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authorPeter Todd <pete@petertodd.org>2015-05-09 14:30:31 -0400
committerbitcoindev <bitcoindev@gnusha.org>2015-05-09 18:30:45 +0000
commitf3d051b5dea7547e982b15fa686cc9c02d9312fa (patch)
tree81d6518a0502460a1a327b3e43a070c10491cfc3
parenta986ad73c2f7dfdc2cb995627269e215cf925647 (diff)
downloadpi-bitcoindev-f3d051b5dea7547e982b15fa686cc9c02d9312fa.tar.gz
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Re: [Bitcoin-development] Proposed alternatives to the 20MB step function
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+ Sat, 9 May 2015 19:30:34 +0100 (BST)
+Date: Sat, 9 May 2015 14:30:31 -0400
+From: Peter Todd <pete@petertodd.org>
+To: Joel Joonatan Kaartinen <joel.kaartinen@gmail.com>
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+Cc: Bitcoin Development <bitcoin-development@lists.sourceforge.net>
+Subject: Re: [Bitcoin-development] Proposed alternatives to the 20MB step
+ function
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+On Sat, May 09, 2015 at 01:36:56AM +0300, Joel Joonatan Kaartinen wrote:
+> such a contract is a possibility, but why would big owners give an
+> exclusive right to such pools? It seems to me it'd make sense to offer
+> those for any miner as long as the get paid a little for it. Especially
+> when it's as simple as offering an incomplete transaction with the
+> appropriate SIGHASH flags.
+
+Like many things, the fact that they need to negotiate the right at all
+is a *huge* barrier to smaller mining operations, as well as being an
+attractive point of control for regulators.
+
+> a part of the reason I like this idea is because it will allow stakeholde=
+rs
+> a degree of influence on how large the fees are. At least from the surfac=
+e,
+> it looks like incentives are pretty well matched. They have an incentive =
+to
+> not let the fees drop too low so the network continues to be usable and
+> they also have an incentive to not raise them too high because it'll push
+> users into using other systems. Also, there'll be competition between
+> stakeholders, which should keep the fees reasonable.
+
+If you want to allow stakeholders influence you should look into John Dillo=
+n's
+proof-of-stake blocksize voting scheme:
+
+http://www.mail-archive.com/bitcoin-development@lists.sourceforge.net/msg02=
+323.html
+
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