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Date: Fri, 28 Feb 2014 04:42:14 -1000
Message-ID: <CAEz79Po37XkoQ=+kQOTdagVn-vYuqYwotQf58YcgTndaaAmXNw@mail.gmail.com>
From: "Warren Togami Jr." <wtogami@gmail.com>
To: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
Content-Type: multipart/alternative; boundary=047d7bfeafd49b2f4504f37871de
Subject: Re: [Bitcoin-development] On OP_RETURN in upcoming 0.9 release
Precedence: list

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On Thu, Feb 27, 2014 at 7:25 PM, Troy Benjegerdes <hozer@hozed.org> wrote:

>
> Either the transaction fees are sufficient to pay the cost for whatever
> random junk anyone wants to put there, or they are not, and if they are
> not, then I suggest you re-think the fee structure rather than trying
> to pre-regulate me putting 80 character pithy quotes in the blockhain.
>
>
https://github.com/litecoin-project/litecoin/commit/db4d8e21d99551bef4c807aa1534a074e4b7964d

In one way in particular, the transaction fees per kilobyte completely
failed to account for the actual cost to the network.  If Bitcoin had
adopted a common-sense rule like this, I would have had no reason to join
Litecoin development last year.  This is one of the few economic design
flaws that Satoshi overlooked in the original design.

As much as I personally hate the idea of data storage in the blockchain,
this at least discourages the creation of permanent UTXO.

Warren Togami

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<div dir=3D"ltr"><div>On Thu, Feb 27, 2014 at 7:25 PM, Troy Benjegerdes <sp=
an dir=3D"ltr">&lt;<a href=3D"mailto:hozer@hozed.org" target=3D"_blank">hoz=
er@hozed.org</a>&gt;</span> wrote:<br></div><div class=3D"gmail_extra"><div=
 class=3D"gmail_quote">
<blockquote class=3D"gmail_quote" style=3D"margin:0px 0px 0px 0.8ex;border-=
left-width:1px;border-left-color:rgb(204,204,204);border-left-style:solid;p=
adding-left:1ex"><br>
Either the transaction fees are sufficient to pay the cost for whatever<br>
random junk anyone wants to put there, or they are not, and if they are<br>
not, then I suggest you re-think the fee structure rather than trying<br>
to pre-regulate me putting 80 character pithy quotes in the blockhain.<br>
<div class=3D""><div class=3D"h5"><br></div></div></blockquote><div><br></d=
iv><a href=3D"https://github.com/litecoin-project/litecoin/commit/db4d8e21d=
99551bef4c807aa1534a074e4b7964d">https://github.com/litecoin-project/liteco=
in/commit/db4d8e21d99551bef4c807aa1534a074e4b7964d</a><br>
<div><br></div><div>In one way in particular, the transaction fees per kilo=
byte completely failed to account for the actual cost to the network. =C2=
=A0If Bitcoin had adopted a common-sense rule like this, I would have had n=
o reason to join Litecoin development last year. =C2=A0This is one of the f=
ew economic design flaws that Satoshi overlooked in the original design.</d=
iv>
<div><br></div><div>As much as I personally hate the idea of data storage i=
n the blockchain, this at least discourages the creation of permanent UTXO.=
</div><div><br></div><div>Warren Togami</div></div></div></div>

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