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From: Jeff Garzik <jgarzik@gmail.com>
To: Bitcoin development mailing list <bitcoin-dev@lists.linuxfoundation.org>
Subject: [bitcoin-dev] block size - pay with difficulty
Date: Thu, 3 Sep 2015 00:05:11 -0400	[thread overview]
Message-ID: <CADm_Wcb+5Xo3HS-FNUYtCapVpYfVvUS_fxpU0Q=TZHJW1=iAFQ@mail.gmail.com> (raw)

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Schemes proposing to pay with difficulty / hashpower to change block size
should be avoided.  The miners incentive has always been fairly
straightforward - it is rational to deploy new hashpower as soon as you can
get it online.  Introducing the concepts of (a) requiring out-of-band
collusion to change block size and/or (b) requiring miners to have idle
hashpower on hand to change block size are both unrealistic and potentially
corrosive.  That potentially makes the block size - and therefore fee
market - too close, too sensitive to the wild vagaries of the mining chip
market.

Pay-to-future-miner has neutral, forward looking incentives worth
researching.

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             reply	other threads:[~2015-09-03  4:05 UTC|newest]

Thread overview: 12+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2015-09-03  4:05 Jeff Garzik [this message]
2015-09-03  4:55 ` [bitcoin-dev] block size - pay with difficulty jl2012
2015-09-03 14:18   ` Jeff Garzik
2015-09-03 18:24     ` jl2012
2015-09-03  6:57 ` Gregory Maxwell
2015-09-03 14:31   ` Jeff Garzik
2015-09-03 14:40     ` Jeff Garzik
2015-09-03 17:57       ` Gregory Maxwell
2015-09-03 18:23         ` Jorge Timón
2015-09-03 18:28           ` Btc Drak
2015-09-03 19:17           ` Gregory Maxwell
2015-09-03 18:23 ` Tom Harding

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