Post
Topic
Board Bitcoin Discussion
Re: Bitcoin 20MB Fork
by
inBitweTrust
on 17/02/2015, 12:33:20 UTC
I'm still holding hope for a better proposal that isn't too complex.

Agreed, and thus this conversation. There is a time limit on this proposal and it isn't manufactured via our own sense of panic but by the fact that the combination in merchant adoption and halvening in 2016 will likely increase transactions and it may happen within a very short period of time thus a dynamic solution may be needed to prevent an additional last minute hard fork. The time limit IMHO is 2015 for the hardfork , and preferably by the second quarter. We also need to start preparing for the transition where we pay for security (miners ) with transaction fees vs block rewards as the reward continues to drop. Some suggest they would rather increase fees to ridiculous amount on par with w/u and moneygram but I would be more comfortable taking the approach of collecting larger amounts of smaller fees to have a competitive advantage with fiat and other alts.

A dynamic proposal that allows the "anti-spam" limit to increase and decrease may allow us to continue to search for other solutions while we have the backstop in place so we don't hit a crisis may be a good idea.