I'm not sure I understand the incentive. It sounds like you are paying someone more for something you can get for less. Why would someone do that?
I think of it more as an incentive for an optimally sized network for blockchain security as well as monopolization prevention not punishment.
Are you saying there is no way to prevent monopolization? (BTW that was a heroic stretch...backdoor payments...did I hear something rip?)
As it stands now it looks like this is not the place to find the necessary resources to plug all the holes. I'll try some other stuff as well. If the holes aren't plugged Bitcoin was just a cute attempt at solving the double spending problem but became a billion dollar joke. And it wasn't even that funny. I've got a better joke and it's free (and quite appropriate).
Topic: the zatoichi fee recovery rate bitcoin enhancement (Read 745 times)
Sadly, even ignoring all the unspecified details, this sort of scheme can't work simply because its too easy to pay fees via a backdoor.
E.g. I give the miner a transaction with zero fee, but a txout paying a key owned by the miner. I give a different version to each miner. Now they are not subject to your fee punishment.
E.g. I give the miner a transaction with zero fee, but a txout paying a key owned by the miner. I give a different version to each miner. Now they are not subject to your fee punishment.
Okay it's easy to start a pool. But will it pay for itself? What if the going transaction fee requires a $50,000,000 investment to break even? I think if Bitcoin doesn't crash and burn before 2140, the players might well be the size of Google or Yahoo. There's a site now in Iceland shooting for 20% of the hashrate.
Am I going to get any useful suggestions? Goodness. I'll have to moderate if it doesn't improve. What I'm looking for is ideas on the "ideal" network size, how to determine whether that level has been breached, less important is what the curve should look like. Also what to do with the unrecovered fees which I assumed could just go back to the transaction creator.
Ideas, guys?
Am I going to get any useful suggestions? Goodness. I'll have to moderate if it doesn't improve. What I'm looking for is ideas on the "ideal" network size, how to determine whether that level has been breached, less important is what the curve should look like. Also what to do with the unrecovered fees which I assumed could just go back to the transaction creator.
Ideas, guys?
So you wanna start a search engine? Go ahead....make my day. How about a new operating system? You got that covered? It's called "barrier to entry". At some point nobody has the bucks to get in anymore. We can stop that with one tiny field (some aspects yet to be determined).
You can't compare these things.Making a new pool is not that hard, it's hard to attract miners.
In the end I hope we will have a good decentralized pool, free of p2pool's weaknesses. I have a few ideas and there's a thred with proposals to improve p2pool.
So that centralization won't be that pressing.
So you wanna start a search engine? Go ahead....make my day. How about a new operating system? You got that covered? It's called "barrier to entry". At some point nobody has the bucks to get in anymore. We can stop that with one tiny field (some aspects yet to be determined).
I am expecting positive suggestions from you guys, of course. Don't be so negative. It will all be worked out. You do see the need I hope. Or did you want to be the monopoly?
How does the monopoly prevent other individuals from creating their own mining pools and competing?
I am expecting positive suggestions from you guys, of course. Don't be so negative. It will all be worked out. You do see the need I hope. Or did you want to be the monopoly?
I propose that a fee recovery rate field be added to the bitcoin header. The purpose is to guarantee adequate competition and blockchain security. The fee recovery rate will default to 100 percent. If the number of nodes falls below an "ideal" level, the recovery rate is reduced along a defined curve.
Which header are you talking about? The block header?
How do you intend to determine the number of "nodes"?
Please define what you mean by "node". Are you talking about miners? Mining pools? Relay nodes? Nodes that store the entire blockchain?
How will you verify that the value placed in the block header by the miner (or mining pool) was accurate when they built the block header?
The value of the fee recovery rate at network size one (monopoly) is zero (e.g. no recovery). This prevents a transaction processor from becoming a monopoly in that as a transaction processor reduces its pricing below competitive rates, the fee recovery rate reduces their profit. The exact number for the "ideal" is yet to be determined. The method to determine if the number of nodes is below the ideal is yet to be determined. The curve for the reduction of the fee recovery ratio is yet to be determined. The field will probably not be required until 2140 but may then be essential to prevent a monopoly.
You've got an awful lot of stuff that is "yet to be determined". Please work out the details of your proposal and let us know when you find a way to make it work. Currently, your proposal is about as useful as declaring:
"I propose that we require everyone to behave in an honest and trustworthy manner. How we will determine if they are trustworthy is yet to be determined. How we will tell if they behave in a trust worthy manner is yet to be determined. How to enforce the trustworthy behavior is yet to be determined. This proposal will prevent all scamming in the future."
I propose that a fee recovery rate field be added to the bitcoin header. The purpose is to guarantee adequate competition and blockchain security. The fee recovery rate will default to 100 percent. This allows the processor to recover 100% of the included fees for transactions processed. If the network size falls below an "ideal" level, the fee recovery rate is reduced along a defined curve. The value of the fee recovery rate at network size one (monopoly) is zero (e.g. no recovery) . This prevents a transaction processor from becoming a monopoly in that as a transaction processor reduces its pricing below competitive rates, the fee recovery rate reduces their profit. The exact size of the "ideal" network is yet to be determined. The method to determine if the network size is below the ideal is yet to be determined. The curve for the reduction of the fee recovery ratio is yet to be determined. The field will probably not be required until 2140 when all activity is paid for by transaction fees but may then be essential to prevent a monopoly. Of course, this might not prevent a processor from "shooting the moon" (taking a loss in order to control the blockchain).
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