diff options
| author | Jeff Garzik <jgarzik@gmail.com> | 2015-12-16 16:27:15 -0500 |
|---|---|---|
| committer | bitcoindev <bitcoindev@gnusha.org> | 2015-12-16 21:27:17 +0000 |
| commit | 1cd69ec2903726305358f392158986ae0fd419a8 (patch) | |
| tree | cfe717b87006097def7616ea36eef9245cbd0848 | |
| parent | c84922522a3edfe39f53d72ee8cb7f3e08130a4d (diff) | |
| download | pi-bitcoindev-1cd69ec2903726305358f392158986ae0fd419a8.tar.gz pi-bitcoindev-1cd69ec2903726305358f392158986ae0fd419a8.zip | |
Re: [bitcoin-dev] Segregated Witness in the context of Scaling Bitcoin
| -rw-r--r-- | 54/3d222449e96b47eeacf09f0fbf49f9d57ce40a | 144 |
1 files changed, 144 insertions, 0 deletions
diff --git a/54/3d222449e96b47eeacf09f0fbf49f9d57ce40a b/54/3d222449e96b47eeacf09f0fbf49f9d57ce40a new file mode 100644 index 000000000..39441989b --- /dev/null +++ b/54/3d222449e96b47eeacf09f0fbf49f9d57ce40a @@ -0,0 +1,144 @@ +Return-Path: <jgarzik@gmail.com> +Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org + [172.17.192.35]) + by mail.linuxfoundation.org (Postfix) with ESMTPS id 725B3DBD + for <bitcoin-dev@lists.linuxfoundation.org>; + Wed, 16 Dec 2015 21:27:17 +0000 (UTC) +X-Greylist: whitelisted by SQLgrey-1.7.6 +Received: from mail-ig0-f170.google.com (mail-ig0-f170.google.com + [209.85.213.170]) + by smtp1.linuxfoundation.org (Postfix) with ESMTPS id 293E4ED + for <bitcoin-dev@lists.linuxfoundation.org>; + Wed, 16 Dec 2015 21:27:16 +0000 (UTC) +Received: by mail-ig0-f170.google.com with SMTP id to18so67640269igc.0 + for <bitcoin-dev@lists.linuxfoundation.org>; + Wed, 16 Dec 2015 13:27:16 -0800 (PST) +DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=gmail.com; s=20120113; + h=mime-version:in-reply-to:references:date:message-id:subject:from:to + :cc:content-type; + bh=0euevp4whw9DjNyo7hjiQqj5jBohHELRfY7cxKOCxJY=; + b=mNHwkqn8J1t7Essaic+B+ZHMuceR7NfK2eIlXvcevSJbb1HB0T3tM+wVxnQiSQU88d + RkV6eS08aUs3zY0hLrwI6t2kz2OnkSK72dWYr8dOB7bgLvPZ8tCUWH/1UCfZk4Qvik5/ + 7hBhb81mLaquNh4fq3VDJlM1ScN2TCtYnZw5ksYoOeGY+RWBL9v3Rtvp2rbiuW8IKKos + MHY0B0zRU4vp8FxtBjhPDoCgO/gnJCnsW8npDJ1krvIyxbcfg5Kl2xdi6iwInfY9Aodk + zHv1upgnnCW+i3NAtAoxrMq4US+yI7Au+O7MrMn1uHC7vPEhZQekxe3pM2zhJWmMizoG + zS9g== +MIME-Version: 1.0 +X-Received: by 10.51.17.39 with SMTP id gb7mr13400509igd.54.1450301235691; + Wed, 16 Dec 2015 13:27:15 -0800 (PST) +Received: by 10.79.8.198 with HTTP; Wed, 16 Dec 2015 13:27:15 -0800 (PST) +In-Reply-To: <CAPg+sBhUso0ddfYQMgwF7yX9_VoqP9CZN5h45t3eQi4v3m6f6A@mail.gmail.com> +References: <CADm_WcYWh5EnBCzQQVc04sf-0seh2zrmc+5dH8Z-Bo78jhPnfA@mail.gmail.com> + <CAPg+sBhUso0ddfYQMgwF7yX9_VoqP9CZN5h45t3eQi4v3m6f6A@mail.gmail.com> +Date: Wed, 16 Dec 2015 16:27:15 -0500 +Message-ID: <CADm_WcYZq3nzfYMXfzkZsTCsgmzy4L_nYpa5Kax8uF_ajuUTiQ@mail.gmail.com> +From: Jeff Garzik <jgarzik@gmail.com> +To: Pieter Wuille <pieter.wuille@gmail.com> +Content-Type: multipart/alternative; boundary=001a1134b41ef8881205270a918f +X-Spam-Status: No, score=-2.7 required=5.0 tests=BAYES_00,DKIM_SIGNED, + DKIM_VALID,DKIM_VALID_AU,FREEMAIL_FROM,HTML_MESSAGE,RCVD_IN_DNSWL_LOW + autolearn=ham version=3.3.1 +X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on + smtp1.linux-foundation.org +Cc: Bitcoin development mailing list <bitcoin-dev@lists.linuxfoundation.org> +Subject: Re: [bitcoin-dev] Segregated Witness in the context of Scaling + Bitcoin +X-BeenThere: bitcoin-dev@lists.linuxfoundation.org +X-Mailman-Version: 2.1.12 +Precedence: list +List-Id: Bitcoin Development Discussion <bitcoin-dev.lists.linuxfoundation.org> +List-Unsubscribe: <https://lists.linuxfoundation.org/mailman/options/bitcoin-dev>, + <mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=unsubscribe> +List-Archive: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/> +List-Post: <mailto:bitcoin-dev@lists.linuxfoundation.org> +List-Help: <mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=help> +List-Subscribe: <https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev>, + <mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=subscribe> +X-List-Received-Date: Wed, 16 Dec 2015 21:27:17 -0000 + +--001a1134b41ef8881205270a918f +Content-Type: text/plain; charset=UTF-8 + +On Wed, Dec 16, 2015 at 3:59 PM, Pieter Wuille <pieter.wuille@gmail.com> +wrote: + +> On Wed, Dec 16, 2015 at 9:38 PM, Jeff Garzik via bitcoin-dev +> <bitcoin-dev@lists.linuxfoundation.org> wrote: +> > 4.3. Observations on new block economic model +> > +> > SW complicates block economics by creating two separate, supply limited +> > resources. +> +> Not correct. I propose defining the virtual_block_size as base_size + +> witness_size * 0.25, and limiting virtual_block_size to 1M. This +> creates a single variable to optimize for. If accepted, miners are +> incentived to maximize fee per virtual_block_size instead of per size. +> + +It is correct. There are two separate sets of economic actors and levels +of contention for each set of space. + +That is true regardless of the proposed miner selection algorithm. + + + +> > 5.4. Problem: More complex economic policy, new game theory, new +> bidding +> > structure risks. +> > +> > Splitting blocks into two pieces, each with separate and distinct +> behaviors +> > and resource values, creates two fee markets. +> +> I believe you have misunderstood the proposal in that case. +> + +See above. There are two separate and distinct resource velocities and +demand levels in reality. That creates two markets regardless of miner +selection algorithm in the block maker. + +--001a1134b41ef8881205270a918f +Content-Type: text/html; charset=UTF-8 +Content-Transfer-Encoding: quoted-printable + +<div dir=3D"ltr"><br><div class=3D"gmail_extra"><br><div class=3D"gmail_quo= +te">On Wed, Dec 16, 2015 at 3:59 PM, Pieter Wuille <span dir=3D"ltr"><<a= + href=3D"mailto:pieter.wuille@gmail.com" target=3D"_blank">pieter.wuille@gm= +ail.com</a>></span> wrote:<br><blockquote class=3D"gmail_quote" style=3D= +"margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><span class= +=3D"">On Wed, Dec 16, 2015 at 9:38 PM, Jeff Garzik via bitcoin-dev<br> +<<a href=3D"mailto:bitcoin-dev@lists.linuxfoundation.org">bitcoin-dev@li= +sts.linuxfoundation.org</a>> wrote:<br> +> 4.3.=C2=A0 Observations on new block economic model<br> +><br> +> SW complicates block economics by creating two separate, supply limite= +d<br> +> resources.<br> +<br> +</span>Not correct. I propose defining the virtual_block_size as base_size = ++<br> +witness_size * 0.25, and limiting virtual_block_size to 1M. This<br> +creates a single variable to optimize for. If accepted, miners are<br> +incentived to maximize fee per virtual_block_size instead of per size.<br><= +/blockquote><div><br></div><div>It is correct.=C2=A0 There are two separate= + sets of economic actors and levels of contention for each set of space. = +=C2=A0</div><div><br></div><div>That is true regardless of the proposed min= +er selection algorithm.</div><div><br></div><div>=C2=A0</div><blockquote cl= +ass=3D"gmail_quote" style=3D"margin:0 0 0 .8ex;border-left:1px #ccc solid;p= +adding-left:1ex"><span class=3D"">> 5.4.=C2=A0 Problem:=C2=A0 =C2=A0More= + complex economic policy, new game theory, new bidding<br> +> structure risks.<br> +><br> +> Splitting blocks into two pieces, each with separate and distinct beha= +viors<br> +> and resource values, creates two fee markets.<br> +<br> +</span>I believe you have misunderstood the proposal in that case.<br></blo= +ckquote><div><br></div><div>See above.=C2=A0 There are two separate and dis= +tinct resource velocities and demand levels in reality.=C2=A0 That creates = +two markets regardless of miner selection algorithm in the block maker.</di= +v><div><br></div><div></div></div></div><div class=3D"gmail_extra"><br></di= +v></div> + +--001a1134b41ef8881205270a918f-- + |