Re: [Bitcoin-development] Proposal: Vote on the blocksize limit with proof-of-stake voting

2013-06-10 Thread Daniel Lidstrom
Reserving my judgement until I've though about it more (design by committee scares me, and this voting sounds expensive), I think the SPV-verifiable moving median can be done by binning the space of block size limits, and for each node in the UTXO tree, a value for each bin is stored which is the

Re: [Bitcoin-development] Proposal: Vote on the blocksize limit with proof-of-stake voting

2013-06-10 Thread Melvin Carvalho
On 10 June 2013 06:09, John Dillon john.dillon...@googlemail.com wrote: -BEGIN PGP SIGNED MESSAGE- Hash: SHA256 It has been suggested that we leave the decision of what the blocksize to be entirely up to miners. However this leaves a parameter that affects every Bitcoin participant

Re: [Bitcoin-development] Proposal: Vote on the blocksize limit with proof-of-stake voting

2013-06-10 Thread Pieter Wuille
On Mon, Jun 10, 2013 at 10:14 AM, Melvin Carvalho melvincarva...@gmail.com wrote: However, Bitcoin's fundamental philosophy was one CPU one vote. This is perhaps the largest misconception that keeps being repeated. Bitcoin is not a democracy; it is a zero-trust system. The rules are set in

Re: [Bitcoin-development] Proposal: Vote on the blocksize limit with proof-of-stake voting

2013-06-10 Thread Mark Friedenbach
-BEGIN PGP SIGNED MESSAGE- Hash: SHA1 John, What you are recommending is a drastic change that the conservative bitcoin developers probably wouldn't get behind (but let's see). However proof-of-stake voting on protocol soft-forks has vast implications even beyond the block size limit.

Re: [Bitcoin-development] Proposal: Vote on the blocksize limit with proof-of-stake voting

2013-06-10 Thread Alan Reiner
One major problem I see with this, no matter how well-thought-out it is, it's unlikely that those with money will participate. Those with the most stake, likely have their private keys behind super-secure accessibility barriers, and are not likely to go through the effort just to sign votes. Not

Re: [Bitcoin-development] Decentralizing mining

2013-06-10 Thread Peter Todd
So here's the parts that need to be done for step #1: # Protocol Work Basic idea is the miner makes two connections, their pool, and a local bitcoind. They always (usually?) work on the subset of transactions common to both the pool's getblocktemplate and their local one. When they find a

Re: [Bitcoin-development] Decentralizing mining

2013-06-10 Thread Luke-Jr
On Monday, June 10, 2013 9:09:13 PM Peter Todd wrote: # Protocol Work This is basically done. Basic idea is the miner makes two connections, their pool, and a local bitcoind. They always (usually?) work on the subset of transactions common to both the pool's getblocktemplate and their

Re: [Bitcoin-development] Decentralizing mining

2013-06-10 Thread Melvin Carvalho
On 10 June 2013 23:09, Peter Todd p...@petertodd.org wrote: So here's the parts that need to be done for step #1: # Protocol Work Basic idea is the miner makes two connections, their pool, and a local bitcoind. They always (usually?) work on the subset of transactions common to both the