Author: Thomas Zander 2015-08-10 22:04:52
Published on: 2015-08-10T22:04:52+00:00
The email conversation between Pieter Wuille and Gavin Andresen on August 10, 2015, focused on the issue of Bitcoin networks getting over-saturated and becoming unreliable. Andresen argued that an increase in the maximum block size was necessary to prevent the network from becoming both expensive and unreliable. Wuille agreed that growth in on-chain transactions was inevitable due to the vast potential for growth in the Bitcoin economy. He stated that it was not about guaranteed time-to-confirmation, but rather about confirmation before death. The fee market was deemed irrelevant to the block size because when transactions were consistently dropped as user count went up, the network lost value. Reliability was more important than speed or cost in the long run.
Updated on: 2023-06-10T18:27:11.211054+00:00