Author: Adam Back 2015-08-11 21:23:18
Published on: 2015-08-11T21:23:18+00:00
In an email sent by Michael Naber via bitcoin-dev, he argues that the main reason for Bitcoin's growth is its cheap transaction fees. He goes on to say that if Bitcoin fails to stay inexpensive, it will lose its competitive edge and be replaced by other forms of currency. Pieter Wuille, a Bitcoin Core developer, disagrees with this view, stating that the important characteristic of Bitcoin is its trustlessness - the ability to transact without relying on third parties. Wuille believes that consensus rules are what keeps the system together, so any changes to those rules should only be made when they are uncontroversial. While Wuille supports a block size increase, he believes it should only be done for the right reasons and not out of fear of rising fees or unreliability.
Updated on: 2023-06-10T18:29:20.291283+00:00