sipa changed the topic of #bitcoin-wizards to: This channel is for discussing theoretical ideas with regard to cryptocurrencies, not about short-term Bitcoin development | http://bitcoin.ninja/ | This channel is logged. | For logs and more information, visit http://bitcoin.ninja
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<petertodd>
kanzure: probabilistic validation? I don't remember proposing that
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<instagibbs>
petertodd, he might be referring to the random beacon linearization stuff
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<kanzure>
petertodd: something about proof-of-publication (always?) requiring probabilistic validation..
<wasi>
kanzure: what you guys are missing in those 'papers' is that even then there is always an incentive to make the network useful as a miner, otherwise what's the point in mining ;). you could even today argue that miners should fork all the time and leave more high-fee transactions to the next miner..
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<wasi>
but at least now people see the 1mb limit as useful, even if it's for the wrong reasons. lol
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<adiabat>
the paper doesn't really mention the 1MB limit; it seems like they assume unlimited block size
<instagibbs>
they assume entire mempool can be consumed per block
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<Taek>
<instagibbs> they assume entire mempool can be consumed per block
<Taek>
I believe you can generalize their conclusions to a situation where the entire mempool cannot be consumed as well
<Taek>
the important dynamic is 'how much do I make by extending the longest chain' vs. 'how much do I make by trying to rewrite history', where the mempool influences that equation
<Taek>
if you can't consume the entire mempool, it means that your potential for extending the longest chain is lower
<Taek>
but it also means that the potential for an undercutter is also shorter
<Taek>
*lower
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