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From: Jeff Garzik <jgarzik@gmail.com>
To: "Jorge Timón" <jtimon@jtimon.cc>
Cc: Bitcoin Dev <bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] Block size: It's economics & user preparation & moral hazard
Date: Wed, 16 Dec 2015 16:36:18 -0500	[thread overview]
Message-ID: <CADm_WcZncVOV_F7dGp4Xs15xgKwdixdn8wWHML8whRfR_1uNnw@mail.gmail.com> (raw)
In-Reply-To: <CABm2gDrQ8X70RGVmboyBzaLmd1ZJ77+-Hdr8PG153FcFJmJ29g@mail.gmail.com>

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On Wed, Dec 16, 2015 at 4:24 PM, Jorge Timón <jtimon@jtimon.cc> wrote:

> Assuming we adopt bip102, eventually you will be able to say exactly the
> same about 2 MB. When does this "let's not change the economics" finishes
> (if ever)?
>

The question is answered in the original email.

In the short term, the risk of a Fee Event and lack of solid post-Fee-Event
economic plan implies "short term bump" reduces those risks.

It is also true - as noted in [1], a bump does create the danger of long
term moral hazard.

This is why a bump should be accompanied with at least a weak public
commitment to flexcap or a similar long term proposal, as the original
email recommended.  Communicate clearly the conditions for future change,
then iterate as needs and feedback indicate.



[1] http://gtf.org/garzik/bitcoin/BIP100-blocksizechangeproposal.pdf

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  reply	other threads:[~2015-12-16 21:36 UTC|newest]

Thread overview: 31+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2015-12-16 14:53 [bitcoin-dev] Block size: It's economics & user preparation & moral hazard Jeff Garzik
2015-12-16 18:34 ` Pieter Wuille
2015-12-16 21:08   ` Jeff Garzik
2015-12-16 21:11     ` Pieter Wuille
2015-12-17  2:06       ` Jameson Lopp
2015-12-17 16:58       ` Tier Nolan
2015-12-17 19:44         ` Peter Todd
2015-12-18  5:23           ` Jorge Timón
2015-12-18  9:44           ` Tier Nolan
2015-12-16 21:24     ` Jorge Timón
2015-12-16 21:36       ` Jeff Garzik [this message]
2015-12-18  5:11   ` Jeff Garzik
2015-12-18  7:56     ` Pieter Wuille
2015-12-18 10:13       ` sickpig
2015-12-18 15:48         ` Pieter Wuille
2015-12-19 19:04           ` Dave Scotese
     [not found]           ` <751DFAA9-9013-4C54-BC1E-5F7ECB7469CC@gmail.com>
2015-12-26 16:44             ` Pieter Wuille
2015-12-26 17:20               ` Jorge Timón
2015-12-26 22:55               ` Jonathan Toomim
2015-12-26 23:01                 ` Pieter Wuille
2015-12-26 23:07                   ` Jonathan Toomim
2015-12-26 23:16                     ` Pieter Wuille
2015-12-27  0:03                       ` Jonathan Toomim
2015-12-26 23:15                   ` Justus Ranvier
2015-12-27  0:13                     ` Bryan Bishop
2015-12-27  0:33                       ` Justus Ranvier
2015-12-18 13:56       ` Jeff Garzik
2015-12-23  6:26   ` Aaron Voisine
2015-12-16 18:36 ` jl2012
2015-12-16 22:27   ` Jeff Garzik
2015-12-17  6:12     ` Dave Scotese

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