On 06/12/2015 06:51 PM, Pieter Wuille wrote: >> However, it does very clearly show the effects of >> larger blocks on centralization pressure of the system.
On 6/14/2015 10:45 AM, Jonas Nick wrote: > This means that your scenario is not the result of a cartel but the result of > a long-term network partition. > Pieter, to Jonas' point, in your scenario the big miners are all part of the majority partition, so "centralization pressure" (pressure to merge with a big miner) cannot be separated from "pressure to be connected to the majority partition". I ran your simulation with a large (20%) miner in a 20% minority partition, and 16 small (5%) miners in a majority 80% partition, well connected. The starting point was your recent update, which had a more realistic "slow link" speed of 100 Mbit/s (making all of the effects smaller). To summarize the results across both your run and mine: ** Making small blocks when others are making big ones -> BAD ** As above, and fees are enormous -> VERY BAD ** Being separated by a slow link from majority hash power -> BAD ** Being a small miner with blocksize=20MB -> *NOT BAD* Configuration: * Miner group 0: 20.000000% hashrate, blocksize 20000000.000000 * Miner group 1: 80.000000% hashrate, blocksize 1000000.000000 * Expected average block size: 4800000.000000 * Average fee per block: 0.250000 * Fee per byte: 0.0000000521 Result: * Miner group 0: 20.404704% income (factor 1.020235 with hashrate) * Miner group 1: 79.595296% income (factor 0.994941 with hashrate) Configuration: * Miner group 0: 20.000000% hashrate, blocksize 20000000.000000 * Miner group 1: 80.000000% hashrate, blocksize 20000000.000000 * Expected average block size: 20000000.000000 * Average fee per block: 0.250000 * Fee per byte: 0.0000000125 Result: * Miner group 0: 19.864232% income (factor 0.993212 with hashrate) * Miner group 1: 80.135768% income (factor 1.001697 with hashrate) Configuration: * Miner group 0: 20.000000% hashrate, blocksize 20000000.000000 * Miner group 1: 80.000000% hashrate, blocksize 1000000.000000 * Expected average block size: 4800000.000000 * Average fee per block: 25.000000 * Fee per byte: 0.0000052083 Result: * Miner group 0: 51.316895% income (factor 2.565845 with hashrate) * Miner group 1: 48.683105% income (factor 0.608539 with hashrate) Configuration: * Miner group 0: 20.000000% hashrate, blocksize 20000000.000000 * Miner group 1: 80.000000% hashrate, blocksize 20000000.000000 * Expected average block size: 20000000.000000 * Average fee per block: 25.000000 * Fee per byte: 0.0000012500 Result: * Miner group 0: 19.865943% income (factor 0.993297 with hashrate) * Miner group 1: 80.134057% income (factor 1.001676 with hashrate) ------------------------------------------------------------------------------ _______________________________________________ Bitcoin-development mailing list Bitcoin-development@lists.sourceforge.net https://lists.sourceforge.net/lists/listinfo/bitcoin-development