Why blocktime decrease instead of blocksize increase is not discussed? - page 2.

jl777

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Quote from: smooth on March 01, 2016, 04:19:31 AM

It has been discussed. There are threads here about it.

Does not really help with anything. The shorter block time has a comparable effect to larger blocks in terms of relay latency sensitivity. The bandwidth and storage requirements are unchanged.

There is an advantage in terms of faster confirmations, but a disadvantage in terms of longer header chains for SPV clients.

So overall, maybe worth considering, but overall kind of pointless.

doubling tx capacity is pointless?
supposedly dealing with the massive 1MB blocks are the issue that creates resistance to increasing the blocksize. Establishing a txfee market has nothing to do with this resistance. The miners absolutely dont want to make more money by forcing txfees up.

5 minute blocks of 1MB doubles the tx capacity and delays the txfee market that the miners say they dont want, since the block reward is all they care about. Whats a few satoshis worth of txfees anyway?

smooth

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It has been discussed. There are threads here about it.

Does not really help with anything. The shorter block time has a comparable effect to larger blocks in terms of relay latency sensitivity. The bandwidth and storage requirements are unchanged.

There is an advantage in terms of faster confirmations, but a disadvantage in terms of longer header chains for SPV clients.

So overall, maybe worth considering, but overall kind of pointless.

jl777

legendary

Activity: 1176

Merit: 1134

Quote from: bathrobehero on March 01, 2016, 04:00:18 AM

I don't think we ever have to go below 5 minutes. It's a great middle ground I feel. It doesn't have the disadvantage that pools require superb internet connection (like 2+ MB block sizes) and it's also virtually immune to orphans.
I also think transaction fees should be higher to prevent spam but most people hate that idea.

Blockchain bloat I think is a non-issue; internet bandwidth is increasing much faster and even SSD storage prices decrease in a much faster rate than the blocksize would increase. It might be even true even if the TX per second would be unlimited.

The blockchain is like 56 GB or so today and while that seems large, it really isn't. The smallest HDD you can buy is multiple times bigger than that. You can even fit the blockchain on SD cards/pen drives.

Edit: Ipoac Grin

When you can do a full blockchain sync in 30 minutes, there is no bloat problem.

I think a much bigger issue is the lack of standard for iporc. If pigeons are compared to rats with wings, then the rat lobby demands representation for ip packets encoded into bits of cheese. The technical challenges are immense, primarily due to consumption of the cheese prior to proper checksums are verified. However, I am assured that the rodents in general and rats in particular are confident that they will be able to create a more reliable packet routing than their flying counterparts

James

bathrobehero

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ICO? Not even once.

I don't think we ever have to go below 5 minutes. It's a great middle ground I feel. It doesn't have the disadvantage that pools require superb internet connection (like 2+ MB block sizes) and it's also virtually immune to orphans.
I also think transaction fees should be higher to prevent spam but most people hate that idea.

Blockchain bloat I think is a non-issue; internet bandwidth is increasing much faster and even SSD storage prices decrease in a much faster rate than the blocksize would increase. It might be even true even if the TX per second would be unlimited.

The blockchain is like 56 GB or so today and while that seems large, it really isn't. The smallest HDD you can buy is multiple times bigger than that. You can even fit the blockchain on SD cards/pen drives.

Edit: Ipoac Grin

jl777

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Activity: 1176

Merit: 1134

Quote from: bathrobehero on March 01, 2016, 03:10:19 AM

I mean I know the disadvantages of bigger block sizes but I can't think of any disadvantages to having like 5 minute blocks (with obviously half rewards).

Blockchain bloat is not an issue as it's practically all about block sizes anyway.
And of course Bitcoin is quite slow for today's standard so halving the blocktime would help both with that and the maximum TX per seconds as well.
Add 2MB blocks to the mix and the maximum TX per second is already quadrupled without any major effects that I can think of.

It's obviously not even discussed for a good reason but I'm curious what that reason might be.

Actually the real reason is that there is an active behind the scenes campaign from the avian lobby:

https://en.wikipedia.org/wiki/IP_over_Avian_Carriers

They have spent a lot of money on higher reliability and faster packet times. At the 10 minute blocktime, they have a chance. Dont take that away from them

James

jl777

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Quote from: bathrobehero on March 01, 2016, 03:10:19 AM

I mean I know the disadvantages of bigger block sizes but I can't think of any disadvantages to having like 5 minute blocks (with obviously half rewards).

Blockchain bloat is not an issue as it's practically all about block sizes anyway.
And of course Bitcoin is quite slow for today's standard so halving the blocktime would help both with that and the maximum TX per seconds as well.
Add 2MB blocks to the mix and the maximum TX per second is already quadrupled without any major effects that I can think of.

It's obviously not even discussed for a good reason but I'm curious what that reason might be.

its a slippery slope.
first its 5 minutes
then 4, 3, 2, 1

and well before that a lot of hashrate is wasted on orphans and then instead of very rarely seen a block only to see it replaced, it will become much more frequent.

Also, it will bloat the blockhain by 0.01% due to extra overhead of blockheader's 81 bytes
i guess it is 0.008% at 1MB blocks.

James

bathrobehero

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Activity: 2002

Merit: 1051

ICO? Not even once.

I mean I know the disadvantages of bigger block sizes but I can't think of any disadvantages to having like 5 minute blocks (with obviously half rewards).

Blockchain bloat is not an issue as it's practically all about block sizes anyway.
And of course Bitcoin is quite slow for today's standard so halving the blocktime would help both with that and the maximum TX per seconds as well.
Add 2MB blocks to the mix and the maximum TX per second is already quadrupled without any major effects that I can think of.

It's obviously not even discussed for a good reason but I'm curious what that reason might be.

Topic: Why blocktime decrease instead of blocksize increase is not discussed? - page 2. (Read 1818 times)