Hi Greg,
I agree that miners may change their level of centralization. This neither
affects the model nor the results presented in the paper.
It has tremdous significance to the real-world impact of your results.
The paper makes no claims about miners changing their level of
I don't really see any problem with the paper:
All it states is that having the assumption that miners don't
centralize, transaction fees don't go to zero even without the
blocksize limit. I think we can accept this as a nice academic
research, and I believe that it's true.
Still, it doesn't have
I think that the argument for Peter's optimal block construction algorithm
(leading to the definition of the Fee Demand Curve) is that in the limit of
a mempool with a very large number of transactions, you should be able to
assume that for any given transaction [image: i] of size [image: s_i] and
Hi Daniele,
I don't think there is any contention over the idea that miners that control a
larger percentage of the hash rate, h / H, have a profitability advantage if
you hold all the other variables of the miner's profit equation constant. I
think this is important: it is a centralizing
However, that is outside the scope of the result that an individual
miner's profit per block is always maximized at a finite block size Q* if
Shannon Entropy about each transaction is communicated during the block
solution announcement. This result is important because it explains how a
minimum
On 8/30/2015 9:54 AM, Peter R wrote:
Like Daniele pointed out, the greedy algorithm assumed in the paper is
asymptotically optimal in such a case.
I'm convinced.
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On Sun, Aug 30, 2015 at 7:13 PM, jl2...@xbt.hk wrote:
This is based on the assumption that miners would always like to use up the
last byte of the available block size. However, this is just not true:
1. The 6 year blockchain history has shown that most miners have a soft cap
with their
Hi Wei,
As you know, I'm not a developer of Bitcoin-Qt, but we'll need to make our
best guesses for these answers if the developers won't reply. I'm going to
post my best guesses here so that people reading the list have a short
window of opportunity to correct me if they wish.
On Fri, Aug 7,
Before miners get angry, consider that whatever the community does will
attempt to preserve the efforts you have made to make Bitcoin a success.
Paragraph five, below, includes a provision to protect you, so please don't
write me off.
The competition is essential to protecting the data in the
Since my longer post seems to be caught in moderator purgatory I will
rehash its results into this much smaller message. I apologize for the
spamming.
I present a theorem whose thesis is obvious to many.
*THESIS: All hashrates* *h' h generate a revenue per unit of hash v'
v. *
Let us
Hello Tom, Daniele --
Thank you Tom for pointing out the knapsack problem to all of us. I will
include a note about it when I make the other corrections to the Fee Market
paper.
I agree with what Daniele said previously. The other non-greedy solutions to
the knapsack problem are most
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On 8/28/2015 5:00 AM, odinn via bitcoin-dev wrote:
No.
On 08/27/2015 01:10 AM, prabhat via bitcoin-dev wrote:
Hi,
I am proposing to create a AML-KYC module to control the network
and also qualify use cases in OFAC compliant
No No
On Aug 30, 2015, 14:47, at 14:47, s7r via bitcoin-dev
bitcoin-dev@lists.linuxfoundation.org wrote:
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On 8/28/2015 5:00 AM, odinn via bitcoin-dev wrote:
No.
On 08/27/2015 01:10 AM, prabhat via bitcoin-dev wrote:
Hi,
I am
jl2...@xbt.hk writes:
Rusty Russell 於 2015-08-26 23:08 寫到:
- We should immediately deploy an IsStandard() rule which insists that
nSequence is 0x or 0, so nobody screws themselves when we
soft fork and they had random junk in there.
This is not needed because BIP68 is not active
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Related:
https://github.com/bitcoin/bitcoin/issues/6568
Kristov Atlas via bitcoin-dev:
Hi Wei,
As you know, I'm not a developer of Bitcoin-Qt, but we'll need to
make our best guesses for these answers if the developers won't
reply. I'm going
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