Re: [bitcoin-dev] BIP 100 repo

[Benjamin <benjamin.l.cordes@gmail.com>]

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I would be helpful to describe what is meant by "votes". As far as I
understand this would be a semi-automatic process - nodes encode values
which in turn are hardcoded in software, or is this completely automated
without any intervention at all? Is there the possibility that nodes decide
by encode votes, but somehow this decision is not adhered to? Is 4. a 51%
rule?

Under 2. it might make sense to specify values in the range (1MB steps
e.g.). The number of options could have an effect. For example if the vote
has 4 possible values or 32 possible values can make a difference in
outcomes.

With regards to 1. Bitcoin does not have a fee market, although I agree
that might be a good goal. There is no price-determination of fees and no
definition of quality of service. A fee market would entail some matching
of demand and supply to establish a price. Users would adjust fee to win a
transaction slow in a deterministic way. However currently the user has no
way of knowing what effect a fee might have. So this would necessarily
include some kind pricing-mechanism with actual commitments. Bitcoin as a
system is quite far away from such a capability. It would mean Bitcoin is
capable of adapting to how it is used. For example that would allow to
shift transactions from high demand period to low demand period. I'm not
aware of any proposal to make an actual functioning fee market in Bitcoin
(or even the conceptual primitives).



On Thu, Sep 3, 2015 at 5:09 AM, Jeff Garzik via bitcoin-dev <
bitcoin-dev@lists.linuxfoundation.org> wrote:

> Oh, and answering your question about the 1M:  It is a safety rail.  It
> can perform no worse on the low end than the current system.  Eliminates
> unlikely scenarios that squeeze users.
>
>
> On Wed, Sep 2, 2015 at 8:17 PM, Luke Dashjr <luke@dashjr.org> wrote:
>
>> On Wednesday, September 02, 2015 11:58:54 PM Jeff Garzik via bitcoin-dev
>> wrote:
>> > The repo: https://github.com/jgarzik/bip100
>>
>> What is the purpose of the newly added 1 MB floor? It seems clear from the
>> current information available that 1 MB is presently too high for the
>> limit,
>> and it is entirely one-sided to only allow increases when decreases are
>> much
>> more likely to be needed in the short term.
>>
>> Must the new size limit votes use 11 bytes of coinbase? Why not just use a
>> numeric value pushed after height? Since this is a hardfork, I suggest
>> increasing the coinbase length to allow for 100 bytes *in addition* to the
>> pushed height and size-vote.
>>
>> I suggest combining 2 & 4 into a single rule lifting the 1 MB limit to 32
>> MB
>> (or whatever value is deemed appropriate) to make it clear that the limit
>> remains a part of the consensus protocol and p2p protocol limits are not
>> to
>> have an effect on consensus rules.
>>
>> Furthermore, I suggest modifying the voting to require 50% to set the
>> limit
>> floor. This has the effect of merely coordinating what miners can already
>> effectively do today by rejecting blocks larger than some collusion-
>> determined limit.
>>
>> Thoughts?
>>
>> Luke
>>
>
>
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