Author: Jeff Garzik 2015-09-03 14:18:56
Published on: 2015-09-03T14:18:56+00:00
In this email conversation, Jeff Garzik, a Bitcoin developer, warns against schemes proposing to pay with difficulty or hashpower to change block size. He states that introducing such concepts could be unrealistic and potentially corrosive to the fee market. However, he does mention that Pay-to-future-miner has neutral, forward-looking incentives worth researching. The email also includes a response from an individual who explains why pay with difficulty is bad for everyone, including miners and users. This individual suggests using OP_CLTV for pay-to-future-miner instead. They also raise a general problem with pay-to-increase-block-size schemes, stating that they indirectly set a minimal transaction fee that could be difficult and arbitrary, going against competition. Overall, the email exchange discusses the potential drawbacks of certain payment schemes in relation to changing block size and highlights the need for further research into alternative approaches.
Updated on: 2023-06-10T21:58:38.612042+00:00