Re: [bitcoin-dev] Consensus based block size retargeting algorithm (draft)

[Mark Friedenbach <mark@friedenbach.org>]

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Ah, then my mistake. It seemed so similar to an idea that was proposed
before on this mailing list:

http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-May/008033.html

that my mind just filled in the gaps. I concur -- having miners -- or any
group -- vote on block size is not an intrinsically good thing. The the
original proposal due to Greg Maxwell et al was not a mechanism for
"voting" but rather a feedback control that made the maximum block size
that which generated the most fees.

On Fri, Aug 28, 2015 at 5:00 PM, Jorge Timón <jtimon@jtimon.cc> wrote:

> On Sat, Aug 29, 2015 at 1:38 AM, Mark Friedenbach via bitcoin-dev
> <bitcoin-dev@lists.linuxfoundation.org> wrote:
> > It is in their individual interests when the larger block that is allowed
> > for them grants them more fees.
>
> I realize now that this is not what Greg Maxwell proposed (aka
> flexcap): this is just miner's voting on block size but paying with
> higher difficulty when they vote for bigger blocks.
> As I said several times in other places, miners should not decide on
> the consensus rule to limit mining centralization.
> People keep talking about miners voting on the block size or
> "softforking the size down if we went too far". But what if the
> hashing majority is perfectly fine with the mining centralization at
> that point in time?
> Then a softfork won't be useful and we're talking about an "anti-miner
> fork" (see
> https://github.com/bitcoin/bips/pull/181/files#diff-e331b8631759a4ed6a4cfb4d10f473caR158
> and
> https://github.com/bitcoin/bips/pull/181/files#diff-e331b8631759a4ed6a4cfb4d10f473caR175
> ).
>
> I believe miner's voting on the rule to limit mining centralization is
> a terrible idea.
> It sounds as bad as letting pharma companies write the regulations on
> new drugs safety, letting big food chains deciding on minimum food
> controls or car manufacturers deciding on indirect taxes for fuel.
> That's why I dislike both this proposal and BIP100.
>

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