James,
I share your conviction that miners are the natural gatekeepers of the
maximum block size.
The trouble I see with Block75 is that linear growth won't work forever.
Also, by reading actual and not miners' preferred max blocksize, this
proposal is sensitive to randomness in block timing and
Hi All,
I'm coming late to the party. I like the Block75 proposal.
Multiple people have said miners would/could stuff blocks with insincere
transactions to increase the block size, but it was never adequately
explained what they would gain from this. If there aren't enough legitimate
transactions
Andrew Johnson wrote:
> "You miss something obvious that makes this attack actually free of cost.
> Nothing will "cost them more in transaction fees". A miner can create
> thousands of transactions paying to himself, and not broadcast them to
> the network, but hold them and include them in the blo
The assumption you're making is incorrect. There is not an infinite number
of low-fee transactions.
Yes, the average fee will go down compared to today with Block75, but this
will balance itself between demand and the minimum fee miners are willing
to accept (not zero).
For example, add 200kb to
I think the main thing you're missing is that there will always be
transactions available to mine simply because demand for blockspace is
effectively unbounded as fees approach 0. Nodes generally have a
static mempool size and dynamic minrelaytxfee nowadays so as
transactions get mined lower fee tr
On Sun, Dec 11, 2016 at 1:40 PM, t. khan via bitcoin-dev <
bitcoin-dev@lists.linuxfoundation.org> wrote:
>
> Block75 is not exponential scaling. It's true the max theoretical increase
> in the first year would be 7x, but the next year would be a max of 2x, and
> the next could only increase by 50%
On Sun, Dec 11, 2016 at 3:31 PM, James Hilliard
wrote:
> What's most likely to happen is miners will max out the blocks they
> mine simply to try and get as many transaction fees as possible like
> they are doing right now(there will be a backlog of transactions at
> any block size). Having the b
"You miss something obvious that makes this attack actually free of cost.
Nothing will "cost them more in transaction fees". A miner can create
thousands of transactions paying to himself, and not broadcast them to
the network, but hold them and include them in the blocks he mines. The
fees are col
What's most likely to happen is miners will max out the blocks they
mine simply to try and get as many transaction fees as possible like
they are doing right now(there will be a backlog of transactions at
any block size). Having the block size double every year would likely
cause major problems and
On Sun, Dec 11, 2016 at 12:11 PM, s7r wrote:
>
> This is an incentive, if few miners agree to create a large conglomerate
> that will ultimately control the network.
>
> You miss something obvious that makes this attack actually free of cost.
> Nothing will "cost them more in transaction fees". A
t. khan wrote:
> Miners 'gaming' the Block75 system -
> There is no financial incentive for miners to attempt to game the
> Block75 system. Even if it were attempted and assuming the goal was to
> create bigger blocks, the maximum possible increase would be 25% over
> the previous block size. And
Well I think empirical game-theory observed on the network involves more
types of strategy than honest vs dishonest. At least 4, maybe 5 types of
strategy and I would argue lumping the strategies together results in
incorrect game theory conclusions and predictions.
A) altruistic players (protoco
The presumption of the mining aspect of the Bitcoin security model is that the
mining majority is a broadly distributed set of independent people, not one
person who controls a majority of the hash power.
You seem to have overlooked a qualifier in your Satoshi quote: "...by nodes
that are not
How is the adverse scenario you describe different from a plain old 51%
attack? Each proposed protocol change where 51% or more of the network
can potentially game the rules and break the system should be considered
just as acceptable/unacceptable as another.
There comes a point where some form
Miners individually have an incentive to include every transaction they can
when they mine a block, but they also sometimes have an incentive to
collectively cooperate to reduce throughput to make more money as a group.
Under schemes where limits can be adjusted both possibilities must be taken
int
Agreed, the clear goal of 10 minutes per block is why the difficulty
adjustment works well. Blocks averaging 75% full is the clear goal of the
described method. That's the target to attempt.
Under Block75, there will still be full blocks. There will still be
transaction fees and a fee market. The
Miners in general are naturally incentivized to always mine max size
blocks to maximize transaction fees simply because there is very
little marginal cost to including extra transactions(there will always
be a transaction backlog of some sort available to mine since demand
for block space is effect
Miners 'gaming' the Block75 system -
There is no financial incentive for miners to attempt to game the Block75
system. Even if it were attempted and assuming the goal was to create
bigger blocks, the maximum possible increase would be 25% over the previous
block size. And, that size would only last
On Mon, Dec 5, 2016 at 7:27 AM, t. khan via bitcoin-dev <
bitcoin-dev@lists.linuxfoundation.org> wrote:
>
> Put another way: let’s stop thinking about what the max block size should
> be and start thinking about how full we want the average block to be
> regardless of size. Over the last year, we’
On Sat, Dec 10, 2016 at 4:23 AM, Daniele Pinna via bitcoin-dev <
bitcoin-dev@lists.linuxfoundation.org> wrote:
> We have models for estimating the probability that a block is orphaned
> given average network bandwidth and block size.
>
> The question is, do we have objective measures of these two
To: bitcoin-dev@lists.linuxfoundation.org
Subject: [bitcoin-dev] Managing block size the same way we do
difficulty (aka Block75)
Message-ID:
Content-Type: text/plain; charset="utf-8"
BIP Proposal - Managing Bitcoin?s block size the same way we do difficulty
(aka Bloc
> While disk space requirements might not be a big problem, block
propagation time is
Is block propagation time really still a problem? Compact blocks and FIBRE
should help here.
> Bitcoin, because its fundamental design, can scale by using offchain
solutions.
I agree.
However, I believe that on
t. khan via bitcoin-dev wrote:
> BIP Proposal - Managing Bitcoin’s block size the same way we do
> difficulty (aka Block75)
>
> The every two-week adjustment of difficulty has proven to be a
> reasonably effective and predictable way of managing how quickly blocks
> are mined. Bitcoin needs a reas
BIP Proposal - Managing Bitcoin’s block size the same way we do difficulty
(aka Block75)
The every two-week adjustment of difficulty has proven to be a reasonably
effective and predictable way of managing how quickly blocks are mined.
Bitcoin needs a reasonably effective and predictable way of man
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