block-size tradeoffs & hypothetical alternatives (Re: Block size increase oppositionists: please clearly define what you need done to increase block size to a static 8MB, and help do it)

Summary:

The security model of Bitcoin is based on decentralization which prevents double spending without the use of a trusted third party. However, Adam Back's statement about decentralization being key to Bitcoin's security model is vague and lacks definition and evidence. Therefore, it is important to have a more precise and accurate problem description. This will enable one to focus on helpful questions such as the incentives that exist to increase or reduce any tendencies for nodes to collude with miners or behave as trusted third parties. MAX_BLOCK_SIZE is also related to these questions.

Updated on: 2023-06-10T01:49:38.569101+00:00