Author: Michael Gronager 2013-11-07 21:58:42
Published on: 2013-11-07T21:58:42+00:00
In this email exchange, Peter Todd discusses his calculation of the current fee being too small and suggests that there is no need to keep a maximum block size. He argues that the fork probability would automatically provide an incentive to not let blocks grow into infinity. Michael responds by agreeing with Todd's calculations and adds that the problem is inherent in Bitcoin's design, as regardless of what the blocksize is or how fast the network is, the current Bitcoin consensus protocol rewards larger mining pools with lower costs per KB to include transactions. Todd does not see a problem of rewarding economy of scale, as long as the effect is not too grave. The email includes links to other topics on Bitcoin development.
Updated on: 2023-06-07T19:55:43.079750+00:00