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On 11/05/2015 04:25 p.m., Leo Wandersleb wrote:<br>
<span style="white-space: pre;">> I assume that 1 minute block
target will not get any substantial support but<br>
> just in case only few people speaking up might be taken as
careful support of<br>
> the idea, here's my two cents:<br>
><br>
> In mining, stale shares depend on delay between pool/network
and the miner. This<br>
> varies substantially globally and as Peter Todd/Luke-Jr
mentioned, speed of<br>
> light will always keep those at a disadvantage that are 100
light milli seconds<br>
> away from the creation of the last block. If anything, this
warrants to increase<br>
> block target, not reduce. (The increase might wait until we
have miners on Mars<br>
> though ;) )</span><br>
<br>
An additional delay of 200 milliseconds means loosing approximately
0.3% of the revenue.<br>
Do you really think this is going to be the key factor to prevent a
mining pool from being used?<br>
There are lot of other factors, such as DoS protections, security,
privacy, variance, trust, algorithm to distribute shares, that are
much more important than that.<br>
<br>
And having a 1 minute block actually reduces the payout variance
10x, so miners will be happy for that. And many pool miners may opt
to do solo mining, and create new full-nodes.<br>
<br>
<span style="white-space: pre;">><br>
><br>
> If SPV also becomes 10 times more traffic intensive, I can
only urge you to<br>
> travel to anything but central Europe or the USA.</span><br>
The SPV traffic is minuscule. Bloom-filers are an ugly solution that
increases bandwidth and does not provide a real privacy solution.<br>
Small improvements in the wire protocol can reduce the traffic
two-fold.<br>
<br>
<span style="white-space: pre;">><br>
><br>
> I want bitcoin to be the currency for the other x billion and
thus I oppose any<br>
> change that moves the balance towards the economically upper
billion.</span><br>
Because having a 10 minute rate Bitcoin is a good Internet money. If
you have a 1 minute rate, then it can also be a retail payment
method, an virtual game trading payment method, a gambling,
XXX-video renting (hey, it takes less than 10 minutes to see one of
those :), and much more.<br>
<br>
You can reach more billions by having near instant payments.<br>
Don't tell me about the morning caffe, I would like that everyone is
buying their coffe with Bitcoin and there are millions of users
before we figure out how to do that off-chain.<br>
<br>
Best regards,<br>
Sergio.<br>
<br>
<br>
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