On Tue, Mar 25, 2014 at 08:45:00AM -0400, Gavin Andresen wrote:
> On Tue, Mar 25, 2014 at 8:28 AM, Peter Todd <p...@petertodd.org> wrote:
> > Bitcoin doesn't scale. There's a lot of issues at hand here, but the
> > most fundemental of them is that to create a block you need to update
> > the state of the UTXO set, and the way Bitcoin is designed means that
> > updating that state requires bandwidth equal to all the transaction
> > volume to keep up with the changes to what set. Long story short, we get
> > O(n^2) scaling, which is just plain infeasible.
> >
> We have a fundamental disagreement here.
> If you go back and read Satoshi's original thoughts on scaling, it is clear
> that he imagined tens of thousands of mining nodes and hundreds of millions
> of lightweight SPV users.

Yeah, about that...


For someone with 'Chief Scientist' as their job title, I'm surprised you
think so little of hard evidence and so much of idol worshipping.

P.S. A year or so ago you complained that if I cared so much about
decentralization, I should make P2Pool better. Your homework: What do
tree-chains and Andrew Miller's non-outsourcable puzzles(1) have to do
with that? What about the cube-square law? And why don't I think TXO
commitments solve the blocksize problem?

1) https://bitcointalk.org/index.php?topic=309073.0;all


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