[Cryptography] Satoshi's PGP key.
bear at sonic.net
Sat Dec 19 19:14:28 EST 2015
On 12/19/2015 05:56 AM, Peter Todd wrote:
rs too) makes more money on all the other tx.
> I think you've stumbled on a well known phenomenon(1), but you're
> incorrect on two details. First of all miners don't have to pad their
> blocks with fee paying transactions, they can pad their blocks with txs
> that don't pay fees as well.
Well, sure, but what would be the point? If you do that, then
other miners are still likely to accept tx with fees below the
premium level you want to charge, so people who don't pay the
premium will still have their tx go through and you won't
effectively drive up the fee price.
> Unfortunately we're under heavy political pressure right now to raise
> the blocksize, or even remove the blocksize limit entirely. If this
> happens, the system risks being killed off through centralization as you
Heck, if it *doesn't* happen the partial-DOS works and the system
centralizes anyway. Pick your poison.
This isn't political pressure, this is math.
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