Transaction fee market without block size limit would lead to too low a level of security for Bitcoin: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2400519 …
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@NickSzabo4@adam3us the relay network@TheBlueMatt and its effects havnt been studied
@jony_levin @adam3us @TheBlueMatt If it hasn't been studied then why has it been deployed?
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@NickSzabo4@jony_levin@TheBlueMatt relay net reduces block transfer time by reference to already received tx, avoids sending tx twice. -
@adam3us@jony_levin@TheBlueMatt The problem must be awfully bad for an extremely bottlenecked TTP network to be the best solution. -
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@NickSzabo4@jony_levin@TheBlueMatt Its a point to point bump in line compressor. Problem is security agnostic users cut corners, always. -
@adam3us@jony_levin@TheBlueMatt There's a serious problem in educating miners about security (use of Amazon EC instances another example).
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@NickSzabo4@jony_levin@adam3us@TheBlueMatt FWIW, Coinscope paper by@socrates1024 is interesting (see part related to influential nodes) -
@LaurentMT@jony_levin@adam3us@TheBlueMatt@socrates1024 Link to Coinscope paper? -
@LaurentMT@NickSzabo4@jony_levin@adam3us@socrates1024 Indeed, the RN gives small miners access to those nodes without a ton of effort! -
@TheBlueMatt@LaurentMT@jony_levin@adam3us@socrates1024 And Mt. Gox gave users access to fiat/bitcoin exchange without a ton of effort. -
@NickSzabo4@LaurentMT@jony_levin@adam3us@socrates1024 RN is still a backup: miners can, with some effort, get good results w/o it -
@TheBlueMatt@LaurentMT@jony_levin@adam3us@socrates1024 You are selling as if they could safely come to depend on it, not as mere backup. -
@NickSzabo4@LaurentMT@jony_levin@adam3us@socrates1024 ummmmm...Go read the website, or look at what miners do in practice?
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@NickSzabo4@jony_levin@adam3us it has been studied, just not in paper form. -
@TheBlueMatt@NickSzabo4@adam3us have you got some good orphan data? -
@jony_levin@NickSzabo4@adam3us http://bitcoinrelaynetwork.org/stats.html , though orphan data is hard to get to be statistically significant -
@TheBlueMatt@NickSzabo4@adam3us would be good for the pools to be more transparent. The distribution is known. Data is the problem. -
@jony_levin@NickSzabo4@adam3us hmm? With orphans? Certainly it's not hard to get a list of most of the orphan blocks -
@TheBlueMatt@NickSzabo4@adam3us Propagation=>orphans. Could measure orphans or propagation delay between pools. Has no one done this? -
@jony_levin@NickSzabo4@adam3us prop time between pools is +/- the relay network... But, there is often significant prop time within pools -
@jony_levin@NickSzabo4@adam3us this is why you see spv mining - it's a much simpler solution than optimizing EVERYTHING else
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