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Date: Thu, 17 Dec 2015 13:27:13 -0500
Message-ID: <CADm_WcbiLCU3yuSfWEJbLDWhfc-9kYFJFCo+fRYyENAsvParng@mail.gmail.com>
From: Jeff Garzik <jgarzik@gmail.com>
To: Pieter Wuille <pieter.wuille@gmail.com>
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Subject: Re: [bitcoin-dev] Segregated Witness in the context of Scaling
Bitcoin
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--089e01176343edf66a05271c2b2c
Content-Type: text/plain; charset=UTF-8
On Wed, Dec 16, 2015 at 5:09 PM, Jeff Garzik <jgarzik@gmail.com> wrote:
> SW presents a blended price and blended basket of two goods. You can
> interact with the Service through the blended price, but that does not
> erase the fact that the basket contains two separate from similar resources.
>
> A different set of economic actors uses one resource, and/or both. There
> are explicit incentives to shift actors from solely using one resource to
> using both.
>
Illustration: If SW is deployed via soft fork, the count of nodes that
validate witness data is significantly lower than the count of nodes that
validate non-witness data. Soft forks are not trustless operation, they
depend on miner trust, slowly eroding the trustless validation of older
nodes over time.
Higher security in one data area versus another produces another economic
value distinction between the two goods in the basket, and creates a "pay
more for higher security in core block, pay less for lower security in
witness" dynamic.
This economic distinction is not present if SW is deployed via hard fork.
--089e01176343edf66a05271c2b2c
Content-Type: text/html; charset=UTF-8
Content-Transfer-Encoding: quoted-printable
<div dir=3D"ltr">On Wed, Dec 16, 2015 at 5:09 PM, Jeff Garzik <span dir=3D"=
ltr"><<a href=3D"mailto:jgarzik@gmail.com" target=3D"_blank">jgarzik@gma=
il.com</a>></span> wrote:<br><div class=3D"gmail_extra"><div class=3D"gm=
ail_quote"><blockquote class=3D"gmail_quote" style=3D"margin:0 0 0 .8ex;bor=
der-left:1px #ccc solid;padding-left:1ex"><div dir=3D"ltr"><div>SW presents=
a blended price and blended basket of two goods.=C2=A0 You can interact wi=
th the Service through the blended price, but that does not erase the fact =
that the basket contains two separate from similar resources.</div><div><br=
></div><div>A different set of economic actors uses one resource, and/or bo=
th.=C2=A0 There are explicit incentives to shift actors from solely using o=
ne resource to using both.</div><div></div></div></blockquote></div><br></d=
iv><div class=3D"gmail_extra">Illustration: =C2=A0If SW is deployed via sof=
t fork, the count of nodes that validate witness data is significantly lowe=
r than the count of nodes that validate non-witness data.=C2=A0 Soft forks =
are not trustless operation, they depend on miner trust, slowly eroding the=
trustless validation of older nodes over time.</div><div class=3D"gmail_ex=
tra"><br></div><div class=3D"gmail_extra">Higher security in one data area =
versus another produces another economic value distinction between the two =
goods in the basket, and creates a "pay more for higher security in co=
re block, pay less for lower security in witness" dynamic.</div><div c=
lass=3D"gmail_extra"><br></div><div class=3D"gmail_extra">This economic dis=
tinction is not present if SW is deployed via hard fork.</div><div class=3D=
"gmail_extra"><br></div><div class=3D"gmail_extra"><br></div><div class=3D"=
gmail_extra"><br></div><div class=3D"gmail_extra"><br></div><div class=3D"g=
mail_extra"><br></div></div>
--089e01176343edf66a05271c2b2c--
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