📅 Original date posted:2015-05-10 📝 Original message:Micropayment channels are ...

Mark Friedenbach [ARCHIVE] /

npub1r3s…8d0u

2023-06-07 15:34:00

in reply to nevent1q…38wx

📅 Original date posted:2015-05-10
📝 Original message:Micropayment channels are not pie in the sky proposals. They work today on
Bitcoin as it is deployed without any changes. People just need to start
using them.
On May 10, 2015 11:03, "Owen Gunden" <ogunden at phauna.org> wrote:

> 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.
>
>
> ------------------------------------------------------------------------------
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>
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