Author: Jorge Timón 2015-06-19 11:31:26
Published on: 2015-06-19T11:31:26+00:00
In 2015, Mike Hearn argued that it was impossible to fix the negative experiences caused by full blocks in Bitcoin. He believed that if there was not enough capacity for everyone's transactions, some users would be kicked out to make way for others. This could happen in a stable or chaotic way, but the fundamental truth remained that some users would find their bitcoin savings uneconomic to spend.However, another user disagreed and argued that fixing the mempool and crashes, as well as hitting the limit, could solve these issues. This user believed that the limited size of the chain meant it was a scarce resource and people had to bid for it. They also suggested that those who believed the limit should be removed did not care about decentralized mining or failed to see the relationship between the two.Another user, GC, expressed concern about the timeframe for transaction fees topping block reward fees. They believed that based on the current ratio of block reward to fees, this would not happen for many years in the future. However, they also worried that space pressure could rise too late for a non-catastrophic transition from subsidies to fees. They felt that it was important to start doing something about it long before it became a significant issue.
Updated on: 2023-06-09T23:30:30.914543+00:00