jl2012 at xbt.hk [ARCHIVE] on Nostr: 📅 Original date posted:2015-09-03 📝 Original message:Assuming that: 1. The ...
📅 Original date posted:2015-09-03
📝 Original message:Assuming that:
1. The current block size is 1MB
2. The block reward for a full block is 25.5BTC including tx fee
3. Miner is required to pay x% of reward penalty if he is trying to
increase the size of the next block by x%
If a miner wants to increase the block size by 1 byte, the block size
has to increase by 0.0001%, and the penalty will be 0.0000255BTC/byte.
For a typical 230byte tx that'd be 0.005865BTC, or 1.35USD at current
rate. This is the effective minimum tx fee.
Jeff Garzik 於 2015-09-03 10:18 寫到:
> Thanks for the link. I readily admit only having given
> pay-to-future-miner a little bit of thought. Not convinced it sets a
> minimal tx fee in all cases.
>
> On Thu, Sep 3, 2015 at 12:55 AM, <jl2012 at xbt.hk> wrote:
>
>> Jeff Garzik via bitcoin-dev 於 2015-09-03 00:05 寫到:
>>
>>> 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.
>>>
>>> _______________________________________________
>>> bitcoin-dev mailing list
>>> bitcoin-dev at lists.linuxfoundation.org
>>> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>>> [1]
>>
>> Ref:
>>
> https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-August/010723.html
>> [2]
>>
>> I explained here why pay with difficulty is bad for everyone:
>> miners and users, and described the use of OP_CLTV for
>> pay-to-future-miner
>>
>> However, a general problem of pay-to-increase-block-size scheme is
>> it indirectly sets a minimal tx fee, which could be difficult and
>> arbitrary, and is against competition
>
>
>
> Links:
> ------
> [1] https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
> [2]
> https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-August/010723.html
📝 Original message:Assuming that:
1. The current block size is 1MB
2. The block reward for a full block is 25.5BTC including tx fee
3. Miner is required to pay x% of reward penalty if he is trying to
increase the size of the next block by x%
If a miner wants to increase the block size by 1 byte, the block size
has to increase by 0.0001%, and the penalty will be 0.0000255BTC/byte.
For a typical 230byte tx that'd be 0.005865BTC, or 1.35USD at current
rate. This is the effective minimum tx fee.
Jeff Garzik 於 2015-09-03 10:18 寫到:
> Thanks for the link. I readily admit only having given
> pay-to-future-miner a little bit of thought. Not convinced it sets a
> minimal tx fee in all cases.
>
> On Thu, Sep 3, 2015 at 12:55 AM, <jl2012 at xbt.hk> wrote:
>
>> Jeff Garzik via bitcoin-dev 於 2015-09-03 00:05 寫到:
>>
>>> 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.
>>>
>>> _______________________________________________
>>> bitcoin-dev mailing list
>>> bitcoin-dev at lists.linuxfoundation.org
>>> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>>> [1]
>>
>> Ref:
>>
> https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-August/010723.html
>> [2]
>>
>> I explained here why pay with difficulty is bad for everyone:
>> miners and users, and described the use of OP_CLTV for
>> pay-to-future-miner
>>
>> However, a general problem of pay-to-increase-block-size scheme is
>> it indirectly sets a minimal tx fee, which could be difficult and
>> arbitrary, and is against competition
>
>
>
> Links:
> ------
> [1] https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
> [2]
> https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-August/010723.html