Author: Jeff Garzik 2015-06-26 18:23:18
Published on: 2015-06-26T18:23:18+00:00
The debate about increasing block size in bitcoin has been ongoing for some time. Those who argue for larger blocks say it is necessary to increase utility, but others are worried that such a change could lead to sudden changes in economic policy and market disruption. Inaction, however, would lead to consistent fee pressure as the months tick on and system volume grows, which would inevitably lead to economic policy change. If businesses wait until the need to increase block size is acute, it would be too late; businesses will have permanently shelved plans to use bitcoin and change at that point would produce larger disruptions to the fee market. Hard forks require planning many months in advance. Gavin's timing is sound, even though the Gavin/Hearn Bitcoin-XT antics were sub-optimal.
Updated on: 2023-06-10T01:09:00.942441+00:00