Author: Peter R 2015-11-15 04:10:30
Published on: 2015-11-15T04:10:30+00:00
In this email exchange, Greg and Peter are discussing the technical aspects of Bitcoin, particularly its block size limit. Greg believes that accepting a 1.1 MB block of valid transactions is no different from accepting an invalid transaction that creates 10,000 BTC out of thin air. Peter, on the other hand, argues that there is a clear difference between the two and that allowing the creation of coins out of thin air would undermine Bitcoin's status as money. The discussion then turns to the nature of Bitcoin, with Greg advocating for a more rationalist approach that views Bitcoin's rules as immutable and deducible from the code, while Peter takes a more empirical view that emphasizes observation and experience. Peter questions whether Bitcoin even has a block size limit and whether it can enforce one against market forces. Greg counters that many aspects of modern money systems are politically negotiable and that Peter himself has written about self-regulating block sizes based on forever inflationary Bitcoins. The exchange ends with both parties maintaining their positions but agreeing to disagree on the details of political inertia surrounding Bitcoin.
Updated on: 2023-06-11T00:40:10.078132+00:00