Where communities thrive


  • Join over 1.5M+ people
  • Join over 100K+ communities
  • Free without limits
  • Create your own community
People
Activity
  • Jun 20 2016 02:11
    @alexvandesande banned @algotrader2013
  • Jun 05 2016 10:31
    @alexvandesande banned @adamskee
Brent Allsop
@BrentAllsop
OK, yea, now I’m understanding better. I’ve heard of other people ending up paying obscenely high fees. It sounds like what you experienced is a real problem Vitalik, and others are attempting to fix with EIP 1559. https://medium.com/@TrustlessState/eip-1559-the-final-puzzle-piece-to-ethereums-monetary-policy-58802ab28a27. However, some people are objecting to this change, so we just started a petition topic https://canonizer.com/topic/170-EIP-1559-Topic/1-Agreement to help build and track consensus on this as a solution. You could help us immensely to push this through, by supporting the consensus camp. It does require registration, to guarantee unique identity of supporters.
Greerso
@greerso
This isnt how any of this works. 1559 doesnt fix it either, the fees still need to be paid, they just get burned.
If a block has enough space for 100 tx and there are 1000tx the 100 highest bidders get in, the others go to the back of the line.
Miners arent setting the high gas fees or trying to extort more from you. If one miner did, another miner would step in.
this probably isnt the place for this discussion
Marquard Dirk Pienaar
@mdpienaar
i don't know of another place to raise serious problems about ETH governance. i seriously use the blockchain but am not a programmer with solidity etc.. using the infrastructure as supplied. please bear with me. had a look at canonizer, but did not use it. it seems too far out of my sphere of influence. please take note: i saw nothing in EIP 1559 to stop paying fees for failed transactions. that should stop without any doubt. whether a tip system should be implemented: a tip system should not be implemented because one of the main reasons cryptocurrency came into being is to counter the current fiat system's stealing of "intelligence" and transferring it to the powerful and rich, who develop others' ideas. a tip system will continue that because it will effectively place power in the hands of the rich, not in the hands of the innovative. a low fee per transaction should be the same for everyone.
Marquard Dirk Pienaar
@mdpienaar
first come first serve is the best policy. everyone must queue and wait to transact, being treated as equals. if it becomes relevant at investing, for example, selling/ buying etc., those who first get the good ideas will transact first; not the "intelligence" community, after "imparting of ideas", a fallacious utilitarian human right in utilitarian country Constitutions.
Marquard Dirk Pienaar
@mdpienaar
i opened a canonizer account and posted about EIP 1559 at: https://canonizer.com/forum/170-EIP-1559-Topic/1-Agreement/threads/365
Marquard Dirk Pienaar
@mdpienaar
Brent Allsop, i read the whole whitepaper of Canonizer. I qualified as Chartered Accountant (CA(SA)) during 1994 and researched "Accounting of/for Ideas" completing a Master of Philosophy in Philosophy degree during 2015. My work on the Ethereum blockchain grew out of 3 degrees, a professional accounting qualification, 10 years of financial management experience, 10 years of entrepreneural experience and 10 years academic research about my previous work experience. I left academia to develop Ipparts Exchange (IPPAEX) and a new political party (Federal Party SA - FPSA), aiming to unite left and right in one party in South Africa. FPSA could be the first political party benefitting from issuing of ERC20 tokens to raise funds and motivate politicians to act morally. I see you co-wrote the whitepaper and it seems you also have a philosophy background. It was the first paper i read fully in a long time. My views are based on my philosophy Intequinism. Intequity is a new word meaning capital of ideas. For 1000s of years, capitals of ideas have been important but a word never formed to name capital of ideas (intequity). Would you please let me know if my comment about EIP 1559 is not presented correct on canonizer's website. Philosophy about intequity is important in this regard, as it is very relevant with regard to EIP 1559.
Greerso
@greerso
“First come first served” isnt possible on a p2p network. The first tx my node sees in the US isnt the first tx, f2 pools node sees in China.
This isnt a governance issue it is a scaling issue.
The design of the network is such that there is a fee market for transactions to make it into blocks.
Marquard Dirk Pienaar
@mdpienaar
Does that mean the closest node to a customer, sees the customer's transaction first? Does it mean, if an enemy neighbor is a miner, he can identify enemies' transactions and influence mining negatively for those transactions.
Brent Allsop
@BrentAllsop

This isn't a governance issue it is a scaling issue.

I bet that if there were enough people to build and track a near unanimous consensus for anything like this, someone would find a way to make something at least close to this, work. Building enough consensus is the only hard part. Everything after that is easy.

And I bet the first crypto to achieve the ability to do things like that, without governance or censoring, just building and tracking consensus, will not only out compete all other cryptos, but will finally be able to scale large enough to start taking down HUGE established hierarches.
As long as cryptos keep forking, we won't be able to scale large enough to compete with much larger hierarchies.
Marquard Dirk Pienaar
@mdpienaar
The 276 USD fee was mined in China as far as i can see. It raises questions. Why wasn't the big fee mined in South Africa, where i initiated the transaction, reading that nodes in SA saw the transaction first. It was mined quickly. I'd guess in less than 20 seconds. Could it be a faster computer in China? I don't know. It's kind of de'moral'izing.
Greerso
@greerso

The 276 USD fee was mined in China as far as i can see. It raises questions. Why wasn't the big fee mined in South Africa, where i initiated the transaction, reading that nodes in SA saw the transaction first. It was mined quickly. I'd guess in less than 20 seconds. Could it be a faster computer in China? I don't know. It's kind of de'moral'izing.

Miners order transactions by bid price, every miner has access to every transaction in the mempool (each node has its own mempool), the order is just different between nodes. There is nothing nefarious happening, it is how the network is designed.

The problem you're having is blocks are full and DeFi creates a lot of traffic. People have CDP's worth millions and when price is volatile blocks fill with transactions. those people will pay hundreds in fee's to not lose thousands or millions and the rest of us can wait or pay high fee's too.
Greerso
@greerso
Actually start with the Bitcoin whitepaper, it does a great job of explaining the nature of p2p transactions and the problem of timestamping

As long as cryptos keep forking, we won't be able to scale large enough to compete with much larger hierarchies.

you'll never get 100% consensus. As long as there is 1 guy that wants bigger blocks you'll have a fork with bigger blocks.
Bitcoin solved trustless consensus with Proof of Work already.
Another interesting example of people coming to consensus over real world things is Auger, look past the gambling and at how the protocol works. It is a great way of finding the truth according to the majority while disincentivizing bad actors.

Marquard Dirk Pienaar
@mdpienaar
is it possible to set up an ETH wallet to point to a node, which points back to a wallet, and therefor mines transactions from that wallet in preference? can an organisation have their own node and mine own transactions on it for low cost? asking because with POS the electricity input cost reduced, but the fees increased.
Marquard Dirk Pienaar
@mdpienaar
thank you for the links Greerso. interesting talk about the "mempool".
Greerso
@greerso
You can mine your own transactions but youd have to oerform ‘work’ win blocks to do that. Would be cheaper to just mine on a pool and pay high the fees to get a tx into a block.
You are simply being outbid for blockspace. It is short supply vs demand. Nothing is going wrong. And many solutions are being worked on, 1559 not being one of them.