Author: Mark Friedenbach 2015-08-11 07:08:42
Published on: 2015-08-11T07:08:42+00:00
The email thread discusses the issue of Bitcoin's scalability, with Thomas Zander arguing that a maximum size of 8MB blocks is not unusual given the potential for significant uptake of Bitcoin as savings. He argues that while transaction rates may not initially increase dramatically, Bitcoin will become an alternative to bartering in countries like Poland, Ireland, and Greece, causing transaction rates to rise. Zander also notes that exponential growth in the blockchain is expected, claiming that if companies can grow at 150% per month, then Bitcoin should be able to do so as well. Furthermore, he argues that Android experienced a substantially larger increase in size when it was about six years old and that Bitcoin offers policy neutrality that alternative architectures lack. The email thread also touches on issues of censorship, the threat of government repression and active censorship or regulation, and the need for Bitcoin to remain location-independent. In contrast, Mark Friedenbach argues that scalability should be defended with data and reasoned analysis and that storage and bandwidth will not be issues. He also suggests that the inverted bloom filters stuff could be used to solve the propagation time problem, but there are already deployed relay networks. Finally, he suggests that Bitcoin's strengths lie in its trustlessness via policy neutrality, rather than pursuing a course that would make it fundamentally uninteresting.
Updated on: 2023-06-10T18:33:46.409659+00:00