Received: from sog-mx-1.v43.ch3.sourceforge.com ([172.29.43.191] helo=mx.sourceforge.net) by sfs-ml-1.v29.ch3.sourceforge.com with esmtp (Exim 4.76) (envelope-from ) id 1Z3TGl-0002g8-Op for bitcoin-development@lists.sourceforge.net; Fri, 12 Jun 2015 18:01:31 +0000 Received-SPF: pass (sog-mx-1.v43.ch3.sourceforge.com: domain of petertodd.org designates 62.13.148.93 as permitted sender) client-ip=62.13.148.93; envelope-from=pete@petertodd.org; helo=outmail148093.authsmtp.net; Received: from outmail148093.authsmtp.net ([62.13.148.93]) by sog-mx-1.v43.ch3.sourceforge.com with esmtp (Exim 4.76) id 1Z3TGk-0004Wc-Az for bitcoin-development@lists.sourceforge.net; Fri, 12 Jun 2015 18:01:31 +0000 Received: from mail-c237.authsmtp.com (mail-c237.authsmtp.com [62.13.128.237]) by punt16.authsmtp.com (8.14.2/8.14.2/) with ESMTP id t5CI1Lc2016209; Fri, 12 Jun 2015 19:01:21 +0100 (BST) Received: from muck ([85.255.235.202]) (authenticated bits=128) by mail.authsmtp.com (8.14.2/8.14.2/) with ESMTP id t5CI1Dlp092436 (version=TLSv1/SSLv3 cipher=DHE-RSA-AES128-SHA bits=128 verify=NO); Fri, 12 Jun 2015 19:01:17 +0100 (BST) Date: Fri, 12 Jun 2015 14:01:13 -0400 From: Peter Todd To: Pieter Wuille Message-ID: <20150612180028.GA19199@muck> References: MIME-Version: 1.0 Content-Type: multipart/signed; micalg=pgp-sha256; protocol="application/pgp-signature"; boundary="xgyAXRrhYN0wYx8y" Content-Disposition: inline In-Reply-To: X-Server-Quench: 06728cd7-112d-11e5-9f74-002590a135d3 X-AuthReport-Spam: If SPAM / abuse - report it at: http://www.authsmtp.com/abuse X-AuthRoute: OCd2Yg0TA1ZNQRgX IjsJECJaVQIpKltL GxAVKBZePFsRUQkR aAdMdwAUEkAaAgsB AmMbWl1eUFx7WGs7 Yw9PbwBYfEhNWhto UEpWR1pVCwQmRRly fx9qDllyfgdCe3g+ YkRhWD5bWkN4fRUp RVNVFG9SeGZhPWUC WRZfcx5UcAFPdx8U a1N6AHBDAzANdhES HhM4ODE3eDlSNilR RRkIIFQOdA4uHzg9 QR9KFjgpAVcMQyQh JgAnLVhUBFwcKV4v K1ZpV0gfNn1aDApY WlxLASFePVxJXzAs FQpVVFIfFzsVWj9R DxFA X-Authentic-SMTP: 61633532353630.1024:706 X-AuthFastPath: 0 (Was 255) X-AuthSMTP-Origin: 85.255.235.202/587 X-AuthVirus-Status: No virus detected - but ensure you scan with your own anti-virus system. X-Spam-Score: -1.5 (-) X-Spam-Report: Spam Filtering performed by mx.sourceforge.net. See http://spamassassin.org/tag/ for more details. -1.5 SPF_CHECK_PASS SPF reports sender host as permitted sender for sender-domain -0.0 SPF_PASS SPF: sender matches SPF record X-Headers-End: 1Z3TGk-0004Wc-Az Cc: Bitcoin Dev Subject: Re: [Bitcoin-development] Mining centralization pressure from non-uniform propagation speed X-BeenThere: bitcoin-development@lists.sourceforge.net X-Mailman-Version: 2.1.9 Precedence: list List-Id: List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Fri, 12 Jun 2015 18:01:31 -0000 --xgyAXRrhYN0wYx8y Content-Type: text/plain; charset=us-ascii Content-Disposition: inline Content-Transfer-Encoding: quoted-printable On Fri, Jun 12, 2015 at 06:51:02PM +0200, Pieter Wuille wrote: > The configuration used in the code right now simulates two groups of mine= rs > (one 80%=3D25%+25%+30%, one 20%=3D5%+5%+5%+5%), which are well-connected > internally, but are only connected to each other through a slow 2 Mbit/s > link. >=20 > Here are some results. >=20 > This shows how the group of smaller miners loses around 8% of their > relative income (if they create larger blocks, their loss percentage goes > up slightly further): To be clear, when you say 8% of their income, you mean revenue, not profit? Actual profit margins of something like 5%-10% are likely, so that's an enormous hit that could make their mining operation completely non-viable. --=20 'peter'[:-1]@petertodd.org 0000000000000000127ab1d576dc851f374424f1269c4700ccaba2c42d97e778 --xgyAXRrhYN0wYx8y Content-Type: application/pgp-signature; name="signature.asc" Content-Description: Digital signature -----BEGIN PGP SIGNATURE----- iQGrBAEBCACVBQJVex5mXhSAAAAAABUAQGJsb2NraGFzaEBiaXRjb2luLm9yZzAw MDAwMDAwMDAwMDAwMDAxMjdhYjFkNTc2ZGM4NTFmMzc0NDI0ZjEyNjljNDcwMGNj YWJhMmM0MmQ5N2U3NzgvFIAAAAAAFQARcGthLWFkZHJlc3NAZ251cGcub3JncGV0 ZUBwZXRlcnRvZC5vcmcACgkQwIXyHOf0udyYfAf+JgFbP7zgv6rbp3G2s79+vOMB VxyUJMc04SLqFbj4ldqaL6fpevSCB9qhuR7pgCVlGhtpqrgn/qYbbdioH5pyO0Mn n9XwgXu0PczmT8zh7vHFCdsO0jNl7suVKpvaNOVEq6s6VQHa/HtOMEjMmhpIUhHw nnGSmgaNYSbzy1rck0t9s0pQUyS4koF7no5Nh8O8iV9s1GzUQx1dtdlUjLRGr71X njgb3rR6i01CERo5nwscFq/wst+F7zZ/RvqaShZLgT6kZePeckscqicILBGyYMiX 5nrVYfsGV/goR0CaRshk2WN3NUE9F967FkK40d6YYS38fuXGkmB9ODriUpbzBg== =c+oY -----END PGP SIGNATURE----- --xgyAXRrhYN0wYx8y--