Author: Bryan Bishop 2015-07-31 14:52:56
Published on: 2015-07-31T14:52:56+00:00
In a discussion thread on bitcoin-dev in 2015, Mike Hearn argues that increasing the block size won't necessarily increase decentralization. He argues that having more users, nodes and miners doesn't necessarily mean the system isn't centralized, as centralized services like PayPal also have trillions of users. He also disputes the idea that shrinking blocks will solve everything wrong with Bitcoin, but suggests that adjusting a single constant in the source code could be useful in tandem with some forms of campaigning to prevent centralization. Another participant in the thread questions the assumption that profits are higher when there are more users to sell to, and asks if this belief extends to P2SH and multisig.
Updated on: 2023-06-10T04:28:11.779757+00:00