Post
Topic
Board Bitcoin Discussion
Re: Bitcoin 20MB Fork
by
justusranvier
on 10/03/2015, 17:31:02 UTC
it means all the transactions which are allowd to be process become more expensive and the rest are prohibited entirely

Prohibited entirely?   Shocked

Please expand or point to a post where this is explained further...  thnx  Smiley
A 1 MB block size allows for about 250000 transactions per day.

Suppose that today 260000 people wanted to create a transactions.

At least 10000 of those transactions wouldn't happen. Maybe they'd be the 10000 transactions that paid the least in fees.

Perhaps tomorrow if only 230000 people want to use Bitcoin, then the 10000 transactions from today that didn't make it in will get processed late.

On the other hand, what if another 260000 people want to use Bitcoin tomorrow too?

In that case there will be 10000 transactions that are prohibited tomorrow, as well as the same 10000 transactions that were prohibited today.

Over the course of two days, 20000 people who wanted to use Bitcoin were not allowed to do so, and regardless how much everybody pays there will always be 20000 people who can't use Bitcoin.

If all 260000 people were willing to pay a $1, $10, $1000, or $1000000 equivalent transaction fee, still 10000 transactions will be excluded.