[Bitcoin-development] The Bitcoin Node Market

[Kevin Greene]

Would SPV wallets have to pay to connect to the network too? From the
user's perspective, it would be somewhat upsetting (and confusing) to see
your balance slowly draining every time you open your wallet app. It would
also tie up outputs every time you open up your wallet. You may go to pay
for something in a coffee shop, only to find that you can't spend your
bitcoin because the wallet had to create a transaction to pay to sync with
the network.

Also, users of centralized wallet services like Coinbase would not have to
pay that fee; but users of native wallets like breadwallet would have no
such option. This incentivizes users to use centralized wallets.

So this is kind of imposing a worse user experience on users who want to
use bitcoin the "right" way. That doesn't seem like a good thing to me :/

On Mon, Jun 15, 2015 at 1:12 PM, sickpig at gmail.com <sickpig at gmail.com>
wrote:

> Hi Raystonn
>
> On Mon, Jun 15, 2015 at 9:36 PM, Raystonn . <raystonn at hotmail.com> wrote:
> >
> > I am only partially through the content at the below link, and I am very
> impressed.  Has Justus Ranvier began work on implementation of the ideas
> contained therein?
>
> I don't know if he or someone else has begun writing code to implement
> what was described in the liked post, but I'm sure he will reply to
> you since he's subscribed to this mailing list.
>
>
> >
> >
> >
> > From: sickpig at gmail.com
> > Sent: Monday, June 15, 2015 12:18 PM
> > To: Raystonn .
> > Cc: Bitcoin Dev
> > Subject: Re: [Bitcoin-development] The Bitcoin Node Market
> >
> >
> > Sorry for top posting and the brevity but I'm typing from my phone
> >
> > You shoud be interested in this post by Justus Ranvier then:
> >
> >
> https://bitcoinism.liberty.me/economic-fallacies-and-the-block-size-limit-part-2-price-discovery/
> >
> > On Jun 15, 2015 8:57 PM, "Raystonn ." <raystonn at hotmail.com> wrote:
> >>
> >> I have been toying with an idea and figured I'd run it by everyone here
> >> before investing further time in it.  The goal here is to make it
> >> sustainable, and perhaps profitable, to run full nodes on the Bitcoin
> >> Network in the long term.
> >>
> >> - Nodes can participate in a market wherein they are paid by nodes,
> wallets,
> >> and other services to supply Bitcoin Network data.  Payment should be
> based
> >> on the cost imposed on the Node to do the work and send the data, but
> can be
> >> set in any way the node operator desires.  It's a free market.
> >> - Nodes that are mostly leeching data from the Bitcoin Network, such as
> >> those that do not receive inbound connections to port 8333, will send
> >> payments to the nodes they connect to, but will likely receive no
> payments
> >> from other nodes, wallets, and other services.
> >> - Nodes that are providing balanced full service to the Bitcoin Network
> will
> >> tend to have a balance of payments coming in and going out with regards
> to
> >> other balanced full service nodes, leaving them revenue neutral there.
> But
> >> they will receive payments from leech nodes, wallets, and other
> services.
> >>
> >> The net effect here is that the cost to run nodes will be shared by
> those
> >> who are using the Bitcoin network but not contributing by running a full
> >> node.  A market will develop for fees to connect to the Bitcoin Network
> >> which should help cover the cost of running the Network.  It's still
> >> possible to continue offering access to your node for free as there is
> >> nothing forcing you to charge a fee.  But this isn't very sustainable
> >> long-run.  Market efficiencies should eventually mean nodes take in only
> >> what is required to keep the Network operational.
> >>
> >> Raystonn
> >>
> >>
> >>
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