Author: John Dillon 2013-06-10 04:59:45
Published on: 2013-06-10T04:59:45+00:00
The email communication dated June 10, 2013, is a discussion about setting the default for Bitcoin block size limits. The author of the email suggests that the default should not be set by wallets at all. Instead, by not voting, users accept the status quo, which is defined as the mean of the old and new limits in the past year. In other words, if the limit is 1MB and through voting it ends up at 2MB in one year, until then, by not voting, users are effectively voting for the limit to be 1MB. But after the next interval, not voting is equivalent to voting for a 1.5MB limit. The email further highlights a subtle issue with txout age, where a 1.5-year-old txout should be like voting for the 1MB limit still, albeit weighted less. The author suggests that sudden changes in votes should be avoided, making sure that at all levels, increases are gradual rather than abrupt, although the rate of increase may still be quite fast if the community votes that way.The author also likes how coin age is factored in the voting system so votes are hopefully proportional to Bitcoin asset ownership. The author hopes that users with no clue will leave their vote to the default chosen by the software developers, which will hopefully be 1MB.
Updated on: 2023-06-06T18:42:40.398917+00:00