Re: [Bitcoin-development] Long-term mining incentives

2015-05-16 Thread Owen Gunden
On 05/13/2015 09:31 PM, Aaron Voisine wrote: by people and businesses deciding to not use on-chain settlement. I completely agree. Increasing fees will cause people voluntary economize on blockspace by finding alternatives, i.e. not bitcoin. This strikes me as a leap. There are alternatives

Re: [Bitcoin-development] Proposed alternatives to the 20MB step function

2015-05-16 Thread Tier Nolan
On Sat, May 16, 2015 at 1:22 AM, Rusty Russell ru...@rustcorp.com.au wrote: Some tweaks: 1) Nomenclature: call tx_size tx_cost and real_size tx_bytes? Fair enough. 2) If we have a reasonable hard *byte* limit, I don't think that we need the MAX(). In fact, it's probably OK to go

Re: [Bitcoin-development] Block Size Increase Requirements

2015-05-16 Thread Tier Nolan
On Sat, May 9, 2015 at 4:08 AM, Peter Todd p...@petertodd.org wrote: I wonder if having a miner flag would be good for the network. Makes it trivial to find miners and DoS attack them - a huge risk to the network as a whole, as well as the miners. To mitigate against this, two chaintips

Re: [Bitcoin-development] Block Size Increase Requirements

2015-05-16 Thread Tier Nolan
On Sat, May 16, 2015 at 5:39 AM, Stephen stephencalebmo...@gmail.com wrote: I think this could be mitigated by counting confirmations differently. We should think of confirmations as only coming from blocks following the miners' more strict rule set. So if a merchant were to see payment for

Re: [Bitcoin-development] Long-term mining incentives

2015-05-16 Thread Aaron Voisine
On Sat, May 16, 2015 at 1:35 PM, Owen Gunden ogun...@phauna.org wrote: This strikes me as a leap. There are alternatives that still use bitcoin as the unit of value, such as sidechains, offchain, etc. To say that these are not bitcoin is misleading. The only options available today and in

Re: [Bitcoin-development] No Bitcoin For You

2015-05-16 Thread Ryan X. Charles
I agree with this analysis. I'm not sure if we will increase 1 MB block size or not, but with a block size that small, it is all but impossible for most people on the planet to ever own even a single utxo. At 7tps, how long would it take to give 1 utxo to all of the 7 billion people currently

Re: [Bitcoin-development] Long-term mining incentives

2015-05-16 Thread Tom Harding
On 5/16/2015 1:35 PM, Owen Gunden wrote: There are alternatives that still use bitcoin as the unit of value, such as sidechains, offchain, etc. To say that these are not bitcoin is misleading. Is it? Nobody thinks euro accepted implies Visa is ok, even though Visa is just a bunch of extra