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From: Gregory Maxwell <gmaxwell@gmail.com>
To: Mark Friedenbach <mark@monetize.io>
Cc: Bitcoin Development <bitcoin-development@lists.sourceforge.net>
Subject: Re: [Bitcoin-development] Tree-chains preliminary summary
Date: Tue, 25 Mar 2014 15:34:31 -0700	[thread overview]
Message-ID: <CAAS2fgTovm7OtFFqdRYWDw5KxV+r5WD598JPnG5ydMYAs_gQWg@mail.gmail.com> (raw)
In-Reply-To: <5331EF3D.4000504@monetize.io>

On Tue, Mar 25, 2014 at 2:03 PM, Mark Friedenbach <mark@monetize.io> wrote:
> More importantly, to your last point there is absolutely no way this
> scheme can lead to inflation. The worst that could happen is theft of
> coins willingly put into the pegging pool. But in no way is it possible
> to inflate the coin supply.

I don't think it would be entirely unfair to describe one of the
possible ways a secondary coin becoming unbacked can play out as
inflation— after all, people have described altcoins as inflation. In
the worst case its no _worse_ inflation, I think, than an altcoin is—
however.

> I will look at your proposal in more depth. But I also think you should
> give 2-way pegging a fair shake as pegging to side chains and private
> accounting servers may eliminate the need.

I think that chain geometries which improve the scale/decentralization
trade-off are complementary. If PT's ideas here do amount to something
that gives better scaling without ugly compromise I believe it would
still be useful no matter how well the 2-way peg stuff works simply
because scaling and decenteralization are both good things which we
would pretty much always want more of...



  reply	other threads:[~2014-03-25 22:34 UTC|newest]

Thread overview: 36+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2014-03-22  8:47 [Bitcoin-development] Handling miner adoption gracefully for embedded consensus systems via double-spending/replace-by-fee Peter Todd
2014-03-22 13:53 ` Jorge Timón
2014-03-22 19:34   ` Peter Todd
2014-03-22 20:12     ` Jorge Timón
2014-03-23 23:17       ` Troy Benjegerdes
2014-03-23 23:53         ` Mark Friedenbach
2014-03-24 20:34           ` Troy Benjegerdes
2014-03-24 20:57             ` Mark Friedenbach
2014-03-25 22:10               ` Troy Benjegerdes
2014-03-26  1:09                 ` kjj
2014-03-22 15:08 ` Troy Benjegerdes
2014-03-22 17:04   ` Mark Friedenbach
2014-03-22 19:08   ` Peter Todd
2014-03-23 22:37     ` Troy Benjegerdes
     [not found]     ` <532DE7E6.4050304@monetize.io>
2014-03-25 12:28       ` [Bitcoin-development] Tree-chains preliminary summary Peter Todd
2014-03-25 12:45         ` Gavin Andresen
2014-03-25 13:49           ` Peter Todd
2014-03-25 15:20             ` Mike Hearn
2014-03-25 16:47               ` Peter Todd
2014-03-25 17:37             ` Jeff Garzik
2014-03-25 18:02               ` Alan Reiner
2014-03-25 18:13                 ` slush
2014-03-25 19:47                   ` Peter Todd
2014-03-25 21:41                     ` Troy Benjegerdes
2014-03-25 20:40             ` Ricardo Filipe
2014-03-25 22:00               ` Troy Benjegerdes
2014-03-26 10:58               ` Peter Todd
2014-03-25 12:50         ` Peter Todd
2014-03-25 21:03         ` Mark Friedenbach
2014-03-25 22:34           ` Gregory Maxwell [this message]
2014-03-27 16:14             ` Jorge Timón
2014-03-28 15:10               ` Troy Benjegerdes
2014-04-17 21:41                 ` Tier Nolan
2014-03-26 10:48           ` Peter Todd
2014-08-03 17:23         ` Gregory Sanders
2014-03-24 21:17 ` [Bitcoin-development] Handling miner adoption gracefully for embedded consensus systems via double-spending/replace-by-fee Luke-Jr

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