Re: [bitcoin-dev] BIP Idea: Marginal Pricing

It is clear that charging min fee won't maximize total miner's fees because it ignores heterogeneity in willingness to pay among bidders within the same block. Also, spamming can still occur by setting a large number of transactions to the min fee. Competition between spammers might drive up

Re: [bitcoin-dev] BIP Idea: Marginal Pricing

This idea presumes that the protocol has any ability to regulate fees. I believe the locally optimal strategy for both miners and payers alike is to accept (pay) zero fees natively in the protocol and instead accept (pay) their actual fees out-of-band or via OP_TRUE outputs which the miner can

Re: [bitcoin-dev] A DNS-like decentralized mapping for wallet addresses?

https://www.walletnames.com Based on a standard that can support blockchain based or traditional ICANN DNS. On Fri, Dec 1, 2017 at 6:20 AM, mandar mulherkar via bitcoin-dev < bitcoin-dev@lists.linuxfoundation.org> wrote: > Hello, > > I am new, so apologies if this has been asked before. > >

[bitcoin-dev] A DNS-like decentralized mapping for wallet addresses?

Hello, I am new, so apologies if this has been asked before. Here are a few questions to start with - I was wondering in terms of mass adoption, instead of long wallet addresses, maybe there should be a DNS-like decentralized mapping service to provide a user@crypto address? This address

Re: [bitcoin-dev] A DNS-like decentralized mapping for wallet addresses?

On 2017/11/30 14:20, mandar mulherkar via bitcoin-dev wrote: > I was wondering in terms of mass adoption, instead of long wallet > addresses, maybe there should be a DNS-like decentralized mapping > service to provide a user@crypto address? A few years ago, I was part of an effort with Armory and

Re: [bitcoin-dev] BIP Idea: Marginal Pricing

On 11/29/2017 10:13 PM, William Morriss via bitcoin-dev wrote: > On Wed, Nov 29, 2017 at 6:38 PM, Ben Kloester > wrote: > > Something similar to this has been proposed in this article by Ron > Lavi, Or Sattath, and Aviv Zohar, and

Re: [bitcoin-dev] BIP Idea: Marginal Pricing

The main issue that I see with this proposal is that miners can still spam the network for free even with high sat/byte fee levels. They can first choose the sat/byte rate that maximize their profit, and then include a lot of spam transactions at that rate that will only pay fees to themselves,

Re: [bitcoin-dev] BIP Idea: Marginal Pricing

On Thu, Nov 30, 2017 at 6:13 AM, William Morriss via bitcoin-dev wrote: > I believe this OOB scenario is imaginary. Either it would be more profitable Out of band fees are a reality even today-- and have for most of Bitcoin's life--, without a system that

Re: [bitcoin-dev] BIP Idea: Marginal Pricing

Hi All, Auction theory is a well-studied problem in the economics literature. Currently what bitcoin has is Generalized first-price auction, where winning bidders pay their full bids. Alternatively, two approaches are potentially viable, which are Generalized second-price auction and

Re: [bitcoin-dev] BIP Idea: Marginal Pricing

On Wed, Nov 29, 2017 at 6:38 PM, Ben Kloester wrote: > Something similar to this has been proposed in this article by Ron Lavi, > Or Sattath, and Aviv Zohar, and discussed in this bitcoin-dev thread > https://lists.linuxfoundation.org/pipermail/bitcoin- >

Re: [bitcoin-dev] BIP Idea: Marginal Pricing

On Wed, Nov 29, 2017 at 9:52 PM, Chenxi Cai wrote: > Hi All, > > > Auction theory is a well-studied problem in the economics literature. > Currently what bitcoin has is Generalized first-price auction, where > winning bidders pay their full bids. Alternatively, two