Quote from: ACCTseller on May 10, 2015, 04:10:42 PM

Quote from: MicroGuy on May 08, 2015, 04:06:36 AM

I think Bitcoin needs more radical development. This block adjustment needs to be done during the next radical update.

Here's an idea. Take 1% of each block reward and send it to an address controlled by the Bitcoin Foundation. This would provide revenue for development, branding, lobbying, etc. Alternatively, you can send them a % of the transaction fees. Call it a network fee.. whatever.

I'm not saying this is a good idea, but we need change. They say if it's broken don't fix it, but bitcoin is broken.

I think this is a really bad idea for a number of reasons. First of all this would centralize Bitcoin as the one entity (TBF) would be receiving all of the funding for Bitcoin development and most of the stakeholders in the Bitcoin world would likely be left out. Secondly, TFB has a very bad track record, has a history of poor transparency and probably more people then not would prefer TBF to be completely dismantled. And probably most importantly, the best people to finance the development of Bitcoin would be businesses and people who have a financial interest in seeing bitcoin succeed over the long run - examples of this group would be companies like Bitpay, mining manufacturers, and companies that do large amounts of business denominated in bitcoin

I agree this is a terrible idea. By the way the now centralized TBF would likely become a MSB under US law and be subject to MSB regulations. There is a clear lesson here from what recently happened to Ripple.

Now back to the thread topic. Increasing the 1MB blocksize limit is an absolute must for Bitcoin.