📅 Original date posted:2015-05-10
📝 Original message:On 05/08/2015 11:36 PM, Gregory Maxwell wrote:
> Another related point which has been tendered before but seems to have
> been ignored is that changing how the size limit is computed can help
> better align incentives and thus reduce risk. E.g. a major cost to the
> network is the UTXO impact of transactions, but since the limit is blind
> to UTXO impact a miner would gain less income if substantially factoring
> UTXO impact into its fee calculations; and without fee impact users have
> little reason to optimize their UTXO behavior.
Along the lines of aligning incentives with a diversity of costs to a
variety of network participants, I am curious about reactions to Justus'
general approach:
http://bitcoinism.liberty.me/2015/02/09/economic-fallacies-and-the-block-size-limit-part-2-price-discovery/
I realize it relies on pie-in-the-sky ideas like micropayment channels,
but I wonder if it's a worthy long-term ideal direction for this stuff.
Owen Gunden [ARCHIVE] /
npub130…hyp4t
2023-06-07 15:34:00
in reply to nevent1q…uwu4
Author Public Key
npub130jddflllc905dlmj0pks9j6fdtld9eu0pql9gm86dxts7whrvxq5hyp4tPublished at
2023-06-07 15:34:00Event JSON
{
"id": "995b6ea0c81e5ca0ec03e9fd721fe4e57300754742dd9ad08e08aab69a2e191a",
"pubkey": "8be4d6a7fffe0afa37fb93c368165a4b57f6973c7841f2a367d34cb879d71b0c",
"created_at": 1686152040,
"kind": 1,
"tags": [
[
"e",
"aec396df7693e37c124fbd2891fe6c4a3b28f46e7fbc3f304a7b1d78d2f5ffbe",
"",
"root"
],
[
"e",
"d6489032cd8a740c8ac222a997eebb3b06d11168bae1a2ce2c296756359c1a82",
"",
"reply"
],
[
"p",
"46986f86b97cc97829a031b03209644d134b939d0163375467f0b1363e0d875e"
]
],
"content": "📅 Original date posted:2015-05-10\n📝 Original message:On 05/08/2015 11:36 PM, Gregory Maxwell wrote:\n\u003e Another related point which has been tendered before but seems to have\n\u003e been ignored is that changing how the size limit is computed can help\n\u003e better align incentives and thus reduce risk. E.g. a major cost to the\n\u003e network is the UTXO impact of transactions, but since the limit is blind\n\u003e to UTXO impact a miner would gain less income if substantially factoring\n\u003e UTXO impact into its fee calculations; and without fee impact users have\n\u003e little reason to optimize their UTXO behavior.\n\nAlong the lines of aligning incentives with a diversity of costs to a \nvariety of network participants, I am curious about reactions to Justus' \ngeneral approach:\n\nhttp://bitcoinism.liberty.me/2015/02/09/economic-fallacies-and-the-block-size-limit-part-2-price-discovery/\n\nI realize it relies on pie-in-the-sky ideas like micropayment channels, \nbut I wonder if it's a worthy long-term ideal direction for this stuff.",
"sig": "3b76c974249f5fc4a0e105e492127a0065b6f99cec8bb026d8120175b0ba5629f072179d4a62ea7974d1fb531182c5a707553dbeb8f6885d28b90987bac7fd42"
}