📅 Original date posted:2015-09-03
📝 Original message:Schemes proposing to pay with difficulty / hashpower to change block size
should be avoided. The miners incentive has always been fairly
straightforward - it is rational to deploy new hashpower as soon as you can
get it online. Introducing the concepts of (a) requiring out-of-band
collusion to change block size and/or (b) requiring miners to have idle
hashpower on hand to change block size are both unrealistic and potentially
corrosive. That potentially makes the block size - and therefore fee
market - too close, too sensitive to the wild vagaries of the mining chip
market.
Pay-to-future-miner has neutral, forward looking incentives worth
researching.
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Jeff Garzik [ARCHIVE] /
npub1kf…f3f58
2023-06-07 17:39:24
in reply to nevent1q…l8yr
Author Public Key
npub1kf0ppcjaguxekg24yx6smgxlu73qn0k8lm0t2wrqc0scpl7u3sgsmf3f58Published at
2023-06-07 17:39:24Event JSON
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"content": "📅 Original date posted:2015-09-03\n📝 Original message:Schemes proposing to pay with difficulty / hashpower to change block size\nshould be avoided. The miners incentive has always been fairly\nstraightforward - it is rational to deploy new hashpower as soon as you can\nget it online. Introducing the concepts of (a) requiring out-of-band\ncollusion to change block size and/or (b) requiring miners to have idle\nhashpower on hand to change block size are both unrealistic and potentially\ncorrosive. That potentially makes the block size - and therefore fee\nmarket - too close, too sensitive to the wild vagaries of the mining chip\nmarket.\n\nPay-to-future-miner has neutral, forward looking incentives worth\nresearching.\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20150903/c3b89058/attachment.html\u003e",
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