Return-Path: Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org [172.17.192.35]) by mail.linuxfoundation.org (Postfix) with ESMTPS id 0FFDE273 for ; Sat, 8 Aug 2015 15:11:03 +0000 (UTC) X-Greylist: from auto-whitelisted by SQLgrey-1.7.6 Received: from outmail149077.authsmtp.com (outmail149077.authsmtp.com [62.13.149.77]) by smtp1.linuxfoundation.org (Postfix) with ESMTP id 7AF67F2 for ; Sat, 8 Aug 2015 15:11:02 +0000 (UTC) Received: from mail-c237.authsmtp.com (mail-c237.authsmtp.com [62.13.128.237]) by punt15.authsmtp.com (8.14.2/8.14.2/) with ESMTP id t78FB0ue089607; Sat, 8 Aug 2015 16:11:00 +0100 (BST) Received: from [25.109.202.243] ([24.114.75.94]) (authenticated bits=0) by mail.authsmtp.com (8.14.2/8.14.2/) with ESMTP id t78FAvFl047662 (version=TLSv1/SSLv3 cipher=DHE-RSA-AES256-SHA bits=256 verify=NO); Sat, 8 Aug 2015 16:10:58 +0100 (BST) In-Reply-To: References: <3D142DE7-C785-46FB-A2D0-3DEF16892C64@petertodd.org> MIME-Version: 1.0 Content-Transfer-Encoding: 8bit Content-Type: text/plain; charset=UTF-8 From: Peter Todd Date: Sat, 08 Aug 2015 15:10:54 +0000 To: Hector Chu Message-ID: X-Server-Quench: ad0953c8-3ddf-11e5-9f75-002590a135d3 X-AuthReport-Spam: If SPAM / abuse - report it at: http://www.authsmtp.com/abuse X-AuthRoute: OCd2Yg0TA1ZNQRgX IjsJECJaVQIpKltL GxAVKBZePFsRUQkR aAdMdgoUGUATAgsB AmMbWlJeUV17XGo7 aQ5PbARZfE1LQQxu T0xPR01TWkFvCWpw QGhCUh11cQNENnt3 Y0YsDyRbVUF5Jk5g QRoAQ3AHZDJldWlJ V0VFdwNWdQpKLx5G bwR8GhFYa3VsNCMk FAgyOXU9MCtqYBpS XgALIhoYUA4PGTU/ RhYNVT4oHEseLwAA X-Authentic-SMTP: 61633532353630.1024:706 X-AuthFastPath: 0 (Was 255) X-AuthSMTP-Origin: 24.114.75.94/465 X-AuthVirus-Status: No virus detected - but ensure you scan with your own anti-virus system. X-Spam-Status: No, score=-2.6 required=5.0 tests=BAYES_00,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: Hector Chu via bitcoin-dev Subject: Re: [bitcoin-dev] Voting by locking coins 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: Sat, 08 Aug 2015 15:11:03 -0000 -----BEGIN PGP SIGNED MESSAGE----- Hash: SHA256 On 8 August 2015 11:03:04 GMT-04:00, Hector Chu wrote: >Thanks for this Peter. It is quite long winded and complicated so I >just >wanted to clarify one particular point. In John's proposal, are the >coins >actually locked up, or are they still freely spendable post-vote? >Otherwise >there is no real cost to casting votes. Locking coins up is related to >the >time-value of money and has a cost the longer they are locked up for. John Dillon's proposal is essentially to have the economic majority give miners *permission* to raise the blocksize; making the vote costly is against the design intent of accurately capturing the broadest possible economic consensus. -----BEGIN PGP SIGNATURE----- iQE9BAEBCAAnIBxQZXRlciBUb2RkIDxwZXRlQHBldGVydG9kZC5vcmc+BQJVxhvv AAoJEMCF8hzn9Lnc47AH/1/4QjqSS2yYndM5evkl4h9ZJDxpeq++21pDprKn1HSu a5+0M8bcM1Jlk5+GSFqDLl920yQXTPZ5AOvJ9F6085/g2heGEg2iHP/iJsOGK6xe VWF/yR8sFYEe41BXP9r/la/AUFPcQWFUBqZgPqDBCqr87k2Hn5d3t0VITNwNHCge VJKlESGyyg3nMxfrvQq1YspKBkhTpIFMz1aw0CUh3kVOpmW2luFcA7SQzOWfBgDd 3ZExFhcn/5GcK3GudRsvcPNSIZQzeZcX2uQHCzQa7kvPdlZ1XntkE2ojy31Zq0nv Pj+CDBeKYtr4R0ZEn2bKhq39C3+1SZa5XkuCHAanBbQ= =vp56 -----END PGP SIGNATURE-----