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From: Jim Phillips <jim@ergophobia.org>
To: Pieter Wuille <pieter.wuille@gmail.com>
Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>,
	Andreas Schildbach <andreas@schildbach.de>
Subject: Re: [Bitcoin-development] A suggestion for reducing the size of the UTXO database
Date: Sat, 9 May 2015 14:16:46 -0500	[thread overview]
Message-ID: <CANe1mWzLcmqRMJHsJvATTjyJ9fEdCDb-J0KAQhardVj3Jni6ww@mail.gmail.com> (raw)
In-Reply-To: <CAPg+sBiNLtDNqHML1n7UJC_hYtYCOjBuYNh-bZT8msVh9UKFUg@mail.gmail.com>

[-- Attachment #1: Type: text/plain, Size: 1325 bytes --]

On Sat, May 9, 2015 at 2:06 PM, Pieter Wuille <pieter.wuille@gmail.com>
wrote:

> It's a very complex trade-off, which is hard to optimize for all use
> cases. Using more UTXOs requires larger transactions, and thus more fees in
> general.
>
Unless the miner determines that the reduction in UTXO storage requirements
is worth the lower fee. There's no protocol level enforcement of a fee as
far as I understand it. It's enforced by the miners and their willingness
to include a transaction in a block.

> In addition, it results in more linkage between coins/addresses used, so
> lower privacy.
>
Not if you only select all the UTXOs from a single address. A wallet that
is geared more towards privacy minded individuals may want to reduce the
amount of address linkage, but a wallet geared towards the general masses
probably won't have to worry so much about that.

> The only way you can guarantee an economical reason to keep the UTXO set
> small is by actually having a consensus rule that punishes increasing its
> size.
>
There's an economical reason right now to keeping the UTXO set small. The
smaller it is, the easier it is for the individual to run a full node. The
easier it is to run a full node, the faster Bitcoin will spread to the
masses. The faster it spreads to the masses, the more valuable it becomes.

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  reply	other threads:[~2015-05-09 19:17 UTC|newest]

Thread overview: 45+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2015-05-09 17:09 [Bitcoin-development] A suggestion for reducing the size of the UTXO database Jim Phillips
2015-05-09 18:45 ` Peter Todd
2015-05-09 19:02   ` Jim Phillips
2015-05-09 19:00 ` Andreas Schildbach
2015-05-09 19:05   ` Jim Phillips
2015-05-09 19:06   ` Pieter Wuille
2015-05-09 19:16     ` Jim Phillips [this message]
2015-05-09 19:43       ` Ross Nicoll
     [not found] ` <3862E01F-FD0F-48F5-A6D9-F8E0FB0AB68F@newcastle.ac.uk>
     [not found]   ` <CANe1mWys1gAO1CgPEpD7rdtXF2KYfvXA6bc0q-rAzg9xOFc-5A@mail.gmail.com>
     [not found]     ` <8029969D-FD22-43F7-930D-CEC7A87CEAD5@newcastle.ac.uk>
2015-05-09 19:28       ` Jim Phillips
2015-05-10  2:11 ` Matt Whitlock
2015-05-10 12:11   ` Jim Phillips
2015-05-25 18:41   ` Mike Hearn
2015-05-25 20:03     ` Matt Whitlock
2015-05-25 20:29       ` Andreas Schildbach
2015-05-25 21:05         ` Peter Todd
2015-05-26 12:40           ` Andreas Schildbach
2015-05-25 21:14         ` Warren Togami Jr.
2015-05-25 21:12       ` Mike Hearn
2015-05-10 13:35 ` Bob McElrath
2015-05-10 14:33   ` Jeff Garzik
2015-05-10 14:42     ` Bob McElrath
2015-05-12 19:50 ` Danny Thorpe
2015-05-25 18:44 ` Mike Hearn
2015-05-25 21:26   ` Peter Todd
2015-05-25 22:03     ` Mike Hearn
2015-05-26  0:10       ` [Bitcoin-development] Cost savings by using replace-by-fee, 30-90% Peter Todd
2015-05-26 18:22         ` Danny Thorpe
2015-05-26 18:38           ` Allen Piscitello
2015-05-26 18:42           ` Aaron Voisine
2015-05-26 18:47           ` Adam Back
2015-05-26 20:18           ` Matt Whitlock
2015-05-26 20:30         ` joliver
2015-05-26 20:56           ` Mark Friedenbach
2015-05-26 21:29           ` s7r
2015-05-26 22:06             ` Adam Back
2015-05-27  1:25             ` Peter Todd
2015-05-27 19:28               ` s7r
2015-05-26 22:29           ` Jeff Garzik
2015-05-09 19:25 [Bitcoin-development] A suggestion for reducing the size of the UTXO database Raystonn
2015-05-09 19:33 ` Jim Phillips
2015-05-09 19:43 Raystonn
2015-05-09 19:52 ` Jim Phillips
2015-05-09 20:20 Raystonn
2015-05-09 20:38 ` Pieter Wuille
2015-05-09 21:11   ` Jim Phillips

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