Return-Path: Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org [172.17.192.35]) by mail.linuxfoundation.org (Postfix) with ESMTPS id CAA4683D for ; Wed, 5 Aug 2015 23:51:05 +0000 (UTC) X-Greylist: whitelisted by SQLgrey-1.7.6 Received: from mail-la0-f52.google.com (mail-la0-f52.google.com [209.85.215.52]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id 3597F192 for ; Wed, 5 Aug 2015 23:51:05 +0000 (UTC) Received: by labjt7 with SMTP id jt7so21202364lab.0 for ; Wed, 05 Aug 2015 16:51:03 -0700 (PDT) DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=gmail.com; s=20120113; h=mime-version:in-reply-to:references:date:message-id:subject:from:to :cc:content-type; bh=QsGHpoOVlr4yfAk5zj0ZasSSbHYpv3qBdWs5E5TpvPU=; b=b48n/7+kAyBWnu5RLgpJTdNRbtDNflj2WEN1JJQ7MsqlYwBMlH3eeXdTlBqNmyxBAa wy8FmHu503qs4NTpmogfFQItX2cYDQ/HQxm7W/1tsfSWHL0puq4LBOMEXx4bcWpPYVMm 9UsAnDEM1kaL+5kZ6PSTVyQkDv2lfGVWFeWKoi9w4VrniEFVSPfdBsO1/4EzI6tL/yJd 4R0HkhEQzIn8NC55icEpvDu/melie0+sRCTnxAU4Kxjbiw1/7fMz3KP+szXZ6SekhnFu z8IqorQflD/LhPtvO/jXpf+EOv8CyCy3Y0SA2TJWqUW35CVpbDNyRXgG+2dCcB05/GVh P7fQ== MIME-Version: 1.0 X-Received: by 10.112.239.43 with SMTP id vp11mr11820609lbc.75.1438818663465; Wed, 05 Aug 2015 16:51:03 -0700 (PDT) Received: by 10.25.143.195 with HTTP; Wed, 5 Aug 2015 16:51:03 -0700 (PDT) In-Reply-To: References: Date: Wed, 5 Aug 2015 19:51:03 -0400 Message-ID: From: Gavin Andresen To: =?UTF-8?B?Sm9yZ2UgVGltw7Nu?= Content-Type: multipart/alternative; boundary=001a113492b8550ac4051c991306 X-Spam-Status: No, score=-2.7 required=5.0 tests=BAYES_00,DKIM_SIGNED, DKIM_VALID,DKIM_VALID_AU,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 Subject: Re: [bitcoin-dev] Superluminal communication and the consensus block size limit X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Development Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Wed, 05 Aug 2015 23:51:05 -0000 --001a113492b8550ac4051c991306 Content-Type: text/plain; charset=UTF-8 Content-Transfer-Encoding: quoted-printable On Wed, Aug 5, 2015 at 7:24 PM, Jorge Tim=C3=B3n < bitcoin-dev@lists.linuxfoundation.org> wrote: > Miner A is able to process 100 M tx/block while miner B is only able > to process 10 M tx/block. > > Will miner B be able to maintain itself competitive against miner B? > > The answer is: it depends on the consensus maximum block size. > No, it depends on all of the variables that go into the mining profitability equation. Does miner B have access to cheaper electricity than miner A? Access to more advanced mining hardware, sooner? Ability to use excess heat generated from mining productively? Access to inexpensive labor to oversee their operations? Access to inexpensive capital to finance investment in hardware? The number of fee-paying transactions a miner can profitably include in their blocks will certainly eventually be part of that equation (it is insignificant today), and that's fantastic-- we WANT miners to include lots of transactions in their blocks. --=20 -- Gavin Andresen --001a113492b8550ac4051c991306 Content-Type: text/html; charset=UTF-8 Content-Transfer-Encoding: quoted-printable
On W= ed, Aug 5, 2015 at 7:24 PM, Jorge Tim=C3=B3n <bitcoin= -dev@lists.linuxfoundation.org> wrote:
Miner A is able to process 100 M tx/block while miner B is on= ly able
to process 10 M tx/block.

Will miner B be able to maintain itself competitive against miner B?

The answer is: it depends on the consensus maximum block size.
=C2=A0
No, it depends on all of the variables that go i= nto the mining profitability equation.

=
Does miner B have access to cheaper electr= icity than miner A?
Access to more advanced= mining hardware, sooner?
Ability to use ex= cess heat generated from mining productively?
Access to inexpensive labor to oversee their operations?
Access to inexpensive capital to finance investment in har= dware?

The number of fee-paying transactions a miner can profitably include in th= eir blocks will certainly eventually be part of that equation (it is insign= ificant today), and that's fantastic-- we WANT miners to include lots o= f transactions in their blocks.

--
--
Gavin Andresen

--001a113492b8550ac4051c991306--