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Subject: Re: [Bitcoin-development] User vote in blocksize through fees
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Jeff,
with all due respect, but I've seen you saying this a few times
now, that this decision is oh so difficult and important.
But this is not helpful. We all know that. Even I.
Make a suggestion, or stay out of the debate!
Mats
On 06/14/2015 07:36 AM, Jeff Garzik wrote:
> The choice is very real and on-point. What should the block size limit
> be? Why?
>=20
> There is a large consensus that it needs increasing. To what? By what
> factor?
>=20
> The size limit literally defines the fee market, the whole damn thing. =
If
> software high priests choose a size limit of 300k, space is scarce, fee=
s
> are bid high. If software high priests choose a size limit of 32mb, sp=
ace
> is plentiful, fees are near zero. Market actors take their signals
> accordingly. Some business models boom, some business models fail, as =
a
> direct result of changing this unintentionally-added speedbump. Differ=
ent
> users value adoption, decentralization etc. differently.
>=20
> The size limit is an economic policy lever that needs to be transitione=
d
> -away- from software and software developers, to the free market.
>=20
> A simple, e.g. hard fork to 2MB or 4MB does not fix higher level govern=
ance
> problems associated with actors lobbying developers, even if a cloister=
ed
> and vetted Technical Advisory Board as has been proposed.
>=20
>=20
>=20
>=20
>=20
>=20
>=20
> On Sun, Jun 14, 2015 at 1:20 AM, Eric Lombrozo <elombrozo@gmail.com> wr=
ote:
>=20
>> I definitely think we need some voting system for metaconsensus=85but =
if
>> we=92re going to seriously consider this we should look at the problem=
much
>> more generally. Using false choices doesn=92t really help, though ;)
>>
>> - Eric Lombrozo
>>
>>
>> On Jun 13, 2015, at 10:13 PM, Jeff Garzik <jgarzik@bitpay.com> wrote:
>>
>> On Sun, Jun 14, 2015 at 1:08 AM, Eric Lombrozo <elombrozo@gmail.com>
>> wrote:
>>
>>> 2) BIP100 has direct economic consequences=85and particularly for min=
ers.
>>> It lends itself to much greater corruptibility.
>>>
>>>
>> What is the alternative? Have a Chief Scientist or Technical Advisory
>> Board choose what is a proper fee, what is a proper level of
>> decentralization, a proper growth factor?
>>
>>
>>
>=20
>=20
>=20
>=20
> -----------------------------------------------------------------------=
-------
>=20
>=20
>=20
> _______________________________________________
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> Bitcoin-development@lists.sourceforge.net
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>=20
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