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Date: Thu, 7 Nov 2013 08:09:20 -0500
From: Peter Todd <pete@petertodd.org>
To: Kyle Jerviss <kjj@jerviss.org>
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Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
Subject: Re: [Bitcoin-development] we can all relax now
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On Wed, Nov 06, 2013 at 10:59:28PM -0600, Kyle Jerviss wrote:
> Each block that you solve has a reward. In practice, some blocks
> will be orphaned, so the expected reward is slightly less than the
> nominal reward. Each second that you delay publishing a block, the
> expected reward drops somewhat.
You don't understand how to read papers.
A good author will state his assumptions. For instance my third
paragraph read:
Now in a purely inflation subsidy environment, where I don't care about
the other miners success, of course I should publish. However, if my
goals are to find *more* blocks than the other miners for whatever
reason, maybe because transaction fees matter or I'm trying to get
nLockTime'd announce/commit fee sacrifices, it gets more complicated.
Now that you understand the assumptions made, you can attack the paper
in one of two ways:
1) Show it's wrong.
2) Show its assumptions make it irrelevant.
You've done neither.
--=20
'peter'[:-1]@petertodd.org
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