📅 Original date posted:2014-04-09
📝 Original message:On Wed, Apr 9, 2014 at 11:35 AM, Justus Ranvier <justusranvier at gmail.com> wrote:
> If the security of the network depends on a broken incentive model,
> then fix the design of the network so that economics works for you
> instead of against you.
Who says anything about a broken incentive model. You've made past
claims about resource requirements that I think made no sense and then
failed to defend them when they were challenge.
With suitable software improvements running a full node could be done
in as little as a few gigabytes in disk space (e.g. cost 25-50 cents),
and as 50-100kbit/sec bandwidth in and out ongoing, and a moderate
amount of ram. Power costs are already just a few cents per month. By
far the greatest cost is the figuring out and setting up part, which
bundling could fix. The exact resources could be tunable to what the
users are willing and able to contribute.
If improved marginal security and privacy in addition to supporting
the network is not enough incentive to overcome costs like these then
Bitcoin is already doomed. I think that fundamental costs aren't an
issue at all, just implementation warts and education are.
Part of asking the question is feeling out which improvements need to
happen first, and what the prospects of getting the bundling going
once those improvements are made.
Gregory Maxwell [ARCHIVE] /
npub1f2…crwet
2023-06-07 15:18:17
in reply to nevent1q…j6s9
Author Public Key
npub1f2nvlx49er5c7sqa43src6ssyp6snd4qwvtkwm5avc2l84cs84esecrwetPublished at
2023-06-07 15:18:17Event JSON
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"content": "📅 Original date posted:2014-04-09\n📝 Original message:On Wed, Apr 9, 2014 at 11:35 AM, Justus Ranvier \u003cjustusranvier at gmail.com\u003e wrote:\n\u003e If the security of the network depends on a broken incentive model,\n\u003e then fix the design of the network so that economics works for you\n\u003e instead of against you.\n\nWho says anything about a broken incentive model. You've made past\nclaims about resource requirements that I think made no sense and then\nfailed to defend them when they were challenge.\n\nWith suitable software improvements running a full node could be done\nin as little as a few gigabytes in disk space (e.g. cost 25-50 cents),\nand as 50-100kbit/sec bandwidth in and out ongoing, and a moderate\namount of ram. Power costs are already just a few cents per month. By\nfar the greatest cost is the figuring out and setting up part, which\nbundling could fix. The exact resources could be tunable to what the\nusers are willing and able to contribute.\n\nIf improved marginal security and privacy in addition to supporting\nthe network is not enough incentive to overcome costs like these then\nBitcoin is already doomed. I think that fundamental costs aren't an\nissue at all, just implementation warts and education are.\n\nPart of asking the question is feeling out which improvements need to\nhappen first, and what the prospects of getting the bundling going\nonce those improvements are made.",
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