Author: odinn 2015-08-12 00:32:20
Published on: 2015-08-12T00:32:20+00:00
The Bitcoin community is currently divided on the issue of how to increase the transaction capacity of the platform. While some developers and miners are calling for an increase in the block size limit from 1MB to 8MB, others argue that this would lead to centralization and decreased security. In contrast, they suggest alternative solutions such as off-chain transactions or dynamic block size adjustment.The debate has become quite heated, with both sides accusing the other of being irresponsible and putting the future of Bitcoin at risk. Some fear that if Bitcoin cannot scale, it will fail and set back the development of cryptocurrencies by a decade. Despite this, there are alternatives available such as Stellar and Open-Transactions which offer greater scalability but lack Bitcoin's unique property of policy neutrality.In light of this, the author of the email suggests that instead of trying to compete with VISA/Mastercard, Bitcoin should focus on playing to its strengths. They believe that Bitcoin's trustlessness via policy neutrality is a valuable asset and should be utilized. Otherwise, the author suggests working on Stellar because it is where things are headed otherwise.Overall, the email offers links to the bitcoin-dev mailing list and the author's website and Keybase profile. It highlights the ongoing debate within the Bitcoin community and the need to find a solution that meets everyone's needs.
Updated on: 2023-06-10T18:24:48.462276+00:00