Author: Mike Hearn 2015-07-31 12:15:04
Published on: 2015-07-31T12:15:04+00:00
The conversation between two individuals named Jorge and an unknown participant discusses the issue of centralization in Bitcoin. One participant argues that increasing block size won't help solve Bitcoin's centralization problem, while the other argues that larger blocks could lead to more users and nodes. The 8mb cap on block size was negotiated with Chinese miners and is high enough to ensure organic growth is not constrained. However, block size alone cannot solve all of Bitcoin's issues related to outsourcing, merchant reliance on payment processors, and user experience on phones and other devices. The motivation for setting up exchanges is profit, and removing the potential for future profit would remove the incentive to create valuable services.
Updated on: 2023-06-10T04:28:04.364144+00:00