Author: Michael Naber 2015-08-11 20:56:45
Published on: 2015-08-11T20:56:45+00:00
In this email conversation, there is a discussion about whether the block size limit in Bitcoin should be removed or increased. Michael Naber argues that keeping a limit is important to prevent government by miners who could reject blocks that are too big, but he suggests that the limit should be increased to the maximum that technology can provide. He does not think that node count alone should be the metric for evaluating technology, but rather the goal of having an inexpensive chain validation process given the capabilities of present technology. However, the issue of maintaining enough geographic/political distribution to keep the network reliable is also important. Jorge Timón questions whether removing the limit would lead to centralization, and suggests that developers may move to a decentralized competitor. Michael argues that constraining Bitcoin capacity below the limits of technology will only push users seeking to participate in a global consensus network to other solutions which have adequate capacity. They then discuss the possibility of fees rising and pushing people to other altcoins as a consequence of hitting the limit.
Updated on: 2023-06-10T18:34:28.238242+00:00