Author: Mike Hearn 2015-05-28 17:34:42
Published on: 2015-05-28T17:34:42+00:00
The context mentions the fear associated with a maximum block size of twenty in Bitcoin. The justification for the maximum size is to prevent DoS attacks, but when Bitcoin had an average block size of 10kb, the max block size was 100x the average without any issues. The max block size is limited by hardware capability which is difficult to measure in software. Some miners accept the defaults and the proposed change would make their target drop from 1mb to 800kb today. This seems crazy as it is the opposite of what is needed currently. The idea of developers deciding whether fees are too high or low is not preferred, instead, miners can attempt to apply fee pressure by not mining transactions that do not pay enough. An auto-cartel that restricts supply based on everyone looking at each other is complex and prone to strange situations. The block size limit was meant to prevent DoS attacks, not for fee pressure. Resource management inside Bitcoin Core should be handled by developers.
Updated on: 2023-06-09T20:11:55.490843+00:00