Received: from sog-mx-2.v43.ch3.sourceforge.com ([172.29.43.192] helo=mx.sourceforge.net) by sfs-ml-3.v29.ch3.sourceforge.com with esmtp (Exim 4.76) (envelope-from ) id 1Xb63Y-00018b-E8 for bitcoin-development@lists.sourceforge.net; Mon, 06 Oct 2014 11:02:20 +0000 Received-SPF: pass (sog-mx-2.v43.ch3.sourceforge.com: domain of gmail.com designates 209.85.218.45 as permitted sender) client-ip=209.85.218.45; envelope-from=mh.in.england@gmail.com; helo=mail-oi0-f45.google.com; Received: from mail-oi0-f45.google.com ([209.85.218.45]) by sog-mx-2.v43.ch3.sourceforge.com with esmtps (TLSv1:RC4-SHA:128) (Exim 4.76) id 1Xb63X-0005nm-EZ for bitcoin-development@lists.sourceforge.net; Mon, 06 Oct 2014 11:02:20 +0000 Received: by mail-oi0-f45.google.com with SMTP id i138so3420663oig.32 for ; Mon, 06 Oct 2014 04:02:14 -0700 (PDT) MIME-Version: 1.0 X-Received: by 10.182.20.146 with SMTP id n18mr26446884obe.26.1412593333945; Mon, 06 Oct 2014 04:02:13 -0700 (PDT) Sender: mh.in.england@gmail.com Received: by 10.76.86.105 with HTTP; Mon, 6 Oct 2014 04:02:13 -0700 (PDT) In-Reply-To: References: <5431CD8D.7050508@certimix.com> Date: Mon, 6 Oct 2014 13:02:13 +0200 X-Google-Sender-Auth: AXIMu4hwA5LoHoqp19eZ2ADSFqg Message-ID: From: Mike Hearn To: Gregory Maxwell Content-Type: multipart/alternative; boundary=e89a8f83a13fe1c9d70504bf035f X-Spam-Score: -0.5 (/) X-Spam-Report: Spam Filtering performed by mx.sourceforge.net. See http://spamassassin.org/tag/ for more details. -1.5 SPF_CHECK_PASS SPF reports sender host as permitted sender for sender-domain 0.0 FREEMAIL_FROM Sender email is commonly abused enduser mail provider (mh.in.england[at]gmail.com) -0.0 SPF_PASS SPF: sender matches SPF record 1.0 HTML_MESSAGE BODY: HTML included in message 0.1 DKIM_SIGNED Message has a DKIM or DK signature, not necessarily valid -0.1 DKIM_VALID Message has at least one valid DKIM or DK signature X-Headers-End: 1Xb63X-0005nm-EZ Cc: Bitcoin Development Subject: Re: [Bitcoin-development] The Bitcoin Freeze on Transaction Attack (FRONT) X-BeenThere: bitcoin-development@lists.sourceforge.net X-Mailman-Version: 2.1.9 Precedence: list List-Id: List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Mon, 06 Oct 2014 11:02:20 -0000 --e89a8f83a13fe1c9d70504bf035f Content-Type: text/plain; charset=UTF-8 > > the block size being lower than the instant offered demand (there is > always a backlog) are both things which address the concern of this thread. > :) I'm skeptical such a situation can ever be stable. People have no incentive to create a transaction that will remain stuck in the backlog forever, regardless of the effect it may have on the rest of the system. If someone invents a business model in which lots of payments are made, with fees, but that only clear probabilistically, perhaps such a situation could occur. But otherwise I think we have to assume that people won't make transactions that will lose the competition game, and instant demand would only ever be roughly equal to supply. --e89a8f83a13fe1c9d70504bf035f Content-Type: text/html; charset=UTF-8 Content-Transfer-Encoding: quoted-printable
the block size being lower than the=C2=A0instant= offered demand (there is always a backlog) are both things=C2=A0which addr= ess the concern of this thread. :)

I'm = skeptical such a situation can ever be stable. People have no incentive to = create a transaction that will remain stuck in the backlog forever, regardl= ess of the effect it may have on the rest of the system.

If someone invents a business model in which lots of payments are ma= de, with fees, but that only clear probabilistically, perhaps such a situat= ion could occur. But otherwise I think we have to assume that people won= 9;t make transactions that will lose the competition game, and instant dema= nd would only ever be roughly equal to supply.
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