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Date: Mon, 6 Oct 2014 13:02:13 +0200
Message-ID: <CANEZrP2_9tRGpZ4gySHvohy0g2PsaQF9u+-tZ-bmn8JtgweihA@mail.gmail.com>
From: Mike Hearn <mike@plan99.net>
To: Gregory Maxwell <gmaxwell@gmail.com>
Content-Type: multipart/alternative; boundary=e89a8f83a13fe1c9d70504bf035f
Cc: Bitcoin Development <bitcoin-development@lists.sourceforge.net>
Subject: Re: [Bitcoin-development] The Bitcoin Freeze on Transaction Attack
	(FRONT)
Precedence: list

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>
> 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.

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<div dir=3D"ltr"><div class=3D"gmail_extra"><div class=3D"gmail_quote"><blo=
ckquote class=3D"gmail_quote" style=3D"margin:0 0 0 .8ex;border-left:1px #c=
cc solid;padding-left:1ex">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. :)</blockquote><div><br></div><div>I&#39;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.</div><div><br></di=
v><div>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&#3=
9;t make transactions that will lose the competition game, and instant dema=
nd would only ever be roughly equal to supply.</div></div></div></div>

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