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From: Tao Effect <contact@taoeffect.com>
In-Reply-To: <CAAcC9yuJY3Lsd7Z0rx8TFLNT1fJLhrpxzKJREQ7FmdNNjdXJow@mail.gmail.com>
Date: Mon, 8 Feb 2016 18:45:47 -0800
Message-Id: <0034586B-0885-415D-9423-95B888B01106@taoeffect.com>
References: <56B8EBF8.4050602@mattcorallo.com>
	<236601d162b0$8da286e0$a8e794a0$@xbt.hk>
	<28C17F9B-AD69-4962-8C8F-0D983FA917ED@taoeffect.com>
	<CAAcC9yuJY3Lsd7Z0rx8TFLNT1fJLhrpxzKJREQ7FmdNNjdXJow@mail.gmail.com>
To: Chris Priest <cp368202@ohiou.edu>
Cc: bitcoin-dev@lists.linuxfoundation.org
Subject: Re: [bitcoin-dev] On Hardforks in the Context of SegWit
Precedence: list


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Look, if we=E2=80=99re going to declare something an emergency, we =
cannot on the one hand say things like: "I strongly believe bitcoin has =
no place in the world if the fee raise much higher than a few cents per =
typically-sized transaction=E2=80=9D, and on the other declare that =
there is an emergency worth redefining what *Bitcoin is* because the =
average txn fee is on the order of 7 cents [1] and has remained =
reasonable for some time [2].

If you=E2=80=99d like to understand what a qualifying emergency looks =
like, read the links:

> =
http://bitledger.info/why-a-hard-fork-should-be-fought-and-its-not-evil-to=
-discuss/
>=20
> And here:
>=20
> =
http://bitledger.info/hard-fork-risks-and-why-95-should-be-the-standard/


In terms of scaling, we are nowhere close to an emergency.

Scaling is priority #4, maybe, and it=E2=80=99s being taken care of.

Meanwhile, we should be directing our attention one the more pressing =
and serious concerns like mining centralization & privacy.

Mining centralization is a serious issue. It is *not cool* that 4 dudes =
(and 1 government) have the power to redefine what Bitcoin is *right =
now*.

Relevant post with suggestions for fixing that:

=
https://www.reddit.com/r/Bitcoin/comments/44kwf0/the_hardfork_that_bitcoin=
_really_needs_not/czrh3na

As far as I can tell, P2Pool & GBT are not the same thing, but I=E2=80=99v=
e been told that P2Pool might use GBT in some way, even though it=E2=80=99=
s listed on the wiki as not using it. [3]

A hard fork would ideally enforce decentralized mining pools somehow so =
that transaction selection is done at the edges instead of the center.

Cheers,
Greg

[1] http://www.cointape.com/
[2] https://blockchain.info/charts/transaction-fees
[3] https://en.bitcoin.it/wiki/Comparison_of_mining_pools

> On Feb 8, 2016, at 4:54 PM, Chris Priest <cp368202@ohiou.edu> wrote:
>=20
>> Also, if you=E2=80=99re going to do a hard fork, you=E2=80=99d better =
make the most of it as hard forks must be a *rare* =
world-is-ending-if-we-don=E2=80=99t-do-it thing
>=20
> In my opinion, the network publishing more than 1MB worth of
> transactions while the limit is still 1MB *is* an emergency worthy of
> a hard fork.
>=20
> If that's not an emergency, then what is?
>=20
> I strongly believe bitcoin has no place in the world if the fee raise
> much higher than a few cents per typically-sized transaction.
>=20
> On 2/8/16, Tao Effect via bitcoin-dev
> <bitcoin-dev@lists.linuxfoundation.org> wrote:
>> Hard forks should always come in response to some major crisis that =
all
>> participants can agree is an actual crisis, as per the excellent =
rational
>> here:
>>=20
>> =
http://bitledger.info/why-a-hard-fork-should-be-fought-and-its-not-evil-to=
-discuss/
>>=20
>> And here:
>>=20
>> =
http://bitledger.info/hard-fork-risks-and-why-95-should-be-the-standard/
>>=20
>> Also, if you=E2=80=99re going to do a hard fork, you=E2=80=99d better =
make the most of it as
>> hard forks must be a *rare* world-is-ending-if-we-don=E2=80=99t-do-it =
thing
>> (otherwise Bitcoin cannot be considered decentralized in any sense of =
the
>> word).
>>=20
>> So for any sort of hard fork, be sure to address the real threats and
>> challenges that are facing Bitcoin today:
>>=20
>> 1. Mining centralization.
>> 2. Privacy.
>>=20
>> Best regards,
>> Greg Slepak
>>=20


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