[Bitcoin-development] instant confirmation via payment protocol backwards compatible proto buffer extension

Isidor Zeuner cryptocurrencies at quidecco.de
Tue Jun 17 15:58:45 UTC 2014


quote:
> On 6/16/14, Mike Hearn <mike at plan99.net> wrote:
> > If they decide to change to something like highest-fee-always-wins, then
> > they (again) centralise things by forcing all instant transactions to pay
> > GreenAddress and its competitors money - much though I like your product
> > Lawrence, let's hope they don't collectively lemming us all off a cliff by
> > doing that ;)
>
> Replace-by-fee doesn't imply the use of green addresses (there's other
> solutions to 0 conf transactions in that context, for example,
> "scorched earth"). And giving up the non-enforceable first-seen
> default mining policy doesn't mean "giving up on the Bitcoin
> experiment" either.
>

If something means "giving up on the Bitcoin experiment", then for
sure it's not one mining policy or another, but the assumption
that we should have one uniform mining policy. If we had a community
where enough miners had their own opinion about the best mining
policy, and expressed it by choosing an appropriate mining pool, then
we would have better decentralized mining based on selfish motives of
the miners, rather than based on an abstract thought of
"centralization is bad, so I will consider how much mining profit
from qualitatively interchangable mining pools I'm willing to
sacrifice in order to ease my centralization fears".

Best regards,

Isidor




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