From: Will Madden <will.madden@bridge21inc•com>
To: Oliver Egginger <bitcoin@olivere•de>
Cc: bitcoin-dev@lists•linuxfoundation.org
Subject: Re: [bitcoin-dev] Core Devs : can you share your thoughts about all BIPs on this website ?
Date: Fri, 21 Aug 2015 07:34:45 -0600 [thread overview]
Message-ID: <B9E226E5-D7E7-4DC8-BCA7-64431523F318@bridge21inc.com> (raw)
In-Reply-To: <55D7250D.5@olivere.de>
Keeping the block size at 1mb restricts the number of active users of bitcoin to around 100,000 people transacting twice a day on blockchain.
BItcoin is a protocol. Protocols are successful because of their network effect. Capping the block size freezes bitcoin’s network effect, limits users and prevents new users from joining (which will cut demand to exchange bitcoin) and also freeze the economic incentive to mine, because it will hurt the price.
Keeping the 1MB cap in place is horrible for the health of bitcoin. It’s good for competing protocols that want a chance to “catch up”.
Freezing bitcoin’s growth for any meaningful length of time will threaten its position as the leading cryptocurrency. Reasonable, controlled growth is a good thing. BIP101 should be rolled into core as soon as feasible.
> On Aug 21, 2015, at 7:18 AM, Oliver Egginger via bitcoin-dev <bitcoin-dev@lists•linuxfoundation.org> wrote:
>
> Yifu Guo via bitcoin-dev:
>> One thing is for sure though, not increasing the blocksize is not an option.
>
> Why not? The blocksize increase eliminates the pressure to seek durable
> solutions. But it will turn out differently. Other than we all think.
>
> I really can not imagine that a 20-year plan will be successful. At one
> point we like to clear away the auto-increase. I think that is the only
> thing for sure at the moment.
>
> I hope that the current protocol and blockchain will be continued.
> Perhaps with fewer people. That would settles the matter for the time
> being. ;)
>
> - oliver
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev@lists•linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
next prev parent reply other threads:[~2015-08-21 13:34 UTC|newest]
Thread overview: 21+ messages / expand[flat|nested] mbox.gz Atom feed top
2015-08-19 4:57 Nicolas Dorier
2015-08-21 3:10 ` Btc Drak
2015-08-21 4:45 ` Gregory Maxwell
2015-08-21 5:10 ` Nicolas Dorier
2015-08-21 9:09 ` Btc Drak
2015-08-21 9:32 ` Peter Todd
2015-08-21 9:29 ` Peter Todd
2015-08-21 9:31 ` Btc Drak
2015-08-21 9:35 ` Peter Todd
2015-08-21 10:55 ` Yifu Guo
2015-08-21 11:28 ` Btc Drak
2015-08-21 12:28 ` Yifu Guo
2015-08-21 13:18 ` Oliver Egginger
2015-08-21 13:34 ` Will Madden [this message]
2015-08-21 17:31 ` Oliver Egginger
2015-08-21 18:07 ` Will Madden
2015-08-22 3:02 ` odinn
2015-08-21 16:58 ` Nicolas Dorier
2015-08-21 3:38 Nicolas Dorier
2015-08-21 3:45 ` Eric Lombrozo
2015-08-21 3:54 ` Nicolas Dorier
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