Author: Thomas Zander 2015-08-11 05:34:11
Published on: 2015-08-11T05:34:11+00:00
Pieter Wuille wrote that confirmation at a particular price point is reliable depending on the amount of demand at that price point and increasing the block size out of fear of what might happen fails to recognize sudden changes in demand. Wuille suggested an evolution towards an ecosystem that accepts there is never a guarantee for reliability unless you're willing to pay more than everyone else. Thomas Zander suggests creating working solutions such as LN, sidechains, etc., and moving the max-block size to a substantially bigger size to allow Bitcoin to grow. While LN is written, rolled out, and tested, they need to respond with bigger blocks like 8Mb - 8Gb to avoid bad publicity and ensure Bitcoin's survival.
Updated on: 2023-06-10T18:36:13.348755+00:00