On 4/22/2014 9:03 PM, Matt Whitlock wrote: > On Tuesday, 22 April 2014, at 8:45 pm, Tom Harding wrote: >> A network where transaction submitters consider their (final) >> transactions to be unchangeable the moment they are transmitted, and >> where the network's goal is to confirm only transactions all of whose >> UTXO's have not yet been seen in a final transaction's input, has a >> chance to be such a network. > Respectfully, this is not the goal of miners. The goal of miners is to > maximize profits. Always will be. If they can do that by enabling > replace-by-fee (and they can), then they will. Altruism does not factor into > business.
The rational miner works hard digging hashes out of the ether, and wants the reward to be great. How much more valuable would his reward be if he were paid in something that is spendable like cash on a 1-minute network for coffee and other innumerable real-time transactions, versus something that is only spendable on a 15-minute network? There is a prisoner's dilemma, to be sure, but do the fees from helping people successfully double-spend their coffee supplier really outweigh the increased value to the entire network - including himself - of ensuring that digital cash actually works like cash? ------------------------------------------------------------------------------ Start Your Social Network Today - Download eXo Platform Build your Enterprise Intranet with eXo Platform Software Java Based Open Source Intranet - Social, Extensible, Cloud Ready Get Started Now And Turn Your Intranet Into A Collaboration Platform http://p.sf.net/sfu/ExoPlatform _______________________________________________ Bitcoin-development mailing list Bitcoin-development@lists.sourceforge.net https://lists.sourceforge.net/lists/listinfo/bitcoin-development
