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From: Mark Friedenbach <mark@friedenbach.org>
Date: Fri, 7 Aug 2015 16:01:05 -0700
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Cc: Bitcoin Dev <bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] If you had a single chance to double the
transactions/second Bitcoin allows...
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Actually I gave a cached answer earlier which on further review may need
updating. (Bad Mark!)
I presume by "what's more likely to matter is seconds" you are referencing
point of sale. As you mention yourself, lightning network or green address
style payment escrow obviates the need for short inter-block times.
But with lightning there is a danger of channels being exhausted in the
time between blocks, causing the need for new channels to be established.
So lightning does in fact benefit from moderately shorter inter-block
times, although how much of an issue this will be is anyone's guess now.
Still the first two points about larger SPV proofs and selfish mining still
hold true, which sets the bar particularly high for justifying more
frequent blocks.
On Fri, Aug 7, 2015 at 3:46 PM, Natanael <natanael.l@gmail.com> wrote:
> Den 7 aug 2015 23:37 skrev "Sergio Demian Lerner via bitcoin-dev" <
> bitcoin-dev@lists.linuxfoundation.org>:
> >
> > Mark,
> > It took you 3 minutes to respond to my e-mail. And I responded to you 4
> minutes later. If you had responded to me in 10 minutes, I would be of out
> the office and we wouldn't have this dialogue. So 5 minutes is a lot of
> time.
> >
> > Obviously this is not a technical response to the technical issues you
> argue. But "minutes" is a time scale we humans use to measure time very
> often.
>
> But what's more likely to matter is seconds. What you need then is some
> variant of multisignature notaries (Greenaddress.it, lightning network),
> where the combination of economic incentives and legal liability gives you
> the assurance of doublespend protection from the time of publication of the
> transaction to the first block confirmation.
>
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<div dir=3D"ltr"><div><div><div>Actually I gave a cached answer earlier whi=
ch on further review may need updating. (Bad Mark!)<br><br></div>I presume =
by "what's more likely to matter is seconds" you are referenc=
ing point of sale. As you mention yourself, lightning network or green addr=
ess style payment escrow obviates the need for short inter-block times.<br>=
<br></div>But with lightning there is a danger of channels being exhausted =
in the time between blocks, causing the need for new channels to be establi=
shed. So lightning does in fact benefit from moderately shorter inter-block=
times, although how much of an issue this will be is anyone's guess no=
w.<br><br></div>Still the first two points about larger SPV proofs and self=
ish mining still hold true, which sets the bar particularly high for justif=
ying more frequent blocks.<br></div><div class=3D"gmail_extra"><br><div cla=
ss=3D"gmail_quote">On Fri, Aug 7, 2015 at 3:46 PM, Natanael <span dir=3D"lt=
r"><<a href=3D"mailto:natanael.l@gmail.com" target=3D"_blank">natanael.l=
@gmail.com</a>></span> wrote:<br><blockquote class=3D"gmail_quote" style=
=3D"margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><span cl=
ass=3D""><p dir=3D"ltr">Den 7 aug 2015 23:37 skrev "Sergio Demian Lern=
er via bitcoin-dev" <<a href=3D"mailto:bitcoin-dev@lists.linuxfound=
ation.org" target=3D"_blank">bitcoin-dev@lists.linuxfoundation.org</a>>:=
<br>
><br>
> Mark,<br>
> It took you 3 minutes to respond to my e-mail. And I responded to you =
4 minutes later. If you had responded to me in 10 minutes, I would be of ou=
t the office and we wouldn't have this dialogue. So 5 minutes is a lot =
of time.<br>
><br>
> Obviously this is not a technical response to the technical issues you=
argue. But "minutes" is a time scale we humans use to measure ti=
me very often.</p>
</span><p dir=3D"ltr">But what's more likely to matter is seconds. What=
you need then is some variant of multisignature notaries (Greenaddress.it,=
lightning network), where the combination of economic incentives and legal=
liability gives you the assurance of doublespend protection from the time =
of publication of the transaction to the first block confirmation. </p>
</blockquote></div><br></div>
--001a113eb9c87d747d051cc09dd6--
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