Quote from: klondike_bar on February 27, 2015, 03:38:34 PM

Quote from: Newar on February 27, 2015, 03:11:05 PM

Quote from: shmadz on February 27, 2015, 03:05:06 PM

Quote from: Afrikoin on February 27, 2015, 01:47:54 PM

Also can't read much of code but, larger block size is a GOOd thing. Why? more hashed information per unit block. Not just for bitcoin transactions, but for any information to be stored in a block and validated by the network. Can't you see why this is a good thing? bitcoin blocks can be used for more thanjust bitcoin transactions. good thing in my books.

The blockchain is already what? 30Gigs? 40gigs? That's a lot of storage and a lot of bandwidth. If you were to increase the size of the blocks it will become very costly for individuals to run full nodes, leading to centralization.

Also removes the idea of scarcity in the block. To maintain the incentive for the miners is to maintain the security of the blockchain. Once the reward gets cut down it is imagined that the fees will replace this incentive. Scarcity and an open market fee structure would hopefully provide enough incentive to keep the miners interested.

I'm not fully on the side of either camp just yet, any changes (or stubborn refusal to change) could result in unintended consequences. I'm just saying we should tread lightly.

Just because the block size is 20 MB doesn't mean they will be full at the time. Even with the current limit 1 MB hardly ever hit.

Bandwith and storage are getting cheaper as time goes on.

+1. i expect that technology will scale more quickly than the blockchain.

you can buy a 1TB harddrive for $50 (or a 128GB SSD for $100), and >2MB/s bandwith is pretty common now in major cities.
in 2-3 years from now youll buy a 1TB SSD for $100, and the majority of people in developed countries will have access to 5MB/s or better, with major cities having 10-20MB/s

Ps: i recently moved my blockchain files from my 128GB SSD to an HDD, and was shocked how much longer loading bitcoin-qt took. It went from being about 40-60 second loadtime to 3-4 minutes. SSD drives are the future, and will make read/write/storage of the blockchain quick and simple

SSD's are also actually cheaper to produce than HDD's, we are just paying premiums for them for obvious reasons. You can already get 1TB MSATA SSD's, so the tech is definitely there already to fit 4TB within a 2.5" enclosure. It won't be long until a 4TB, 2.5" SSD will sell for under $100. By the time the blockchain hits 4TB, we may even have quantum storage lol.