Author: Ken Friece 2015-08-06 16:33:13
Published on: 2015-08-06T16:33:13+00:00
The author of this context is a long-time Bitcoin user and supporter of BIP101. They argue against some common arguments against the proposed blocksize increase, stating that it's not guaranteed that we'll hit the limit again if a reasonable increase is implemented, and that alternative solutions like sidechains or lightning network can be used if necessary. The claim that increasing the blocksize will decrease full node count is also debunked, as users are more likely to support the network if they have direct access to the blockchain. The idea that any blocksize increase will be deemed "controversial" and lack developer consensus is challenged, as maintaining the status quo in the face of consistently full blocks is just as controversial. Finally, the author argues that simple solutions like BIP101 should be favored over complex ones like sidechains and the lightning network, and that miners will have ample notice of a blocksize increase and can adapt accordingly. The author concludes by hoping that developers come up with a reasonable long-term growth plan for Bitcoin.
Updated on: 2023-06-10T18:22:27.540298+00:00