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 DCE47CC9 for ; Tue, 9 Apr 2019 00:13:33 +0000 (UTC) X-Greylist: whitelisted by SQLgrey-1.7.6 Received: from mail-it1-f180.google.com (mail-it1-f180.google.com [209.85.166.180]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id 574DBF4 for ; Tue, 9 Apr 2019 00:13:33 +0000 (UTC) Received: by mail-it1-f180.google.com with SMTP id y134so2089712itc.5 for ; Mon, 08 Apr 2019 17:13:33 -0700 (PDT) DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=gmail.com; s=20161025; h=mime-version:references:in-reply-to:from:date:message-id:subject:to; bh=UYbzxeXwemzIefQoAQxvL8RDe34T0T89CBD50+g8pgA=; b=ps9V+qU27yzpeWmuNATUvFKNcKhn8q+N8YZjUbiNeWQ3dHp1xz06iD4Ml0bn2l3/iN E4eiw6HpNX5DTKWyvicvoxF2I3Z010UIZeZxx3R3cDKJFD7u4NCWh9pQn6KvlnWDU5P3 sg8jPYHGp1xbkE24kdMHinq8Hse1jhhXyq/lHY9I0ShatE0Hf9zO2Ior5uncUwXBvL1S z/0hqeKC1krD7amlQYwMXbhPXYiyQnwMjvqNnHIlwY0hSJaBNH2Qm5lpvPvuS1bN2MR0 dyMIX2n6+W64wjjbPYT2jxY3q+oZi9leBkdVA0DBfjdYtpc0V2qnt53wLqTn/bsmO84l +xmA== X-Google-DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=1e100.net; s=20161025; h=x-gm-message-state:mime-version:references:in-reply-to:from:date :message-id:subject:to; bh=UYbzxeXwemzIefQoAQxvL8RDe34T0T89CBD50+g8pgA=; b=Mn8LdGfZfZhI1g9NLdAnndVxP2Ti0BsmX6EJJwJdQJSFPx+YA9/vUMwL304oaCi4Zi k3aN2XEL6DM9cKOQPhslQbPclukUQ5Us9yUMR9p12qsNpiYExlBLmpwmygOTrnba1FCV jt2ou3Cwak5NeL2d53WAQg9hV/hFEjLmzWAVJP65VGruWcBoUX534/QyJfx7VV085mEK wHqLZiJth2SuIAw9lrcXW/AzA3Ju+urppU2ogseyXYdHNRjC7jyaeuqqIzMaVhYh+sve iAPFFvBoOp+DSK9KE2lZCjxf/VxilmO7oBvFMQ5rUWaU+lDADVYPuqb5ScREO2UQ+NWv zcYA== X-Gm-Message-State: APjAAAXa2Hr2s72ggAZ7DJHGvdIYn5DBjrQnDOSFyVc4anATZY3xBXYt UG4W6nCMPAc5mGx8kzR7QCopukz4tS5DrJi9pDuQoByIiQk= X-Google-Smtp-Source: APXvYqxOYYnwffUOXY7AJWr4UMt2vuf8rcusUbClcfFYeSSMMkDJ9Shrx0UaVVZlFdc1jM5QMFQ31rWBjtAM06B0BUg= X-Received: by 2002:a05:660c:202:: with SMTP id y2mr24813265itj.0.1554768812640; Mon, 08 Apr 2019 17:13:32 -0700 (PDT) MIME-Version: 1.0 References: In-Reply-To: From: Omar Shibli Date: Tue, 9 Apr 2019 03:13:21 +0300 Message-ID: To: simondev1 , Bitcoin Protocol Discussion Content-Type: multipart/alternative; boundary="000000000000c9127505860dd207" X-Spam-Status: No, score=-2.0 required=5.0 tests=BAYES_00,DKIM_SIGNED, DKIM_VALID, DKIM_VALID_AU, FREEMAIL_FROM, HTML_MESSAGE, RCVD_IN_DNSWL_NONE autolearn=ham version=3.3.1 X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on smtp1.linux-foundation.org X-Mailman-Approved-At: Tue, 09 Apr 2019 01:26:32 +0000 Subject: Re: [bitcoin-dev] new BIP: Self balancing between excessively low/high fees and block size X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Protocol Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Tue, 09 Apr 2019 00:13:34 -0000 --000000000000c9127505860dd207 Content-Type: text/plain; charset="UTF-8" Content-Transfer-Encoding: quoted-printable Mining strategy is like HFT profitable strategy, you keep it close if it= =E2=80=99s interesting, and you talk about it with the whole world if it=E2=80=99s voi= d. gl. On Sun, Apr 7, 2019 at 6:45 PM simondev1 via bitcoin-dev < bitcoin-dev@lists.linuxfoundation.org> wrote: > Dear bitcoin developers, > > New BIP: https://github.com/bitcoin/bips/pull/774 > > =3D=3DAbstract=3D=3D > Logarithm of transaction fee limits block size. > > =3D=3DMotivation=3D=3D > Keep block space small. > Waste less with spam transactions. > Auto balance Fees: Increase very low fees, Descrease very high fees. > Allow larger size when sender pays a lot. > Allow wallets to calculate/display how much average free block space ther= e > is for each fee price. > Allow senders to have more control about how the fee/priority of their > transaction will behave, especially in the case of increased adoption in > the future. > > =3D=3DSpecification=3D=3D > Every transaction has to fit into the following block space: > Input variable 'FeeInSatoshiPerByte': Must be positive or 0 > type: double > unit: Satishi per byte > Output: > type: uint > unit: bytes > Formula: > floor( log10( 1.1 + FeeInSatoshiPerByte ) * 1024 * 1024 ) > > =3D=3DImplementation=3D=3D > Sort transactions by FeeInSatoshiPerByte (lowest first) > For each transaction starting from lowest FeeInSatoshiPerByte: Sum up the > bytes of space used so far. Check if summed up bytes of space used so far > is smaller or equal than the formula result. > If this is valid for each transaction then the blocksize is valid. > > =3D=3DBackward compatibility=3D=3D > Soft fork: If applied AND old hardcoded block size limit is kept. > Hard fork: If applied AND old hardcoded block size limit is removed. > > Regards, simondev1 > > _______________________________________________ > bitcoin-dev mailing list > bitcoin-dev@lists.linuxfoundation.org > https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev > --000000000000c9127505860dd207 Content-Type: text/html; charset="UTF-8" Content-Transfer-Encoding: quoted-printable
=C2=A0Mining strategy is like HFT profita= ble strategy, you keep it close if it=E2=80=99s interesting, and you talk a= bout it with the whole world if it=E2=80=99s void. gl.

<= div class=3D"gmail_quote">
On Sun, Apr= 7, 2019 at 6:45 PM simondev1 via bitcoin-dev <bitcoin-dev@lists.linuxfoundation.org&g= t; wrote:
Dear bitcoin developers,
=C2=A0
=C2=A0
=3D=3DAbstract=3D=3D
Logarithm of transaction fee limits block size.
=C2=A0
=3D=3DMotivation=3D=3D
Keep block space small.
Waste less with spam transactions.
Auto balance Fees: Increase very low fees, Descrease very high fees.
Allow larger size when sender pays a lot.
Allow wallets to calculate/display how much average free block space there = is for each fee price.
Allow senders to have more control about how the fee/priority of their tran= saction will behave, especially in the case of increased adoption in the fu= ture.
=C2=A0
=3D=3DSpecification=3D=3D
Every transaction has to fit into the following block space:
Input variable 'FeeInSatoshiPerByte': Must be positive or 0 type: double
unit: Satishi per byte
Output:
type: uint
unit: bytes
Formula:
floor( log10( 1.1 + FeeInSatoshiPerByte ) * 1024 * 1024 )
=C2=A0
=3D=3DImplementation=3D=3D
Sort transactions by FeeInSatoshiPerByte (lowest first)
For each transaction starting from lowest FeeInSatoshiPerByte: Sum up the b= ytes of space used so far. Check if summed up bytes of space used so far is= smaller or equal than the formula result.
If this is valid for each transaction then the blocksize is valid.
=C2=A0
=3D=3DBackward compatibility=3D=3D
Soft fork: If applied AND old hardcoded block size limit is kept.
Hard fork: If applied AND old hardcoded block size limit is removed.

Regards, simondev1
=C2=A0
_______________________________________________
bitcoin-dev mailing list
= bitcoin-dev@lists.linuxfoundation.org
https://lists.linuxfoundation.org/mail= man/listinfo/bitcoin-dev
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