MIME-Version: 1.0
Date: Tue, 8 Sep 2015 17:45:16 +1000
Message-ID: <CAG0bcYzzg4yeQvd27PZu5Fqv1ULS3cKeQHaRZ2zPcM3OASw1cg@mail.gmail.com>
From: Washington Sanchez <washington.sanchez@gmail.com>
To: bitcoin-dev@lists.linuxfoundation.org
Content-Type: multipart/alternative; boundary=047d7bea3d28003a43051f378cb4
Subject: [bitcoin-dev] Dynamic limit to the block size - BIP draft discussion
Precedence: list

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Hi everyone,

I know many of us feel that the last thing the Bitcoin community needs is
another BIP related to the block size, but after a lot of reading and
commenting, I'd like to throw this idea out there.

I've already written it up as a BIP and would like some constructive
feedback/suggestions/alternatives related to some of the variables in my
specification:


Dynamic limit to the block size
=======================

The goal is to dynamically increase the maximum block size conservatively,
but allow meaningful relief to transaction volume pressure in response to
true market demand. The specification follows:

- Every 4032 blocks (~4 weeks), the maximum block size will be increased by
10% *IF* a minimum of 2000 blocks has a size >= 60% of the maximum block
size at that time
  + This calculates to theoretically 13 increases per year
- The maximum block size can only ever be increased, not decreased

For example, if this rule were to be instituted January 1st 2016, with a
present maximum block size 1 MB, the limit would be increased to 1.1 MB on
January 29th 2016. The theoretical maximum block size at the end of 2016
would be ~3.45 MB, assuming all 13 increases are triggered.

As the maximum block size rises, so the cost of artificially triggering an
increase in the maximum block size.


Regards,
Wash


-------------------------------------------
*Dr Washington Y. Sanchez <http://onename.com/drwasho>*
Co-founder, OB1 <http://ob1.io>
Core developer of OpenBazaar <https://openbazaar.org>
@drwasho <https://twitter.com/drwasho>

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<div dir=3D"ltr">Hi everyone,<div><br></div><div>I know many of us feel tha=
t the last thing the Bitcoin community needs is another BIP related to the =
block size, but after a lot of reading and commenting, I&#39;d like to thro=
w this idea out there.=C2=A0</div><div><br></div><div>I&#39;ve already writ=
ten it up as a BIP and would like some constructive feedback/suggestions/al=
ternatives related to some of the variables in my specification:</div><div>=
<br></div><div><br></div><div>Dynamic limit to the block size</div><div>=3D=
=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D</div><di=
v><br></div><div>The goal is to dynamically increase the maximum block size=
 conservatively, but allow meaningful relief to transaction volume pressure=
 in response to true market demand. The specification follows:</div><div><b=
r></div><div><div>- Every 4032 blocks (~4 weeks), the maximum block size wi=
ll be increased by 10% *IF* a minimum of 2000 blocks has a size &gt;=3D 60%=
 of the maximum block size at that time</div><div>=C2=A0 + This calculates =
to theoretically 13 increases per year=C2=A0</div><div>- The maximum block =
size can only ever be increased, not decreased</div><div>=C2=A0</div><div>F=
or example, if this rule were to be instituted January 1st 2016, with a pre=
sent maximum block size 1 MB, the limit would be increased to 1.1 MB on Jan=
uary 29th 2016. The theoretical maximum block size at the end of 2016 would=
 be ~3.45 MB, assuming all 13 increases are triggered.</div><div><br></div>=
<div>As the maximum block size rises, so the cost of artificially triggerin=
g an increase in the maximum block size.</div><div><br></div><div><br></div=
><div>Regards,</div><div>Wash</div><div><br></div><br><div class=3D"gmail_s=
ignature"><div dir=3D"ltr"><div><div dir=3D"ltr"><div><div>----------------=
---------------------------</div><div><b><a href=3D"http://onename.com/drwa=
sho" target=3D"_blank">Dr Washington Y. Sanchez</a></b></div><div>Co-founde=
r, <a href=3D"http://ob1.io" target=3D"_blank">OB1</a></div><div>Core devel=
oper of <a href=3D"https://openbazaar.org" target=3D"_blank">OpenBazaar</a>=
</div><div><a href=3D"https://twitter.com/drwasho" target=3D"_blank">@drwas=
ho</a></div></div><div><br></div></div></div></div></div>
</div></div>

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