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From: Will <will.madden@novauri.com>
In-Reply-To: <CABsx9T3Rvgbc8WLnnH96nqK_TaAOj9gn-BBmRy_r2Ci0x72mZQ@mail.gmail.com>
Date: Fri, 26 Jun 2015 15:07:30 -0400
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To: Gavin Andresen <gavinandresen@gmail.com>
Cc: "bitcoin-dev@lists.linuxfoundation.org"
	<bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] Draft BIP : fixed-schedule block size increase
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Moving averages have upsides and downsides vs fixed growth.  Moving averages=
 are backwards looking and don't handle seasonalities or unanticipated incre=
ases in demand very well.

Think "Black Friday" or the horribly named "Cyber=20
Monday" in retail or market hysteria where millions of noobs jump into or ou=
t of bitcoin.

If you want to create fee pressure I think this can be done, but I would kee=
p both of these in mind before choosing a value for N.  Adjustments would ne=
ed to be frequent and nimble enough to handle seasonalities and other unanti=
cipated outliers.

> On Jun 26, 2015, at 1:39 PM, Gavin Andresen <gavinandresen@gmail.com> wrot=
e:
>=20
>> On Fri, Jun 26, 2015 at 11:13 AM, Will <will.madden@novauri.com> wrote:
>> Make the lazy miners' default choice grow at the hard cap growth rate and=
 you should be ok if you want voting.
>=20
> I think the default block size is an orthogonal issue to the max block siz=
e.
>=20
> HOWEVER: I think changing the default 'target' block size from the current=
, fixed 750K to the average of the size of the last N blocks would have some=
 nice properties. It is policy-neutral (we should get out of the business of=
 deciding the right block size and let the miners who care drive block size u=
p or down) and if there are a significant proportion of lazy miners going wi=
th defaults it gives the system a healthy "fee pressure."
>=20
> --=20
> --
> Gavin Andresen

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<html><head><meta http-equiv=3D"content-type" content=3D"text/html; charset=3D=
utf-8"></head><body dir=3D"auto"><div>Moving averages have upsides and downs=
ides vs fixed growth. &nbsp;Moving averages are backwards looking and don't h=
andle seasonalities or unanticipated increases in demand very well.</div><di=
v><br></div><div>Think "Black Friday" or the horribly named "Cyber&nbsp;</di=
v><div>Monday" in retail or market hysteria where millions of noobs jump int=
o or out of bitcoin.</div><div><br></div><div>If you want to create fee pres=
sure I think this can be done, but I would keep both of these in mind before=
 choosing a value for N. &nbsp;Adjustments would need to be frequent and nim=
ble enough to handle seasonalities and other unanticipated outliers.</div><d=
iv><br>On Jun 26, 2015, at 1:39 PM, Gavin Andresen &lt;<a href=3D"mailto:gav=
inandresen@gmail.com">gavinandresen@gmail.com</a>&gt; wrote:<br><br></div><b=
lockquote type=3D"cite"><div><div dir=3D"ltr"><div class=3D"gmail_extra"><di=
v class=3D"gmail_quote">On Fri, Jun 26, 2015 at 11:13 AM, Will <span dir=3D"=
ltr">&lt;<a href=3D"mailto:will.madden@novauri.com" target=3D"_blank">will.m=
adden@novauri.com</a>&gt;</span> wrote:<br><blockquote class=3D"gmail_quote"=
 style=3D"margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex">Mak=
e the lazy miners' default choice grow at the hard cap growth rate and you s=
hould be ok if you want voting.</blockquote></div><br>I think the default bl=
ock size is an orthogonal issue to the max block size.</div><div class=3D"gm=
ail_extra"><br></div><div class=3D"gmail_extra">HOWEVER: I think changing th=
e default 'target' block size from the current, fixed 750K to the average of=
 the size of the last N blocks would have some nice properties. It is policy=
-neutral (we should get out of the business of deciding the right block size=
 and let the miners who care drive block size up or down) and if there are a=
 significant proportion of lazy miners going with defaults it gives the syst=
em a healthy "fee pressure."</div><div class=3D"gmail_extra"><div><br></div>=
-- <br><div class=3D"gmail_signature">--<br>Gavin Andresen<br></div>
</div></div>
</div></blockquote></body></html>=

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