From: Jean-Paul Kogelman <jeanpaulkogelman@me.com>
To: Ashley Holman <dscvlt@gmail.com>
Cc: Bitcoin Dev <bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] A summary list of all concerns related to not rising the block size
Date: Thu, 13 Aug 2015 09:36:49 -0700 [thread overview]
Message-ID: <A154BD97-349B-4C5B-9C78-AC731BFB029C@me.com> (raw)
In-Reply-To: <CAOXABZrMcpf4s=BuGsuLLoV80xt=hcd-i+h0V+AdJDQ2D8NKXg@mail.gmail.com>
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> On Aug 13, 2015, at 2:52 AM, Ashley Holman via bitcoin-dev <bitcoin-dev@lists.linuxfoundation.org> wrote:
>
> A concern I have is about security (hash rate) as a function of block size.
>
> I am assuming that hash rate is correlated with revenue from mining.
>
> Total revenue from fees as a function of block size should be a curve. On one extreme of the curve, if blocks are too big, fee revenue tends towards 0 as there is no competition for block space.
This isn’t necessarily true. Every miner has its own mining policy. If they choose to delay including transactions proportional to their fee + first seen, then you create a time based fee market. Want quick confirmation? Pay a high fee. Don’t care that much? Pay a low fee (and anywhere in between). This market would work just fine even if block capacity was unbounded.
jp
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next prev parent reply other threads:[~2015-08-13 16:36 UTC|newest]
Thread overview: 18+ messages / expand[flat|nested] mbox.gz Atom feed top
2015-08-12 9:59 [bitcoin-dev] A summary list of all concerns related to not rising the block size Jorge Timón
2015-08-12 11:21 ` Venzen Khaosan
2015-08-14 22:35 ` Jorge Timón
2015-08-14 23:12 ` Jorge Timón
2015-08-14 23:57 ` Jorge Timón
2015-08-20 21:11 ` Elliot Olds
2015-08-20 21:29 ` Ahmed Zsales
2015-08-12 19:52 ` Elliot Olds
2015-08-14 22:55 ` Jorge Timón
2015-08-15 20:36 ` Elliot Olds
2015-08-13 9:52 ` Ashley Holman
2015-08-13 16:36 ` Jean-Paul Kogelman [this message]
2015-08-14 22:57 ` Jorge Timón
2015-08-13 22:01 ` Geir Harald Hansen
2015-08-14 2:26 ` Venzen Khaosan
2015-08-14 11:35 ` Marcel Jamin
2015-08-14 13:48 ` Thomas Zander
2015-08-14 22:59 ` Jorge Timón
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