-
selsta
.merge+ 8145
-
xmr-pr
Added
-
nifty2[m]
hello, my monero gui wont close, it is constantly checking local node status. I dont understand why?
-
selsta
which OS? also did you close it while the wallet was still syncing?
-
nifty2[m]
selsta: windows. possibly, what effect would would it have? can i just restart?
-
selsta
also do you use Ledger?
-
nifty2[m]
never heard of that, no
-
selsta
ok, you can kill it with task manager
-
nifty2[m]
ah, thanks. its been steaming my computer for 3 hours
-
ErCiccione
Meeting here in ~2 hours:
monero-project/meta #652
-
ErCiccione
s/652/655/
-
Guest66
hi
-
selsta
meeting time :)
-
ErCiccione
It's meeting time!
-
ErCiccione
Hello folks! This is an important meeting focused on the next network upgrade (hard fork). Code freeze supposed to be on January 15th, but the changes needed haven't been merged yet. During this meeting we'll explore the status of these PRs, so that after we can decided new dates.
-
ErCiccione
After that, we will take a look at other features/changes waiting to be merged that would be cool to have in the next network upgrade, but that do not strictly require a hard fork. The full agenda is here:
monero-project/meta #655
-
ErCiccione
for reference, the logs of the last meeting are here :
monero-project/meta #633
-
ErCiccione
See also this excellent overview of the v15 hard fork:
monero-project/meta #630
-
ErCiccione
So let's start with a round of greetings to see who is here today.
-
ErCiccione
Hey everyone, thanks for joining.
-
ArticMine
Hi
-
vtnerd_
Hello
-
rbrunner
Hello
-
jberman[m]
:waves:
-
xmrscott[m]
Hello
-
Rucknium[m]1
Hi
-
moneromooo
hi
-
ErCiccione
Ok, let's proceed to the second point of the agenda:
-
carrington[m]
Howdy
-
UkoeHB
hi
-
ErCiccione
2. Ringsize 16. There were still some doubts during the last dev meeting. Do we want to confirm 16 as the next ringsize or more discussion is needed?
-
ArticMine
I say confirm
-
Scalability
+1
-
rbrunner
+1
-
rbrunner
Such a nice number :)
-
selsta
we also have to talk about multisig which currently isn't in the agenda as far as I can see
-
UkoeHB
ok with me, would have comparable verification costs to a likely seraphis implementation
-
xmrscott[m]
+1
-
rbrunner
selsta: It's in 5.
-
rbrunner
But sure a candidate for 3.
-
selsta
IMO it should be something we want to release before the hardfork
-
ErCiccione
yeah multisig doesn't require a hard fork, so we can discuss it later. Very important topic indeed
-
Rucknium[m]1
I support increase of ring size to 16.
-
selsta
but yes lets talk about it later
-
Scalability
16 ring size it is then, no?
-
ErCiccione
everyone present agrees on 16. That was easy. We can make it official at this point
-
ErCiccione
16 it is
-
ErCiccione
now let's talk about the r PRs that require a hard fork that still need to be merged:
-
ErCiccione
-
ErCiccione
The review of the PR seems to be still ongoing. @jberman could you give us an update of where things stand at the moment?
-
UkoeHB
We got some feedback about Siphash, from the Siphash author, on the view tag PR:
monero-project/monero #8061#issuecomment-1024939341
-
UkoeHB
jtgrassie and vtnerd_ were the ones expressing skepticism about it originally
-
jberman[m]
Commit coming today in response to rbrunner 's comments related to making sure there is a smooth transition at the fork (users who update wallets before the fork will have their tx's processed without view tags for a grace period, to allow smooth transition, and will include a way to not cause a breaking change on one of the internal structs)
-
rbrunner
Eagerly awaiting this!
-
jberman[m]
+ addressing their other comments
-
jberman[m]
there will also be merge conflicts between this PR and bulletproofs+, happy to take care of them
-
ErCiccione
Sounds good. Will it only need final reviews + merge after or are there other blockers?
-
rbrunner
I have the code of this PR running at my MoneroTech web wallet as "TechNet" as a functional test. Works beautifully.
-
jberman[m]
regarding the re-opening of Siphash versus Keccak discussion, whatever is decided there is super simple to change in the code. I already have the code using Siphash written
-
moneromooo
Without knowing the background, switching to a custom hash for only 1% or 2% speedup seems odd.
-
UkoeHB
To resolve that question, hopefully jtgrassie and/or vtnerd_ can respond to Mr. Aumasson
-
rbrunner
Personally I would like to forego that re-opening ...
-
jberman[m]
> Will it only need final reviews + merge after or are there other blockers?
-
jberman[m]
some downstream ecosystem folks will likely need new code to to handle view tags (wallets will need to use new code to construct/scan for tx's with view tags)
-
jberman[m]
- I don't know the extent of what changes will need to be made to accommodate them it will vary by software (not sure how much is re-used from the core repo)
-
jberman[m]
- these changes can likely need to be done alongside changes to support bulletproofs+ I would think
-
ErCiccione
got it. Usually we give enough time to members of the ecosystem to adapt to the post-hard fork changes, so that shouldn't be an issue.
-
rbrunner
So good we publish the software 1 month before hardfork, right?
-
selsta
yes
-
ErCiccione
if there are no further comments let's proceed to the next PR:
-
UkoeHB
View scanning is a central UX bottleneck, so I think it would be unwise to leave any inch on the table, for no compelling reason.
-
ErCiccione
3b. Fee changes from Articmine (
monero-project/monero #7819)
-
ErCiccione
The PR seems to be mostly ready and reviewed. Only some minor conflicts that need to be fixed. moneromooo could you give us a quick update?
-
selsta
UkoeHB suggested a second review
-
moneromooo
AFAIK this is ready. Let me go see the last comments...
-
rbrunner
"second review" as in "more eyes"?
-
moneromooo
Yes, nothing since, so nothing to add.
-
UkoeHB
IMO all big PRs need at least 2 reviewers.
-
jberman[m]
I can review this
-
carrington[m]
Are the growth numbers from Justins comment here accurate? If so, I have grave concerns about chain growth attacks
-
carrington[m]
-
carrington[m]
Especially in light of the flood attack last year
-
UkoeHB
My estimate is Monero won't be able to realistically exceed Bitcoin volume:
monero-project/research-lab #91#issuecomment-1018641072
-
jberman[m]
I'll review 7819
-
UkoeHB
Might be worth contemplating an upper limit on block size
-
ArticMine
No
-
UkoeHB
To avoid stability problems around verification costs
-
ArticMine
This has caused very serious problems for bitcooin
-
ErCiccione
thanks jberman 🙂
-
ArticMine
Thanks jberman
-
UkoeHB
ArticMine: bitcoin doesn't have a verification bottleneck
-
carrington[m]
The combination of allowing 14x growth in block size per year with the very low fees could lead to a disaster
-
ArticMine
Verification can be addressed
-
UkoeHB
How?
-
ArticMine
With the use of graphic processors and multithreding
-
UkoeHB
That only kicks the can, it doesn't solve it
-
ArticMine
Actually it does
-
ArticMine
once we take a hard look ant the numbers
-
UkoeHB
your next project...?
-
ArticMine
The overall limit is bandwidth by the way
-
ArticMine
I have been looking hard at this
-
UkoeHB
In any case, answering this question is the same as 'contemplating the need for a block size limit'. Let's not answer it in this meeting.
-
UkoeHB
However, does it need to be answered before the fee PR can be merged? carrington[m] 's concerns
-
carrington[m]
Limiting verification to GPU owners is a TERRIBLE tradeoff IMO. Dynamic block size is fantastic up to a point, but there are other ways to scale transactions.
-
rbrunner
Well, what's allowed *now* as a yearly blocksize growth?
-
luigi1111w
hello i'm sorta here
-
ArticMine
Most consumer device have intergrated graphics that can be used
-
selsta
most servers don't
-
selsta
by default
-
rbrunner
And drivers can make you crazy.
-
ArticMine
No with current tools such as Open CL
-
xmrscott[m]
Also agree limiting to GPUs is a bad idea especially given current shortage of them
-
UkoeHB
rbrunner: I think the longterm median can rise 5x per year with current growth rate
-
carrington[m]
Reminder that last year someone added 700MB to the block chain for $1000 in fees
-
ArticMine
Yes but no on a sustained basis this is the reason for the long term median
-
ArticMine
The cosst of the kind of span adds up
-
ArticMine
spam
-
carrington[m]
-
UkoeHB
The short-term can rise up to 50x the long term. So you could have 75MB blocks after one year of maximal growth.
-
ArticMine
I mean in that example the LT median dod not even move at all
-
ErCiccione
seems like there are some heavy skepticisms about this. Maybe it needs more focused discussion before we include it in a network upgrade?
-
selsta
or a separate MRL meeting for this?
-
ArticMine
It has been hashed over and over agan
-
UkoeHB
The fee PR is necessary, the question is about growth rate.
-
carrington[m]
100%
-
ArticMine
The growth rate of the LT median is necessasry over the short term
-
ArticMine
2 - 3 months
-
ArticMine
Any dynamic blocksize can be scaled to insane limites given enoght time
-
ArticMine
insane limits
-
Scalability
think the fee PR has been discussed for months since artic first came up with it. similar to beating a dead horse. beyond deliberating further, why not run a quick poll for yes or no and move forward depending on the outcome? akin to how we reached final consensus re: ring size bump 16.
-
Scalability
just sayin.
-
ErCiccione
Clearly more discussion is needed, let's have this discussion in a dedicated MRL meeting, let's move on to the next point
-
jberman[m]
I agree a cap of 14x/yr seems high, and I agree it would be ideal to target CPU's to allow syncing on any commodity device, raspberry pi or server included. I'm for another MRL meeting to discuss
-
ArticMine
commodity devices have graphics
-
carrington[m]
As Justin pointed out, hitting a growth ceiling doesn't break the network. It just causes a temporary fee market. We don't have to rely on a fee market to exist like BTC, but avoiding it completely in exchange for huge chain bloat is nonsensical to me.
-
ErCiccione
please set a date for a focused discussion on this, we need consensus on such important change and until that's reached, there is no point in discussing it here. Moving on:
-
carrington[m]
Sorry, JustinE to be clear
-
ArticMine
Actually it can trigger the issue 70
-
UkoeHB
There is a point where normal node operators have to shut down, since they can't verify new blocks fast enough. And also a point that happens way earlier than that, where normal node operators can't verify the chain, since it takes too long to catch up. These breakpoints are stability issues for the network, and they have NOT been discussed.
-
ArticMine
If we allow the st median boe be above the lt median for an extend pereiod of time
-
Rucknium[m]1
Would it be advisable to implement a slightly more complicated blocksize limit function to permit short-term spikes (to accommodate sudden adoption), but not allow huge cumulative growth over long periods?
-
ArticMine
That is what the LT median does
-
UkoeHB
Ok ErCiccione we will address it in the next MRL meeting.
-
ErCiccione
yes please, let's move on
-
carrington[m]
This seems like a good problem for that guy who was looking into the difficulty adjustment recently, control theory and all that
-
ErCiccione
-
ErCiccione
Not much action on the PR lately. Are we waiting for more reviews moneromooo?
-
moneromooo
Why ? Come on, they're discussing something importand and on topoc.
-
moneromooo
At least wait till they're both done.
-
selsta
ErCiccione: vtnerd is working on the review
-
ErCiccione
moneromooo: we have a lot of point in the agenda and this is a discussion that has been going on for a long time. If we want to use this meeting to discuss this sure, but i think the hard fork is more importna, especially because we are already postponing it
-
UkoeHB
moneromooo: could you amend the PR comment for 7170 with a link to the audit report on BP+?
-
moneromooo
Gah, november, ping me if you comment on a PR from me :S
-
ErCiccione
there is always time at the end of the meeting to discuss whatever, but at least let's try to organise this HF first
-
moneromooo
I dio not have the audit report. No idea where it is.
-
UkoeHB
-
moneromooo
ty
-
ErCiccione
ok, so waiting for vtnerds final review and then can be merged i guess
-
selsta
yes
-
ErCiccione
so, the situation is: 2 of the 3 PRs that require a hard fork are mostly ready to go. The issue is with the fee changes, since there seems to be some disagreements.
-
ErCiccione
Do we feel comfortable in already talking about dates or we want the discussion about the fee changes to be completed first?
-
carrington[m]
To clarify, the theory AND implementation of BP+ have been audited, yes?
-
selsta
yes
-
ArticMine
The fee changes are predicated on the LT median scaling
-
jberman[m]
I think it makes sense to wait until the fee change discussion is completed so we don't end up putting out more conflicting dates
-
Scalability
discussion re: fee changes is to occur wednesday next week. there are three other potential PRs that could be included before hf as per agenda
-
ArticMine
So we need to dealt with fee change dicussin before we proceed with the dates
-
ArticMine
for the HF
-
selsta
it would be good to have bp+ merged soon so that we can contact hardware wallets for integration
-
ErCiccione
jberman: my feeling too
-
carrington[m]
A dedicated MRL meeting sounds good, I'll be there
-
dEBRUYNE
<selsta> it would be good to have bp+ merged soon so that we can contact hardware wallets for integration <= +1
-
ErCiccione
let's freeze the hard fork until the fee discussion is completed then
-
dEBRUYNE
We need to be aware that third-party wallets may also require code changes
-
dEBRUYNE
So they need to be properly informed of the changes (view tags and BP+)
-
ErCiccione
yeah we will do the usual code freeze
-
ErCiccione
+ let everyone know.
-
ErCiccione
*plus let everyone know
-
jberman[m]
I'm happy to assist any ecosystem participants with needed changes too
-
dEBRUYNE
Right, but want to point out that we may have to allot a bit more time
-
dEBRUYNE
Or we need some people dedicated to reaching out and assisting (thanks jberman[m] for offering already)
-
carrington[m]
To confirm, if wallets haven't implemented viewtags at the hardfork will their slower previous method continue to work?
-
UkoeHB
yes
-
ErCiccione
dEBRUYNE: I think we are in a good spot, we have more people that could help compared to the past hard fork. ANd things went always fine in past
-
selsta
most normal wallets use wallet2 so it should be a non issue for them
-
moneromooo
That explains why it's a candidate for a fork so fast. Nice :)
-
jberman[m]
UkoeHB: wallet scanning could still work in theory, but parsing/serializing will probably cause issues. Plus, if we require view tags as the PR does, then they won't be able to construct tx's
-
UkoeHB
true
-
jberman[m]
the PR as is has a grace period, which I think moneromooo you were intended for BP+ as well?
-
dEBRUYNE
ErCiccione: True, but still would like it to go as orderly as possible and not cause any users to not be able to properly use their wallets
-
jberman[m]
sorry, willl have a grace period
-
ErCiccione
dEBRUYNE: of course. 100% agree
-
Scalability
any comments re: multisig PR?
monero-project/monero #7877 UkoeHB vtnerd_
-
moneromooo
I don't remember whether I added a placeholder fork. A double fork is probably best.
-
jberman[m]
-
ErCiccione
yeah double fork is what we did in past no? 1 fork adds the changes the other one enforces them?
-
UkoeHB
I believe vtnerd_ needs final approval, and h4sh3d also said he is reviewing the changes I made.
-
vtnerd_
Reviewing it, probably a ship it soon
-
moneromooo
When needed, yes.
-
ErCiccione
Scalability: will talk about that in a bit
-
jberman[m]
I have a commit for view tags will submit today that also implements double fork
-
Scalability
thanks vtnerd_ UkoeHB.
-
jberman[m]
what do we want the spacing in between forks to be?
-
dEBRUYNE
ErCiccione: Yes
-
moneromooo
Oh, that reminds me there was a bug with txes being checked when added to the pool before a fork, and not checked again at the fork.
-
moneromooo
Did that get merged ? I had a patch for this IIRC.
-
selsta
yes
-
selsta
it got merged
-
moneromooo
Thanks
-
jberman[m]
-
moneromooo
Your lookup speed is commendable :o
-
jberman[m]
hehe, I have these links from discussion with rbrunner in the view tag PR, who pointed out my view tag PR should also implement the double fork thing
-
selsta
luigi1111w: regarding the multisig crypto changes
monero-project/monero #8149, any news regarding extra review? you added the important label :D
-
luigi1111w
that's cuz it's important :D
-
luigi1111w
I hear someone is reviewing it, need to figure out their schedule though yet
-
rbrunner
Would be really nice to get the whole multisig stuff into the hardfork as well, for organizational reasons: Everybody will have to update.
-
luigi1111w
jberman[m] we should already double fork for ring size/bp I think, so it's ok
-
luigi1111w
rbrunner agreed, would really like to see all the ms fixes we have included
-
ErCiccione
rbrunner: yeah absolutely, we will need them for Haveno too, so the faster is in, the better
-
rbrunner
I made a lot of functional tests with them, up to 3/5 multisig, which all worked
-
jberman[m]
(the consensus rules I initially included for view tags didn't follow the double fork pattern is what I meant)
-
rbrunner
Does not replace reviews, of course, but still
-
ErCiccione
ok, there are other PRs that are marked as nice to have for the HF:
-
ErCiccione
-
ErCiccione
-
ErCiccione
-
ErCiccione
meeting time is almost over, so if anyone has anything to say about any of these, please go ahead
-
jberman[m]
Re: multisig, In the past I said I'd review, but I don't have the crypto knowledge to spot significant issues. h4sh3d I think is currently re-reviewing changes and does
-
selsta
jberman[m]: can you give an update on binning?
-
selsta
I think it's not planned for this HF
-
selsta
if I remember correctly
-
jberman[m]
The algorithm in the linked issue is in a state where it is review-able. Personally I don't feel I have compelling enough evidence to push it further i.e. it is not a critically necessary update in my opinion, and needing to find agreement on its parameter choices + getting the implementation into the code seems a tall task considering
-
selsta
so yes, I would remove it from the HF list
-
rbrunner
It's probably much too late to even try to get 7760 in, no?
-
selsta
monero-project/monero #7760 fixes so many existing bugs with the daemon it would be really nice to include it but I don't know yet how we will get it reviewed
-
selsta
but it's not something that requires a HF
-
ErCiccione
It's stuff that can be done regardless of the HF afaik, so it's ok
-
moneromooo
Maybe in a .1 right after the release ? That way it can get long term testing by people who update to it, but most merchants etc won't.
-
moneromooo
Though I guess it'd interfere with the usual brown bag fixes.
-
h4sh3d
Jberman[m]: ukoeHB: I’m on it, I think I can complete the re-review by the end of next week
-
rbrunner
So the fork release becomes something like an LTS release :)
-
selsta
I have been running it on my nodes for half a year now
-
Scalability
awesome, thanks h4sh3d
-
jberman[m]
^that sounds good to me
-
selsta
it's stable :D
-
ErCiccione
Nice! Anything else hard fork related? Otherwise we can end the meeting, as we are past the hour
-
moneromooo
For the fee issue, could the people who see a problem make a sample case (ideally worst case with ArticMine's current patch and worst case they'd be grudgingly OK with), then ArticMine can see whether he'd be happy with a parameter change that'd prevent those cases while still allowing enough growth ?
-
Scalability
view tags and bp+ almost ready to be shipped. fee pr to be discussed during mrl meeting next week. binning post-poned for now. it's looking good as far as i can tell...
-
Scalability
ErCiccione: i guess it would be wise to decide if we will have a follow up dev meeting next week, or in two weeks, to hopefully pick dates for hf?
-
selsta
multisig is also ready, just getting some extra reviews
-
ErCiccione
No need for a follow up meeting until the situation of the fee changes is clarified and consensus is reached IMO
-
Scalability
that is what the MRL meeting on wednesday is there for...
-
Scalability
there will be consensus because that is an hour long meeting run by UkoeHB.
-
UkoeHB
We will see
-
Scalability
if you want to be conservative, why not schedule the next dev meeting for dates in two weeks instead of one?
-
Scalability
either way there has to be another dev meeting. dates are to be decided still
-
ErCiccione
this is a discussion that has been ongoing for months, don't assume it will be clarified in one meeting
-
ArticMine
<moneromooo> For the fee issue, could the people who see a problem make a sample case (ideally worst case with ArticMine's current patch and worst case they'd be grudgingly OK with), then ArticMine can see whether he'd be happy with a parameter change that'd prevent those cases while still allowing enough growth ? Could this be posted to MRL issue 70
-
ErCiccione
I don't think there are the basis to schedule another HF dedicated meeting at the moment
-
Scalability
not assuming. it's been discussed for months. decisions have to be taken.
-
Scalability
OK.
-
ArticMine
and cross referenced to pull 7819
-
carrington[m]
I'll reread all the relevant threads etc. so I can have an informed opinion on Wednesday
-
ErCiccione
Ok the meeting is over folks. Thanks a lot for joining, next appointment is at the next MRL meeting, where fee changes will be discussed, but feel free to continue the conversation here now!
-
UkoeHB
thanks ErCiccione
-
carrington[m]
Thank you ErCiccione , high quality meeting
-
rbrunner
+1
-
dEBRUYNE
Thanks for hosting/leading the meeting ErCiccione!
-
jberman[m]
+1
-
ErCiccione
thanks 🙂
-
one-horse-wagon[
+1
-
carrington[m]
I'll post the logs
-
ErCiccione
<moneromooo> "Maybe in a .1 right after the..." <- This is a good idea IMO
-
moneromooo
That's what we did for... something, some... time ago. Can't remember what or when, but pretty sure we did :D
-
jberman[m]
Ah ya, I remember that was discussed in this vid:
youtube.com/watch?v=dQw4w9WgXcQ
-
ErCiccione
:P. jberman matrix preview ruins it 🙂
-
jberman[m]
couldn't help it
-
jberman[m]
for the IRC people :D
-
SerHack
.-.
-
ArticMine
mitchellpkt.medium.com/fingerprinti…ero-transaction-volume-a19cbf41ce60 <---- Blocksize remained well below the minimum penalty free zone of 300,000 bytes during the anomaly.
bitinfocharts.com/comparison/size-xmr.html#log&1y Going into the penalty zone above 300,000 means a 5x increase in fee just to get started. Then there is the requirement to maintain
-
ArticMine
the ST median for over 2 months just to move the LT median
-
ArticMine
It is not that simple
-
ArticMine
In any case the "attacker" stayed well away from the penalty.
-
sethforprivacy
Sadly missed the meeting, but thanks ErCiccione for hosting it! Will have to read through the logs and catch up.
-
dEBRUYNE
carrington[m]: Would you mind posting them on r/Monero as well?
-
dEBRUYNE
(the logs that is)
-
carrington[m]
Yes I'll make a post shortly
-
carrington[m]
ArticMine @ArticMine:libera.chat: my point with that article was more broadly "low fees are already a problem". Extrapolating, it seems that someone could grow the blockchain by 1TB for roughly $1.5 million without activating dynamic blocksize at all. If dynamic blocksize "organically" results in x14 blocksize over a year, that attack could be performed x14 times faster with a linear cost increase. These costs seem unacceptably low to
-
carrington[m]
trash the network completely. Please correct me if I've misunderstood.
-
carrington[m]
But then again I'm not sure what the cost of a 51% attack is at the moment, which is what it should be compared to
-
carrington[m]
I.e. the attack over the course of a few weeks becomes possible over a few days, leaving not enough time to upgrade hardware and knocking many nodes offline
-
ArticMine
Let us start with the current minimum fee. In order to have reliable scaling one needs an increase of 5x
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ArticMine
Now if there is organic scaling to say 32x. or ~100x the current tx rate. What is the impact of price in terms of constant USD?
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ArticMine
I did an analysis of this back in 2020 for a talk I gave on line. For Monero the value increase exponent is about 1.6 This is between 1 (linear) and 2 quadratic Metcalfe's lwa
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ArticMine
so we are talking about 1600x for the value of 1 XMR
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ArticMine
So one needs to estimate the cost of doubling the block size via spam from say a base of 10 MB
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ArticMine
vs the current situation
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carrington[m]
So the premise is that the base fee would be higher in fiat terms, increasing the cost of such an attack? I will watch your talk before Wednesday
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gingeropolous
i wonder if we could harvest difficulty / time to get a sense of the verification capability of the network. ... somehow tie the dynamic blocksize to difficulty...
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ArticMine
The total cost of increasing the blocksize by 2x not the base fee
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ArticMine
The base fee per byte is actually less in terms of XMR
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ArticMine
and can even fall in terms of USD at the expense of lowering the rate of growth
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carrington[m]
gingeropolous @gingeropolous:libera.chat: isn't difficulty related to hashrate which is not necessarily verifying transactions?
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ArticMine
For a constant rate of growth the base fee falls be a 32 for the same rate of growth
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ArticMine
in my example
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gingeropolous
carrington[m], yeah. my point isn't to tie it directly to difficulty, but to use those data as an "oracle", almost, to get a sense of what silicon can do
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ArticMine
for an increase of 32X in blocksize
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gingeropolous
like if we see a 32x increase in blocksize, but not an X increase in difficulty...thats different than seeing a 32x increase in blocksize and a Y increase in difficulty.
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ArticMine
At the bare minimum rate the fee in terms of XMR falls by a factor of 1024 in terms of XMR
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ArticMine
So in my scenario of 10 MB blocks with a 1600x in crease in price we have
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ArticMine
Cost of HAM (single tx) at minimum fee the increase in constant USD 5x1600/1024 7.8x The SPAM cost increase by an additional factor of 32
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ArticMine
so 250x
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ArticMine
The current rate
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ArticMine
The bottom line organic growth makes it way more expensive to spam the network once we factor in a reasonable increase in price.
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carrington[m]
There is a lot to think about here. It definitely seems like an area that would benefit from gaming out various attacks and comparing their cost to a 51% attack. I'm not sure I'm convinced by the "fiat spam price will increase under organic growth" argument (just looks at organic growth over the last year and overlay the fiat price, the correlation is not easy to see).
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carrington[m]
UkoeHB's comment on issue 70 is a good summary
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carrington[m]
In fact, Moneroans often like to contrast the price charts with the txn increase charts
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ArticMine
It is unsustainable over an extended period of time
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ArticMine
Even if one just consider the equation of exchange
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ArticMine
en.wikipedia.org/wiki/Equation_of_exchange One cannot simple keep increasing economic activity, have an effectively constant money supply and not have serious deflation
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wernervasquez[m]
Is there a good link where I can read up on what the issues are regarding the fee that are being discussed here?
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carrington[m]
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geonic
please define "a reasonable increase in price" :-)