Re: [Bitcoin-development] Proposal: Vote on the blocksize limit with proof-of-stake voting

[Melvin Carvalho <melvincarvalho@gmail.com>]

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On 10 June 2013 10:26, John Dillon <john.dillon892@googlemail.com> wrote:

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> On Mon, Jun 10, 2013 at 8:14 AM, Melvin Carvalho
> <melvincarvalho@gmail.com> wrote:
> > -1
> >
> > Firstly I appreciate the ingenious thought that went into this post.
> >
> > However, Bitcoin's fundamental philosophy was one CPU one vote.
>
> Indeed it was. Which is why as GPU's came onto the scene Satoshi was
> strongly
> against them. I have to wonder what he thinks of ASICs where just a
> handful of
> companies control the supply of Bitcoin hashing power.
>

Thanks for your reply.  Do you have a pointer to Satoshi being strongly
against GPU?  I'd be interested to see that.  FWIW, I've read all his forum
posts a few times, I just dont recall this one, tho I'm sure it's there...


>
> Satoshi also never forsaw pools, which are why just 2 or 3 people control
> the
> majority of Bitcoin hashing power.
>
> > The asymmetry lies in psychological terms, in that new defaults tend to
> be
> > adopted 80% of the time, so core devs have disproportionate amount of
> power
> > as things stand.
>
> That's why I'm very clear that doing nothing is a vote for the status quo.
> Of
> course wallet authors can do what they want to try to get users to vote
> according to their wishes, or for that matter simply steal your vote, but
> we
> already must put a lot of faith into wallets to not steal our funds.
>
> > Unless there's a very good reason not to, e.g. miners are clearly abusing
> > the system, we should stick with 1 CPU one vote.
>
> People are proposing we put control of the blocksize entirely into the
> hands of
> miners, yet we all have an interest in auditing the blocks miners produce.
> There must be balance.
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