Return-Path: Received: from smtp4.osuosl.org (smtp4.osuosl.org [IPv6:2605:bc80:3010::137]) by lists.linuxfoundation.org (Postfix) with ESMTP id 7E959C0001 for ; Sun, 16 May 2021 23:29:51 +0000 (UTC) Received: from localhost (localhost [127.0.0.1]) by smtp4.osuosl.org (Postfix) with ESMTP id 4E9974036F for ; Sun, 16 May 2021 23:29:51 +0000 (UTC) X-Virus-Scanned: amavisd-new at osuosl.org X-Spam-Flag: NO X-Spam-Score: -2.1 X-Spam-Level: X-Spam-Status: No, score=-2.1 tagged_above=-999 required=5 tests=[BAYES_00=-1.9, DKIM_SIGNED=0.1, DKIM_VALID=-0.1, DKIM_VALID_AU=-0.1, DKIM_VALID_EF=-0.1, FREEMAIL_FROM=0.001, RCVD_IN_DNSWL_NONE=-0.0001, SPF_PASS=-0.001] autolearn=ham autolearn_force=no Authentication-Results: smtp4.osuosl.org (amavisd-new); dkim=pass (2048-bit key) header.d=gmail.com Received: from smtp4.osuosl.org ([127.0.0.1]) by localhost (smtp4.osuosl.org [127.0.0.1]) (amavisd-new, port 10024) with ESMTP id Uf1mH_8hKAgk for ; Sun, 16 May 2021 23:29:50 +0000 (UTC) X-Greylist: whitelisted by SQLgrey-1.8.0 Received: from mail-lj1-x229.google.com (mail-lj1-x229.google.com [IPv6:2a00:1450:4864:20::229]) by smtp4.osuosl.org (Postfix) with ESMTPS id 23B1C40367 for ; Sun, 16 May 2021 23:29:50 +0000 (UTC) Received: by mail-lj1-x229.google.com with SMTP id e11so4998350ljn.13 for ; Sun, 16 May 2021 16:29:49 -0700 (PDT) DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=gmail.com; s=20161025; h=mime-version:in-reply-to:references:from:date:message-id:subject:to; bh=2IAEzFbzvspqAPq4nU+MnMiBZBLKx0z9fmdAs3uFAfA=; b=AIf5DzaS45/9nSy+VO2cCjsfV+YKewagDaNw9cZ9kTGhJ76OLhgxX4z977LJwMzJfA wmy52Wg71qquEkpXgWAphjNOnH4UKpRZbw5Ifk1Hpru6DG3jpyXXr6fOgu1z4+UrWVtF +aTe/RDYcyErQXOw0Qdif+XGuNr9+uIb0iuE+pzY1L7ogbAsjl054k8omtMKFsxHSZ3y wPZRQGULVvlBQZ2t85WPtP2IAl6O9en6tjSjVhUJK/gBmwOAqFbETtXMUQvNndwKpLJO MMOgaPTU4TWujjIxP09TJ3BP3uDrdDCmCiSLFL/CvsK58M0hcZQcKTK95MqPc0873aS2 cUmQ== X-Google-DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=1e100.net; s=20161025; h=x-gm-message-state:mime-version:in-reply-to:references:from:date :message-id:subject:to; bh=2IAEzFbzvspqAPq4nU+MnMiBZBLKx0z9fmdAs3uFAfA=; b=Fv16r5CY2DB8Cbrs+VrNGjjufVpvf4XszQM+Y1w+VZmwyi9mIdVT8M3KC2/Yr3ZoK+ j1U1+Q7FLqBsf9F6V/XLqICW6Q4yE3bpQqsJ4clf5ct1fncUJHmA7SeUeHcOYU6ie4jy 7I/m9DKZEwRGjaAavephdxfw4QXvecye9KCKyhTShvtajSCRghpGkdKbJXXiF1qnJLbR TZHeLEpKkRyM48u70sXHIYj3E4t0zFCmqZORFwn/+OitA95W8O0+1lAhZ/3BmdMp/uyV rMA0Ze4SVJbmAyqJhKk9Elk/Xnk4REWYX6Ll+HQMyo+9on+OnGMnMPOJTbrgz1+62rMw fNXg== X-Gm-Message-State: AOAM533cG/NN1o2SpHsT3NP3X25viHJlFJtud1xn+C0Gj8H1h7f0mcX/ xNEe27dZmymktO98v9jT6KGVR83hGKE9+vpQM/Z8KvZr X-Google-Smtp-Source: ABdhPJzkuOKMkL88ShxhFrMvCYRzPGukI/C2JxZXMMBrvKzkgWXN5TV7BBZvxW3B+JGLZCdG/mgy9X4edurMwGeBpck= X-Received: by 2002:a2e:9583:: with SMTP id w3mr47240103ljh.172.1621207788075; Sun, 16 May 2021 16:29:48 -0700 (PDT) MIME-Version: 1.0 Received: by 2002:a05:651c:2109:0:0:0:0 with HTTP; Sun, 16 May 2021 16:29:47 -0700 (PDT) In-Reply-To: References: From: Karl Date: Sun, 16 May 2021 19:29:47 -0400 Message-ID: To: Eric Voskuil , Bitcoin Protocol Discussion Content-Type: text/plain; charset="UTF-8" X-Mailman-Approved-At: Mon, 17 May 2021 07:44:08 +0000 Subject: Re: [bitcoin-dev] Proposal: Force to do nothing for first 9 minutes to save 90% of mining energy X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.15 Precedence: list List-Id: Bitcoin Protocol Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Sun, 16 May 2021 23:29:51 -0000 On 5/16/21, Eric Voskuil via bitcoin-dev wrote: > https://github.com/libbitcoin/libbitcoin-system/wiki/Efficiency-Paradox > https://github.com/libbitcoin/libbitcoin-system/wiki/Proof-of-Memory-Fallacy The chain security actually reduces by 10% in this proposal. So the efficiency paradox is not violated, it is just the real cost of confirming a transaction is reduced, because there is actually less security. This eventually reduces the price of bitcoin and reduces the amount of electricity the block reward can eventually buy.