Author: Pieter Wuille 2015-06-26 18:12:54
Published on: 2015-06-26T18:12:54+00:00
Pieter Wuille, a Bitcoin developer, addressed the issue of the block size debate in June 2015. He stated that economic change is inevitable regardless of whether larger blocks happen or not, but acting because of fear of economic change is a bad reason for increasing block sizes. The reason for an increase should be due to higher utility and necessity at some point, but there should be no rush. Pieter acknowledged that sudden changes in economic policy could lead to market and software disruption, but he was generally not worried. He believed that it was inevitable that some uses would move off-chain as the blockchain did not offer what they needed, regardless of the size. Pieter disagreed with the notion that a fear for a change in economics should necessitate larger blocks, and urged people not to be afraid of changes or try to stop them. He believed that the decision to increase the block size should be made based on increasing utility and understanding the risks, rather than out of fear.
Updated on: 2023-05-19T20:50:25.656582+00:00