Re: [Bitcoin-development] The Bitcoin Node Market

["Raystonn ." <raystonn@hotmail.com>]

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I am only partially through the content at the below link, and I am very impressed.  Has Justus Ranvier began work on implementation of the ideas contained therein?


From: sickpig@gmail.com 
Sent: Monday, June 15, 2015 12:18 PM
To: Raystonn . 
Cc: Bitcoin Dev 
Subject: Re: [Bitcoin-development] The Bitcoin Node Market

Sorry for top posting and the brevity but I'm typing from my phone

You shoud be interested in this post by Justus Ranvier then:

https://bitcoinism.liberty.me/economic-fallacies-and-the-block-size-limit-part-2-price-discovery/

On Jun 15, 2015 8:57 PM, "Raystonn ." <raystonn@hotmail.com> wrote:

  I have been toying with an idea and figured I'd run it by everyone here
  before investing further time in it.  The goal here is to make it
  sustainable, and perhaps profitable, to run full nodes on the Bitcoin
  Network in the long term.

  - Nodes can participate in a market wherein they are paid by nodes, wallets,
  and other services to supply Bitcoin Network data.  Payment should be based
  on the cost imposed on the Node to do the work and send the data, but can be
  set in any way the node operator desires.  It's a free market.
  - Nodes that are mostly leeching data from the Bitcoin Network, such as
  those that do not receive inbound connections to port 8333, will send
  payments to the nodes they connect to, but will likely receive no payments
  from other nodes, wallets, and other services.
  - Nodes that are providing balanced full service to the Bitcoin Network will
  tend to have a balance of payments coming in and going out with regards to
  other balanced full service nodes, leaving them revenue neutral there.  But
  they will receive payments from leech nodes, wallets, and other services.

  The net effect here is that the cost to run nodes will be shared by those
  who are using the Bitcoin network but not contributing by running a full
  node.  A market will develop for fees to connect to the Bitcoin Network
  which should help cover the cost of running the Network.  It's still
  possible to continue offering access to your node for free as there is
  nothing forcing you to charge a fee.  But this isn't very sustainable
  long-run.  Market efficiencies should eventually mean nodes take in only
  what is required to keep the Network operational.

  Raystonn


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