Peter Todd

Solution: impose economic costs on voting so that miners are incentivized to reflect user preferences. #ScalingBitcoin

Proposal: to increase, defer part of block reward; To decrease: reclaim previously deferred reward. #ScalingBitcoin

Allow users to increase or decrease sensitivity via bitcoin-days-destroyed weighted votes. #ScalingBitcoin

This scheme is derived from ideas by Greg Maxwell, Peter Todd, Meni Rosenfeld, and Jeff Garzik. #ScalingBitcoin

The code is written: https://github.com/maaku/bitcoin/tree/flexcap … #ScalingBitcoin

Future work: back-test it against corpuses of blocks and mempools. #ScalingBitcoin

Actually I'm still confused. How come miners aren't already incentivized to pick the blocksize which is optimal for users? #ScalingBitcoin

@zooko Optimal for users is ill-defined for starters... If you're Coinbase, optimal may not inclined anti-censorship that Silk Road needs.