📅 Original date posted:2015-08-08 📝 Original message:-----BEGIN PGP SIGNED ...

Peter Todd [ARCHIVE] /

npub1m23…2np2

2023-06-07 17:34:26

in reply to nevent1q…aefj

📅 Original date posted:2015-08-08
📝 Original message:-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA256

On 8 August 2015 11:03:04 GMT-04:00, Hector Chu <hectorchu at gmail.com> wrote:
>Thanks for this Peter. It is quite long winded and complicated so I
>just
>wanted to clarify one particular point. In John's proposal, are the
>coins
>actually locked up, or are they still freely spendable post-vote?
>Otherwise
>there is no real cost to casting votes. Locking coins up is related to
>the
>time-value of money and has a cost the longer they are locked up for.

John Dillon's proposal is essentially to have the economic majority give miners *permission* to raise the blocksize; making the vote costly is against the design intent of accurately capturing the broadest possible economic consensus.

-----BEGIN PGP SIGNATURE-----

iQE9BAEBCAAnIBxQZXRlciBUb2RkIDxwZXRlQHBldGVydG9kZC5vcmc+BQJVxhvv
AAoJEMCF8hzn9Lnc47AH/1/4QjqSS2yYndM5evkl4h9ZJDxpeq++21pDprKn1HSu
a5+0M8bcM1Jlk5+GSFqDLl920yQXTPZ5AOvJ9F6085/g2heGEg2iHP/iJsOGK6xe
VWF/yR8sFYEe41BXP9r/la/AUFPcQWFUBqZgPqDBCqr87k2Hn5d3t0VITNwNHCge
VJKlESGyyg3nMxfrvQq1YspKBkhTpIFMz1aw0CUh3kVOpmW2luFcA7SQzOWfBgDd
3ZExFhcn/5GcK3GudRsvcPNSIZQzeZcX2uQHCzQa7kvPdlZ1XntkE2ojy31Zq0nv
Pj+CDBeKYtr4R0ZEn2bKhq39C3+1SZa5XkuCHAanBbQ=
=vp56
-----END PGP SIGNATURE-----

Author Public Key

npub1m230cem2yh3mtdzkg32qhj73uytgkyg5ylxsu083n3tpjnajxx4qqa2np2

Show more details

Published at

2023-06-07 17:34:26

Kind type

1 Short Text Note

Event JSON

{ "id": "ee8eca2119434b57154f1a26fb25cc437fde1ceca16ca0792e765cc1eb0e956b", "pubkey": "daa2fc676a25e3b5b45644540bcbd1e1168b111427cd0e3cf19c56194fb231aa", "created_at": 1686159266, "kind": 1, "tags": [ [ "e", "ed77fceb9ed5717e0806eef5cdc233d97bdc540da0932680d3382c19814f29c3", "", "root" ], [ "e", "151ac9c8d928de4f987e5edd154b32c8ebf643ef42dd68ae13bb0808001c0277", "", "reply" ], [ "p", "f3e056e548ecd779cfbea56b1bf9eb9c26afb3780523aa0df2e58f34f4b1faee" ] ], "content": "📅 Original date posted:2015-08-08\n📝 Original message:-----BEGIN PGP SIGNED MESSAGE-----\nHash: SHA256\n\n\n\nOn 8 August 2015 11:03:04 GMT-04:00, Hector Chu \u003chectorchu at gmail.com\u003e wrote:\n\u003eThanks for this Peter. It is quite long winded and complicated so I\n\u003ejust\n\u003ewanted to clarify one particular point. In John's proposal, are the\n\u003ecoins\n\u003eactually locked up, or are they still freely spendable post-vote?\n\u003eOtherwise\n\u003ethere is no real cost to casting votes. Locking coins up is related to\n\u003ethe\n\u003etime-value of money and has a cost the longer they are locked up for.\n\nJohn Dillon's proposal is essentially to have the economic majority give miners *permission* to raise the blocksize; making the vote costly is against the design intent of accurately capturing the broadest possible economic consensus.\n\n-----BEGIN PGP SIGNATURE-----\n\niQE9BAEBCAAnIBxQZXRlciBUb2RkIDxwZXRlQHBldGVydG9kZC5vcmc+BQJVxhvv\nAAoJEMCF8hzn9Lnc47AH/1/4QjqSS2yYndM5evkl4h9ZJDxpeq++21pDprKn1HSu\na5+0M8bcM1Jlk5+GSFqDLl920yQXTPZ5AOvJ9F6085/g2heGEg2iHP/iJsOGK6xe\nVWF/yR8sFYEe41BXP9r/la/AUFPcQWFUBqZgPqDBCqr87k2Hn5d3t0VITNwNHCge\nVJKlESGyyg3nMxfrvQq1YspKBkhTpIFMz1aw0CUh3kVOpmW2luFcA7SQzOWfBgDd\n3ZExFhcn/5GcK3GudRsvcPNSIZQzeZcX2uQHCzQa7kvPdlZ1XntkE2ojy31Zq0nv\nPj+CDBeKYtr4R0ZEn2bKhq39C3+1SZa5XkuCHAanBbQ=\n=vp56\n-----END PGP SIGNATURE-----", "sig": "0999c91ecd848d49ba4ea0026dcefe5c2488fac88db3cd4b1db1f57547ed1425049512a17027a03e02f4c52c5b08f8a602a022e79a0125aed005878ef7118007" }