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From: Gavin <gavinandresen@gmail.com>
In-Reply-To: <2081355.cHxjDEpgpW@crushinator>
Date: Fri, 28 Aug 2015 18:24:01 -0400
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To: Matt Whitlock <bip@mattwhitlock.name>
Cc: "bitcoin-dev@lists.linuxfoundation.org"
	<bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] Consensus based block size retargeting algorithm
	(draft)
Precedence: list

With this proposal, how much would it cost a miner to include an 'extra' 500=
-byte transaction if the average block size is 900K and it costs the miner 2=
0BTC in electricity/capital/etc to mine a block?

If my understanding of the proposal is correct, it is:

500/900000 * 20 =3D 0.11111 BTC

... Or $2.50 at today's exchange rate.

That seems excessive.

--
Gavin Andresen


> On Aug 28, 2015, at 5:15 PM, Matt Whitlock via bitcoin-dev <bitcoin-dev@li=
sts.linuxfoundation.org> wrote:
>=20
> This is the best proposal I've seen yet. Allow me to summarize:
>=20
> =E2=80=A2 It addresses the problem, in Jeff Garzik's BIP 100, of miners se=
lling their block-size votes.
> =E2=80=A2 It addresses the problem, in Gavin Andresen's BIP 101, of blindl=
y trying to predict future market needs versus future technological capaciti=
es.
> =E2=80=A2 It avoids a large step discontinuity in the block-size limit by s=
tarting with a 1-MB limit.
> =E2=80=A2 It throttles changes to =C2=B110% every 2016 blocks.
> =E2=80=A2 It imposes a tangible cost (higher difficulty) on miners who vot=
e to raise the block-size limit.
> =E2=80=A2 It avoids incentivizing miners to vote to lower the block-size l=
imit.
>=20
> However, this proposal currently fails to answer a very important question=
:
>=20
> =E2=80=A2 What is the mechanism for activation of the new consensus rule? I=
t is when a certain percentage of the blocks mined in a 2016-block retargeti=
ng period contain valid block-size votes?
>=20
>=20
> https://github.com/btcdrak/bips/blob/bip-cbbsra/bip-cbbrsa.mediawiki
>=20
>=20
>> On Friday, 28 August 2015, at 9:28 pm, Btc Drak via bitcoin-dev wrote:
>> Pull request: https://github.com/bitcoin/bips/pull/187
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