summaryrefslogtreecommitdiff
path: root/9b/1ef9e5207f21b26be055d378f5b0bded2e1a2e
blob: 2733501bfab99840b3620beec7321c918833c436 (plain)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
Return-Path: <peter_r@gmx.com>
Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org
	[172.17.192.35])
	by mail.linuxfoundation.org (Postfix) with ESMTPS id CBF68122A
	for <bitcoin-dev@lists.linuxfoundation.org>;
	Tue,  1 Sep 2015 08:06:38 +0000 (UTC)
X-Greylist: domain auto-whitelisted by SQLgrey-1.7.6
Received: from mout.gmx.net (mout.gmx.net [212.227.15.18])
	by smtp1.linuxfoundation.org (Postfix) with ESMTPS id 3ED1CA8
	for <bitcoin-dev@lists.linuxfoundation.org>;
	Tue,  1 Sep 2015 08:06:38 +0000 (UTC)
Received: from [192.168.50.29] ([69.50.179.106]) by mail.gmx.com (mrgmx001)
	with ESMTPSA (Nemesis) id 0MZkv0-1ZGepz1Nra-00LYDp;
	Tue, 01 Sep 2015 10:06:34 +0200
Content-Type: multipart/signed;
	boundary="Apple-Mail=_E98E1841-0E5B-4B92-BC9D-CFD0B16F58C6";
	protocol="application/pgp-signature"; micalg=pgp-sha512
Mime-Version: 1.0 (Mac OS X Mail 6.6 \(1510\))
From: Peter R <peter_r@gmx.com>
In-Reply-To: <20150901075613.GD17380@muck>
Date: Tue, 1 Sep 2015 01:06:30 -0700
Message-Id: <7E54183F-DDBD-4EFB-828B-841350A80E33@gmx.com>
References: <CAEgR2PE35K6kt1sZ0iDu2Y9vv+6+Omgg_n4n3gtMggYuE3YD-g@mail.gmail.com>
	<20150901075613.GD17380@muck>
To: Peter Todd <pete@petertodd.org>
X-Mailer: Apple Mail (2.1510)
X-Provags-ID: V03:K0:ONxQnHIONkP4diD1mIGJ46VmHlP1AVAPgjPq4Fjxe7H/TkPElbo
	sPWYVfU/ntTmGwqTY/QhDOCBKeXtbhxottOFS/cfOH+UVFaoSSg7SHTvRl7qVplQqncYXf7
	pCn+J8maxik3HDFvBfwNpeLuGoz9NYydvMWyaxieYXYCL7C9WuCKiPaL2Fh2UFphq5Hj8uT
	KnwrZmNyToTE2fM8Cvwog==
X-UI-Out-Filterresults: notjunk:1;V01:K0:vAq+Dr6IECU=:kbydSzoqhf768Te2x9i/lI
	6ZaUEySxboBniMAoKHBmC14OEDPGuW0DYo++s4vS1x4Fm6TYhdKZc/3TRVdCxWfrrz8fMRsVd
	KSOan9G49TgIFvMGcgY0IMVaIq6AO3Mzehdhm3OfUqxeFilGEgaCHANu+Bjo+u9ucQVy5Av9c
	cjs7udCNQgOeb7tJZaFgbPGKbf3fuyaodHg0JuXzUMr605goVzOBtQCaFkF8cMHLMvL2hOjpt
	4BGulzU73U9szzZ+XqS1j4GrBwtU10cIaF5FXCPpcNUFp+j7kFgp0xLMpdtsrH6o+4CIXJ/d9
	6YfU5nBH+vGmydLd73zLGr4oVckTkVsrBx21Gh6WOfVouahxX5wPuB7G2nQUdzXAqY33QYWkP
	5n1nzw57nRFkEyTE4YS58i2vL8CHd2tY7ql/fzDKm0FboGtVcTCaqhFR7jN1Voa9XLa+5/MQq
	IVr5AWe+Ck2v+KCNJL9LPQTzD5p0o6IrLqlWwG+KUqrshEC9CzNr16V5bZE29I7fgff+jmnny
	l8XVfTFYHGCVUKn/18yim2Bwi6nCtZ085+hn1CcfDQtNutNyPi2KrwgTzlBnMuL+Xmc2PWsGb
	w/fv357JahgMS8EIaQvLJHCBeIt1dfSX6hriUBLTF4hmU0PQL8BAmLzJOEO7oweDXwls+BXmZ
	/Oxl+IQSNrTT/fdkIvOXhbH4l6AhKBWk/tPOB/MpYbd5Qrk+tkLasmgVsnuNFau9Pwc/r/D8P
	J8R2crdqtYv8LdiL
X-Spam-Status: No, score=-2.6 required=5.0 tests=BAYES_00,FREEMAIL_FROM,
	HTML_MESSAGE,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: bitcoin-dev@lists.linuxfoundation.org,
	Daniele Pinna <daniele.pinna@gmail.com>
Subject: Re: [bitcoin-dev] ERRATA CORRIGE + Short Theorem
X-BeenThere: bitcoin-dev@lists.linuxfoundation.org
X-Mailman-Version: 2.1.12
Precedence: list
List-Id: Bitcoin Development Discussion <bitcoin-dev.lists.linuxfoundation.org>
List-Unsubscribe: <https://lists.linuxfoundation.org/mailman/options/bitcoin-dev>,
	<mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=unsubscribe>
List-Archive: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/>
List-Post: <mailto:bitcoin-dev@lists.linuxfoundation.org>
List-Help: <mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=help>
List-Subscribe: <https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev>,
	<mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=subscribe>
X-List-Received-Date: Tue, 01 Sep 2015 08:06:38 -0000


--Apple-Mail=_E98E1841-0E5B-4B92-BC9D-CFD0B16F58C6
Content-Type: multipart/alternative;
	boundary="Apple-Mail=_B6DC1B39-B335-44F4-B54D-40BF68824D39"


--Apple-Mail=_B6DC1B39-B335-44F4-B54D-40BF68824D39
Content-Transfer-Encoding: quoted-printable
Content-Type: text/plain;
	charset=us-ascii

On 2015-09-01, at 12:56 AM, Peter Todd via bitcoin-dev =
<bitcoin-dev@lists.linuxfoundation.org> wrote
>=20
> FWIW I did a quick math proof along those lines awhile back too using
> some basic first-year math, again proving that larger miners earn more
> money per unit hashing power:
>=20
> =
http://www.mail-archive.com/bitcoin-development@lists.sourceforge.net/msg0=
3272.html

I don't believe anyone is arguing otherwise.  Miners with a larger =
fraction of the network hash rate, h/H, have a theoretical advantage, =
all other variables in the miner's profitability equation held constant. =
=20

Dpinna originally claimed (unless I'm mistaken) that his paper showed =
that this advantage decreased as the block reward diminished or as the =
total fees increased.  This didn't seem unreasonable to me, although I =
never checked the math. =20

Best regards,
Peter


=20


--Apple-Mail=_B6DC1B39-B335-44F4-B54D-40BF68824D39
Content-Transfer-Encoding: quoted-printable
Content-Type: text/html;
	charset=us-ascii

<html><head><meta http-equiv=3D"Content-Type" content=3D"text/html =
charset=3Dus-ascii"></head><body style=3D"word-wrap: break-word; =
-webkit-nbsp-mode: space; -webkit-line-break: after-white-space; =
"><div><div>On 2015-09-01, at 12:56 AM, Peter Todd via bitcoin-dev =
&lt;<a =
href=3D"mailto:bitcoin-dev@lists.linuxfoundation.org">bitcoin-dev@lists.li=
nuxfoundation.org</a>&gt; wrote</div><blockquote type=3D"cite"><br>FWIW =
I did a quick math proof along those lines awhile back too using<br>some =
basic first-year math, again proving that larger miners earn =
more<br>money per unit hashing power:<br><br><a =
href=3D"http://www.mail-archive.com/bitcoin-development@lists.sourceforge.=
net/msg03272.html">http://www.mail-archive.com/bitcoin-development@lists.s=
ourceforge.net/msg03272.html</a><br></blockquote><br></div><div>I don't =
believe anyone is arguing otherwise. &nbsp;Miners with a larger fraction =
of the network hash rate, <i>h</i>/<i>H</i>, have a theoretical =
advantage, all other variables in the miner's profitability equation =
held constant. &nbsp;</div><div><br></div><div>Dpinna originally claimed =
(unless I'm mistaken) that his paper showed that this advantage =
<i>decreased</i> as the block reward diminished or as the total fees =
increased. &nbsp;This didn't seem unreasonable to me, although I never =
checked the math. &nbsp;</div><div><br></div><div>Best =
regards,</div><div>Peter</div><div><br></div><div><br></div><div>&nbsp;</d=
iv><br></body></html>=

--Apple-Mail=_B6DC1B39-B335-44F4-B54D-40BF68824D39--

--Apple-Mail=_E98E1841-0E5B-4B92-BC9D-CFD0B16F58C6
Content-Transfer-Encoding: 7bit
Content-Disposition: attachment;
	filename=signature.asc
Content-Type: application/pgp-signature;
	name=signature.asc
Content-Description: Message signed with OpenPGP using GPGMail

-----BEGIN PGP SIGNATURE-----
Comment: GPGTools - https://gpgtools.org

iQEcBAEBCgAGBQJV5VyHAAoJEORK3dmodztxy4cH/3zf/ltOXU6ZcD0ncllw3bOj
FmWO364dnXBk6nPd2A46KtEA5TOUmEVJ+y7GIx+H7B1oWeggCBWAhr5etl/CMNLk
9Qh+Dwa7W77sIPc8knfi/fAY5TZC2jls6TsfzxP3PnNDeNDnnmhKjlQRklUbA+i/
DuyuF03yimjBJZYruQQ2H3g32JfNt638utVNB/hFWBPBs6JPEegLNP3IGdJVQ0EJ
UQAQ1OOHDGBy2MnjB2VfbyBVxTkbSpSrhJVhsxymgWstB3mHOtI48DDKiu87GP74
Tx6ThvZBr56kOMlK542svoV6uZ9arOfcHX5p9OMiK0FNt0aUaru4ulyFXQcQW5Q=
=cGBG
-----END PGP SIGNATURE-----

--Apple-Mail=_E98E1841-0E5B-4B92-BC9D-CFD0B16F58C6--