tests=BAYES_00,DKIM_SIGNED, DKIM_VALID, RCVD_IN_DNSWL_NONE, RCVD_IN_SORBS_SPAM autolearn=no version=3.3.1 X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on smtp1.linux-foundation.org X-Mailman-Approved-At: Sat, 08 Apr 2017 18:51:33 +0000 Subject: Re: [bitcoin-dev] A Small Modification to Segwit X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Protocol Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Sat, 08 Apr 2017 18:50:58 -0000 -----BEGIN PGP SIGNED MESSAGE----- Hash: SHA256 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 -----BEGIN PGP SIGNATURE----- Version: GnuPG v2.0.22 (GNU/Linux) iQEcBAEBCAAGBQJY6TEUAAoJEDzYwH8LXOFOiQIH/RN8YhLCokZtGoFZ+dOgwCxc /ej3m9CXVGyWvcCJMQd2ZJFgpjL5mgJdcCdaWoTeZfh0Nmvc3hDex46wWpUZc/mR NbRj56hyqe+cWAwQJJpAOWiJXjEuS3npXFvZIBpslECXCL6U+LSxdW9WSg0w+HBD jihIlG2TeGSrMR/atKfSnVRAnz9ahPvgUwcR8l7oLsjP2JvBGl+fQHL5MwpvRg4a sXK3eMIeH7wGJyiKOwXyMeRMfCRlwpkBCw0R+FYt2Q5l/uwkRAKuJiYUlJixFAZA ggQth02pFn/tASB49oBKZU3QviVRGgoIQ5DFyI8OPa10FeVsxaeNeBQylwWJA3c= =Ryo5 -----END PGP SIGNATURE-----