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 D26A8899 for ; Thu, 13 Aug 2015 16:36:59 +0000 (UTC) X-Greylist: from auto-whitelisted by SQLgrey-1.7.6 Received: from st11p02im-asmtp001.me.com (st11p02im-asmtp001.me.com [17.172.220.113]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id 75ECF146 for ; Thu, 13 Aug 2015 16:36:59 +0000 (UTC) Received: from [10.0.1.7] (216-19-182-8.dyn.novuscom.net [216.19.182.8]) by st11p02im-asmtp001.me.com (Oracle Communications Messaging Server 7.0.5.35.0 64bit (built Mar 31 2015)) with ESMTPSA id <0NT100W8Y4TEFH50@st11p02im-asmtp001.me.com> for bitcoin-dev@lists.linuxfoundation.org; Thu, 13 Aug 2015 16:36:53 +0000 (GMT) X-Proofpoint-Virus-Version: vendor=fsecure engine=2.50.10432:5.14.151,1.0.33,0.0.0000 definitions=2015-08-13_07:2015-08-13, 2015-08-13, 1970-01-01 signatures=0 X-Proofpoint-Spam-Details: rule=notspam policy=default score=0 spamscore=0 suspectscore=0 phishscore=0 adultscore=0 bulkscore=0 classifier=spam adjust=0 reason=mlx scancount=1 engine=7.0.1-1412110000 definitions=main-1508130250 MIME-version: 1.0 (Mac OS X Mail 8.2 \(2102\)) Content-type: multipart/signed; boundary="Apple-Mail=_F53E5BCE-DDE1-4E2F-9E5F-8E0BCA4884C5"; protocol="application/pgp-signature"; micalg=pgp-sha512 X-Pgp-Agent: GPGMail 2.5 From: Jean-Paul Kogelman In-reply-to: Date: Thu, 13 Aug 2015 09:36:49 -0700 Message-id: References: To: Ashley Holman X-Mailer: Apple Mail (2.2102) X-Spam-Status: No, score=-2.6 required=5.0 tests=BAYES_00,RCVD_IN_DNSWL_LOW, RP_MATCHES_RCVD 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 Subject: Re: [bitcoin-dev] A summary list of all concerns related to not rising the block size 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: Thu, 13 Aug 2015 16:37:00 -0000 --Apple-Mail=_F53E5BCE-DDE1-4E2F-9E5F-8E0BCA4884C5 Content-Transfer-Encoding: quoted-printable Content-Type: text/plain; charset=utf-8 > On Aug 13, 2015, at 2:52 AM, Ashley Holman via bitcoin-dev = wrote: >=20 > A concern I have is about security (hash rate) as a function of block = size. >=20 > I am assuming that hash rate is correlated with revenue from mining. >=20 > 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=E2=80=99t 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=E2=80=99t care that much? Pay a = low fee (and anywhere in between). This market would work just fine even = if block capacity was unbounded. jp --Apple-Mail=_F53E5BCE-DDE1-4E2F-9E5F-8E0BCA4884C5 Content-Transfer-Encoding: 7bit Content-Disposition: attachment; filename=signature.asc Content-Type: application/pgp-signature; name=signature.asc Content-Description: Message signed with OpenPGP using GPGMail -----BEGIN PGP SIGNATURE----- Comment: GPGTools - https://gpgtools.org iQIcBAEBCgAGBQJVzMeiAAoJEG93Vo4Z7tpF6OcP+gK2VAhbDhL5aCCyymrBS2Sd awkLuhHf/qkAMS7v3+HgvpOv7vCSyS3TraMgUUAj5oTdyyu7FufhiS6erhCIde3w Bdeca06gdfSaUCU35X/pBuldm8+XOd0KB7dcnkX3cMKpHxJHaaWjnEAaoBsGu2f/ p5gUDO9IFWFXPVuLwnB+9CGIuEkX/Q+IE96RMwHKVRT/ZJFrb11GUDhEoTeV6W/v EO+2b/NOOtTC7FShpbuC61sI8QLfNgntgqz3iCZbIyw8JyLKb9FafdGzmnN2AFrq KU8mNn/T7K686OU29kRt0OHPayn9mKfdu4alAG6NLC/g+eJF5yEod0rjz4WjQDlP L8U133mTVdaMDm/WdRDX+WghuK6sfhzwP6g/FFdc6uxoz4kv2QpDm3pP9oTqtnEA iWLndKEilaYRGcPo3b50S4rH3BzHcPhRbkI0J8RF4pZ4M6YENd5oe6wR2MsC2/1w wHiuFiFXas7x2CQzAx5909Lap5IpVDtVFmdbgt8c3i2Zudr/B9kcJ58Z3egngKDh 260g+D/bx3SvYGqPKeTtEpp2m6SXEMDzFp5Z1hV+KVX2MS8aNFypFbz/xcoybATD KNM4DQjLNaXPc+vTAljjx7MVNxLXH3UA2irWzCb80lYe5ea6/kpfDDOZxpvCpi8q H1Pp6mfYVC8ewOqr+H82 =3gKf -----END PGP SIGNATURE----- --Apple-Mail=_F53E5BCE-DDE1-4E2F-9E5F-8E0BCA4884C5--