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From: Jeff Garzik <jgarzik@bitpay.com>
To: Eric Lombrozo <elombrozo@gmail.com>
Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
Subject: Re: [Bitcoin-development] User vote in blocksize through fees
Date: Sun, 14 Jun 2015 01:36:45 -0400	[thread overview]
Message-ID: <CAJHLa0NrNqECvqhJWNX=rt3-h4U3jwFWoMCrcbyC6hUT5EqWbw@mail.gmail.com> (raw)
In-Reply-To: <04527D50-0118-4E74-8226-3E29B29CC7D8@gmail.com>

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The choice is very real and on-point.  What should the block size limit
be?  Why?

There is a large consensus that it needs increasing.  To what?  By what
factor?

The size limit literally defines the fee market, the whole damn thing.  If
software high priests choose a size limit of 300k, space is scarce, fees
are bid high.  If software high priests choose a size limit of 32mb, space
is plentiful, fees are near zero.  Market actors take their signals
accordingly.  Some business models boom, some business models fail, as a
direct result of changing this unintentionally-added speedbump.  Different
users value adoption, decentralization etc. differently.

The size limit is an economic policy lever that needs to be transitioned
-away- from software and software developers, to the free market.

A simple, e.g. hard fork to 2MB or 4MB does not fix higher level governance
problems associated with actors lobbying developers, even if a cloistered
and vetted Technical Advisory Board as has been proposed.







On Sun, Jun 14, 2015 at 1:20 AM, Eric Lombrozo <elombrozo@gmail.com> wrote:

> I definitely think we need some voting system for metaconsensus…but if
> we’re going to seriously consider this we should look at the problem much
> more generally. Using false choices doesn’t really help, though ;)
>
> - Eric Lombrozo
>
>
> On Jun 13, 2015, at 10:13 PM, Jeff Garzik <jgarzik@bitpay.com> wrote:
>
> On Sun, Jun 14, 2015 at 1:08 AM, Eric Lombrozo <elombrozo@gmail.com>
> wrote:
>
>> 2) BIP100 has direct economic consequences…and particularly for miners.
>> It lends itself to much greater corruptibility.
>>
>>
> What is the alternative?  Have a Chief Scientist or Technical Advisory
> Board choose what is a proper fee, what is a proper level of
> decentralization, a proper growth factor?
>
>
>


-- 
Jeff Garzik
Bitcoin core developer and open source evangelist
BitPay, Inc.      https://bitpay.com/

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  reply	other threads:[~2015-06-14  5:37 UTC|newest]

Thread overview: 42+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2015-06-12 18:11 [Bitcoin-development] User vote in blocksize through fees Peter Todd
2015-06-12 18:20 ` Mark Friedenbach
2015-06-12 18:26   ` Matt Whitlock
2015-06-12 18:36     ` Peter Todd
2015-06-12 18:56     ` Jannes Faber
     [not found]       ` <CABr1YTfowMqgDZoWhDXiM0Bd3dwhVo6++FOvLntGc2HkApEbGw@mail.gmail.com>
2015-06-12 20:04         ` Eric Lombrozo
2015-06-12 23:01           ` Vincent Truong
2015-06-12 23:11             ` Luke Dashjr
2015-06-12 23:23           ` Aaron Gustafson
2015-06-12 18:22 ` Matt Whitlock
2015-06-12 18:34   ` Peter Todd
2015-06-12 18:36     ` Matt Whitlock
2015-06-12 18:39       ` Benjamin
2015-06-12 18:47         ` Peter Todd
2015-06-12 18:44       ` Peter Todd
2015-06-12 18:52         ` Matt Whitlock
2015-06-12 18:54         ` Matt Whitlock
2015-06-12 18:56           ` Aaron Gustafson
2015-06-13 22:20 ` Danny Thorpe
2015-06-13 22:24   ` Eric Lombrozo
2015-06-14  4:55   ` Chun Wang
2015-06-14  4:59     ` Jeff Garzik
2015-06-14  5:08     ` Eric Lombrozo
2015-06-14  5:13       ` Jeff Garzik
2015-06-14  5:20         ` Eric Lombrozo
2015-06-14  5:36           ` Jeff Garzik [this message]
2015-06-14 10:06             ` Mats Henricson
2015-06-14 10:34               ` Benjamin
2015-06-14 15:07                 ` Jeff Garzik
2015-06-14 21:59                   ` odinn
2015-06-14 20:10                 ` Eric Lombrozo
2015-06-14 14:42               ` Jeff Garzik
2015-06-14 22:26                 ` Mike Hearn
2015-06-15  3:59             ` Eric Lombrozo
2015-06-14  4:16 ` Stephen
2015-06-14  4:50   ` Eric Lombrozo
2015-06-14  4:56   ` Jeff Garzik
2015-06-14  7:19 ` Ashley Holman
2015-06-13 23:57 Raystonn
2015-06-14  4:28 ` odinn
2015-06-14  5:46   ` Aaron Voisine
2015-06-14 21:38     ` odinn

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