📅 Original date posted:2015-09-01
📝 Original message:On 2015-09-01, at 12:56 AM, Peter Todd via bitcoin-dev <bitcoin-dev at lists.linuxfoundation.org> wrote
>
> FWIW I did a quick math proof along those lines awhile back too using
> some basic first-year math, again proving that larger miners earn more
> money per unit hashing power:
>
> http://www.mail-archive.com/bitcoin-development@lists.sourceforge.net/msg03272.html
I don't believe anyone is arguing otherwise. Miners with a larger fraction of the network hash rate, h/H, have a theoretical advantage, all other variables in the miner's profitability equation held constant.
Dpinna originally claimed (unless I'm mistaken) that his paper showed that this advantage decreased as the block reward diminished or as the total fees increased. This didn't seem unreasonable to me, although I never checked the math.
Best regards,
Peter
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Peter R [ARCHIVE] /
npub1vx…lz2gn
2023-06-07 17:38:59
in reply to nevent1q…vhqr
Author Public Key
npub1vxzlqg5f7ykqr3hheqxdcqe35q02a8rr2mez30sjaldhlvu4hsvsqlz2gnPublished at
2023-06-07 17:38:59Event JSON
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"content": "📅 Original date posted:2015-09-01\n📝 Original message:On 2015-09-01, at 12:56 AM, Peter Todd via bitcoin-dev \u003cbitcoin-dev at lists.linuxfoundation.org\u003e wrote\n\u003e \n\u003e FWIW I did a quick math proof along those lines awhile back too using\n\u003e some basic first-year math, again proving that larger miners earn more\n\u003e money per unit hashing power:\n\u003e \n\u003e http://www.mail-archive.com/bitcoin-development@lists.sourceforge.net/msg03272.html\n\nI don't believe anyone is arguing otherwise. Miners with a larger fraction of the network hash rate, h/H, have a theoretical advantage, all other variables in the miner's profitability equation held constant. \n\nDpinna originally claimed (unless I'm mistaken) that his paper showed that this advantage decreased as the block reward diminished or as the total fees increased. This didn't seem unreasonable to me, although I never checked the math. \n\nBest regards,\nPeter\n\n\n \n\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20150901/85a88dc1/attachment.html\u003e\n-------------- next part --------------\nA non-text attachment was scrubbed...\nName: signature.asc\nType: application/pgp-signature\nSize: 496 bytes\nDesc: Message signed with OpenPGP using GPGMail\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20150901/85a88dc1/attachment.sig\u003e",
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