Author: Hector Chu 2015-08-04 12:19:18
Published on: 2015-08-04T12:19:18+00:00
In an email conversation between Jorge Timón and an unknown recipient, the two discuss Bitcoin's block size limit. Timón expresses that he has no position regarding the issue, but believes that the degree of mining decentralization should be a main concern rather than projections about usage growth. He also questions why hitting the limit at 1MB is more harmful than hitting it at 2MB, 8MB or 8GB. The recipient argues that users' main concern is timely confirmation of low-fee transactions, while miners' concern is the amount of profit they make. They also reference the economic majority, which miners are beholden to. In response to the suggestion of increasing the block size to 9MB instead of 8MB, Timón believes this will cause even more conflict. Finally, the two agree that a one-time increase to 8MB is safer than a dynamically growing limit over time to prevent unbounded block size increase.
Updated on: 2023-06-10T04:35:10.281277+00:00