Author: Brooks Boyd 2015-06-19 11:48:54
Published on: 2015-06-19T11:48:54+00:00
In an email conversation, Mike Hearn argues that it is impossible to fix negative experiences with full blocks in Bitcoin. He explains that if the currency does not have sufficient capacity for everyone's transactions, some users will be kicked out to make way for others. This will result in some users finding their bitcoin savings uneconomic to spend. He cites a recent user complaint about Breadwallet asking him to pay over $10 network fee in order to send $2.82, leaving him with $2.50. Brooks suggests reducing the time between blocks to clear pending transactions in the mempool, instead of doubling the block size, which would allow mining to stay more decentralized since miners wouldn't be working on such large-scale blocks.
Updated on: 2023-06-09T23:24:27.430015+00:00