Author: Pieter Wuille 2015-08-10 14:34:55
Published on: 2015-08-10T14:34:55+00:00
In an email conversation between Gavin Andresen and Pieter Wuille, the issue of increasing the max block size in Bitcoin was discussed. Andresen argued that an increase is necessary to prevent the network from becoming unreliable and expensive as demand for on-chain transactions grows. Wuille agreed that unreliability is a problem, but argued that guaranteed time to confirmation is an unrealistic dream, and that making transactions cheap also makes them unreliable. He also pointed out that it currently only costs 1.5 BTC per day to create enough transactions to fill the block chain at the minimum relay fee, and assuming that rate remains similar with an increased block size, that cost will remain cheap.
Updated on: 2023-05-19T21:22:28.640387+00:00