Return-Path: Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org [172.17.192.35]) by mail.linuxfoundation.org (Postfix) with ESMTPS id 03731117D for ; Thu, 3 Sep 2015 04:05:14 +0000 (UTC) X-Greylist: whitelisted by SQLgrey-1.7.6 Received: from mail-wi0-f172.google.com (mail-wi0-f172.google.com [209.85.212.172]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id 7AD6213D for ; Thu, 3 Sep 2015 04:05:13 +0000 (UTC) Received: by wibz8 with SMTP id z8so84827495wib.1 for ; Wed, 02 Sep 2015 21:05:12 -0700 (PDT) DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=gmail.com; s=20120113; h=mime-version:date:message-id:subject:from:to:content-type; bh=+gpsOxr3skKJBlTavoZH6YVNVzOXMcdHSGQkqmEajaU=; b=BfPLnu7VYW/bLYiLYAXyCfnYx4EA3//E6aEXHnUIRKbrTQ3R7/PZVYoEAtllI4ClBD d4p+qf22pfNKiZUZgkqomzvewnv5PYXEa8CJ0DZzvXolGd3ZnI+07iWGUAog4RNsD8x1 SX3uoSBrJXqgGCCOfiMU9FjtJIKGOsdLCUKVYi2UtIEv42VSkIXHuMuiBZxMz4uFhfhG 8F67cJbb4AK0vUsqAwYloUjQH+P7CaxOn35EJ3OGbIQW7K1+d2P6O2MEy6AX2c5NJT2s 6KUUMJaSymVs/sYWaCKwQtT1sB9Z5MfdJfcY8jZ4W6MQ8bwZdOGuXp8bC1AUwGtfKkLI apUA== MIME-Version: 1.0 X-Received: by 10.180.92.138 with SMTP id cm10mr10011683wib.33.1441253112028; Wed, 02 Sep 2015 21:05:12 -0700 (PDT) Received: by 10.28.15.11 with HTTP; Wed, 2 Sep 2015 21:05:11 -0700 (PDT) Date: Thu, 3 Sep 2015 00:05:11 -0400 Message-ID: From: Jeff Garzik To: Bitcoin development mailing list Content-Type: multipart/alternative; boundary=f46d043be24ec622e6051ecfe3b9 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 Subject: [bitcoin-dev] block size - pay with difficulty X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Development Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Thu, 03 Sep 2015 04:05:14 -0000 --f46d043be24ec622e6051ecfe3b9 Content-Type: text/plain; charset=UTF-8 Schemes proposing to pay with difficulty / hashpower to change block size should be avoided. The miners incentive has always been fairly straightforward - it is rational to deploy new hashpower as soon as you can get it online. Introducing the concepts of (a) requiring out-of-band collusion to change block size and/or (b) requiring miners to have idle hashpower on hand to change block size are both unrealistic and potentially corrosive. That potentially makes the block size - and therefore fee market - too close, too sensitive to the wild vagaries of the mining chip market. Pay-to-future-miner has neutral, forward looking incentives worth researching. --f46d043be24ec622e6051ecfe3b9 Content-Type: text/html; charset=UTF-8 Content-Transfer-Encoding: quoted-printable

Schemes proposing to pay with difficulty / hashpower to ch= ange block size should be avoided.=C2=A0 The miners incentive has always be= en fairly straightforward - it is rational to deploy new hashpower as soon = as you can get it online.=C2=A0 Introducing the concepts of (a) requiring o= ut-of-band collusion to change block size and/or (b) requiring miners to ha= ve idle hashpower on hand to change block size are both unrealistic and pot= entially corrosive.=C2=A0 That potentially makes the block size - and there= fore fee market - too close, too sensitive to the wild vagaries of the mini= ng chip market.

Pay-to-future-miner has neutral, forward= looking incentives worth researching.

<= /div> --f46d043be24ec622e6051ecfe3b9--