Author: Mike Hearn 2015-08-06 16:11:40
Published on: 2015-08-06T16:11:40+00:00
The debate about increasing the block size limit of Bitcoin has been ongoing for a while now. However, from a pure computer science perspective, the difference between 1mb and 8mb might seem irrelevant in terms of payment demand. But if we define "payment" as something resembling how current Bitcoin users use the network, then suddenly 1mb to 8mb makes sense and doesn't seem that small. The current user base is important to keep happy and buying things, as without users, Bitcoin is nothing. It will be quite hard to grow the user base by nearly an order of magnitude, but doing so would be a great achievement. Despite many efforts, killer apps that use Bitcoin's unique features are still hit and miss, and it remains to be seen whether they will stimulate huge new demand for transactions in the future.
Updated on: 2023-06-10T04:26:56.188753+00:00