Author: Adam Back 2015-12-17 03:48:29
Published on: 2015-12-17T03:48:29+00:00
The Bitcoin community has a range of opinions about input assumptions. However, if the same input assumptions are used, the same conclusions will be reached in a meritocracy. The proposed roadmap and soft-fork block-size increase and code that Pieter is working on have been rationalized to achieve many useful things both short, mid and long term for scale and other issues. There are varying opinions on the fee market and when it is safe to aim to be prepared to support it. The elasticity of block-size demand is being questioned as there are off-chain transactions. It would be good to see some work on preparing for fee markets, hence a best practice doc could be written asking people to prepare. Flexcap probably helps there because the block-size itself becomes elastic to demand (pay for bigger blocks). If we want to avoid a fee market for the immediate term, period 2 is more of a worry than period 1 or 3. Seg-wit is a better option as it brings us closer to lightning. Also, the question of time-frame that is safe for soft-forks or hard-forks is another input where views seem to vary. Not all requirements can be met, they are in a trade-off, so balance, planning and transparency are called for. Each proposal is trying to best meet those holistic user requirements. This is also a market, and we can discuss protocol tradeoffs without being melodramatic.
Updated on: 2023-06-11T02:16:35.265033+00:00