Author: Venzen Khaosan 2015-08-04 12:10:46
Published on: 2015-08-04T12:10:46+00:00
The bitcoin-dev mailing list has been the platform for different opinions on the topic of Bitcoin's block size limit. Hector Chu suggested that most people want larger blocks and would campaign for a reduction in the block size if they thought things got worse due to the block size. Pieter Wuille countered this by stating that proposals should be supported by data and research containing verifiable facts. He warned against setting the future path of Bitcoin based on uninformed opinions of the majority. Mike Hearn, a prominent Bitcoin developer, believed that removing the block size limit entirely was a good idea. However, he later agreed to compromise with an 8MB block size limit to find common ground with others. Jorge Timón asked how more users or nodes could bring more miners and improve mining decentralization. Venzen Khaosan explained that this was irrelevant and criticized Timón for failing to answer his question. Pieter Wuille argued that mining centralization increases with bigger block sizes. Still, Hearn disagreed, pointing out that more miners have joined the network despite the increase in block size. Wuille clarified that he was talking about the consensus maximum block size and not actual block size. Eventually, Hearn agreed that he understood the consensus block size maximum rule was a tool for limiting mining centralization.In conclusion, it is essential to understand the impact of different block sizes on mining centralization rather than just advocating for bigger arbitrary values. The discussion is about hitting the limit to make miners care more about fees. If this happens, non-urgent transaction fees will rise, and some use cases will eventually be priced out. The priority should be to increase the consensus limit without increasing centralization. However, the potential impact on market fees should also be considered. The writer is unsure of the other person's position on limiting mining centralization with consensus rules. They ask if the other person doesn't care about the consensus maximum block size rule because they don't think it limits mining centralization or because they don't care about limiting mining centralization at all.
Updated on: 2023-06-10T04:29:13.064509+00:00