BIP - Block size doubles at each reward halving with max block size of 32M

Summary:

There is a difference between miners signalling intent (as they have been for various BIPs, which is mostly informational only - they are mostly not running the code, and in some cases it is not implemented), there is a difference between that and a 95% miner majority consensus rule. The way I see it, uncontroversial softforks are also expected to be upgraded to by everyone eventually. Currently bip99 recommends 95% miner upgrade confirmation with version bits (bip9) for uncontroversial hardforks just like it does for uncontroversial softforks. The advantage of softforks is that non-miners don't need to do it before activation like with hardforks. That's the only important difference between uncontroversial softforks and hardforks. Unilateral softforks and schism hardforks are another thing though. It is true that in the case of hardforks miners don't decide and it's the whole economy who has to upgrade before activation, but "the whole economy" and "all users" includes miners, so why not use the only upgrade confirmation mechanism that we have available? There's a couple of threads in the ml, a couple of now merged bip99 prs in bitcoin/bips. A hard-fork is for everyone to upgrade and talk with each other to see that the vast majority is on the same plan which includes users, ecosystem companies & miners.Digitsu argues that at the very least, miners matter (to what exact extent is debatable). And although there is no direct control of any party over the other in the strict sense, the public vocal opinions of any part of the Bitcoin economy does have an effect in its ability to sway the opinions of the other parts. Devs have even less of a choice in the matter. What is relevant is the economy: who do people want to spend their bitcoins with? There is no programmatic way to determine this, especially not in advance, so the best we can do is a flag day that gets called off if there isn't clear consensus.

Updated on: 2023-06-11T01:05:18.486850+00:00