📅 Original date posted:2015-08-28
📝 Original message:With this proposal, how much would it cost a miner to include an 'extra' 500-byte transaction if the average block size is 900K and it costs the miner 20BTC in electricity/capital/etc to mine a block?
If my understanding of the proposal is correct, it is:
500/900000 * 20 = 0.11111 BTC
... Or $2.50 at today's exchange rate.
That seems excessive.
--
Gavin Andresen
> On Aug 28, 2015, at 5:15 PM, Matt Whitlock via bitcoin-dev <bitcoin-dev at lists.linuxfoundation.org> wrote:
>
> This is the best proposal I've seen yet. Allow me to summarize:
>
> • It addresses the problem, in Jeff Garzik's BIP 100, of miners selling their block-size votes.
> • It addresses the problem, in Gavin Andresen's BIP 101, of blindly trying to predict future market needs versus future technological capacities.
> • It avoids a large step discontinuity in the block-size limit by starting with a 1-MB limit.
> • It throttles changes to ±10% every 2016 blocks.
> • It imposes a tangible cost (higher difficulty) on miners who vote to raise the block-size limit.
> • It avoids incentivizing miners to vote to lower the block-size limit.
>
> However, this proposal currently fails to answer a very important question:
>
> • What is the mechanism for activation of the new consensus rule? It is when a certain percentage of the blocks mined in a 2016-block retargeting period contain valid block-size votes?
>
>
> https://github.com/btcdrak/bips/blob/bip-cbbsra/bip-cbbrsa.mediawiki
>
>
>> On Friday, 28 August 2015, at 9:28 pm, Btc Drak via bitcoin-dev wrote:
>> Pull request: https://github.com/bitcoin/bips/pull/187
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev at lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
Gavin [ARCHIVE] /
npub1fv…ed8pr
2023-06-07 17:37:51
in reply to nevent1q…v20s
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npub1fvd9jpjgn33ry4tt663e3fpsw5zysxzuacumergtweqhsa6ac9gqred8prPublished at
2023-06-07 17:37:51Event JSON
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"content": "📅 Original date posted:2015-08-28\n📝 Original message:With this proposal, how much would it cost a miner to include an 'extra' 500-byte transaction if the average block size is 900K and it costs the miner 20BTC in electricity/capital/etc to mine a block?\n\nIf my understanding of the proposal is correct, it is:\n\n500/900000 * 20 = 0.11111 BTC\n\n... Or $2.50 at today's exchange rate.\n\nThat seems excessive.\n\n--\nGavin Andresen\n\n\n\u003e On Aug 28, 2015, at 5:15 PM, Matt Whitlock via bitcoin-dev \u003cbitcoin-dev at lists.linuxfoundation.org\u003e wrote:\n\u003e \n\u003e This is the best proposal I've seen yet. Allow me to summarize:\n\u003e \n\u003e • It addresses the problem, in Jeff Garzik's BIP 100, of miners selling their block-size votes.\n\u003e • It addresses the problem, in Gavin Andresen's BIP 101, of blindly trying to predict future market needs versus future technological capacities.\n\u003e • It avoids a large step discontinuity in the block-size limit by starting with a 1-MB limit.\n\u003e • It throttles changes to ±10% every 2016 blocks.\n\u003e • It imposes a tangible cost (higher difficulty) on miners who vote to raise the block-size limit.\n\u003e • It avoids incentivizing miners to vote to lower the block-size limit.\n\u003e \n\u003e However, this proposal currently fails to answer a very important question:\n\u003e \n\u003e • What is the mechanism for activation of the new consensus rule? It is when a certain percentage of the blocks mined in a 2016-block retargeting period contain valid block-size votes?\n\u003e \n\u003e \n\u003e https://github.com/btcdrak/bips/blob/bip-cbbsra/bip-cbbrsa.mediawiki\n\u003e \n\u003e \n\u003e\u003e On Friday, 28 August 2015, at 9:28 pm, Btc Drak via bitcoin-dev wrote:\n\u003e\u003e Pull request: https://github.com/bitcoin/bips/pull/187\n\u003e _______________________________________________\n\u003e bitcoin-dev mailing list\n\u003e bitcoin-dev at lists.linuxfoundation.org\n\u003e https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev",
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