One argument I often hear people make against raising the block limit is the fact that we still have extra network capacity because the current average block size is well below the 1MB limit. This could not be further from the truth.

Millions of dollars worth of funding has been invested in Bitcoin companies so far in 2015, and many of these companies are developing what they hope will be the killer app for Bitcoin.

Imagine if a large tech company, like Amazon or Apple, were to put their full weight behind Bitcoin by promoting it and offering customers a discount to use it? I think such a move would almost instantly overwhelm the Bitcoin network, and these large companies know that so they won't do it until the Bitcoin network is ready...

What if NASDAQ or the NYSE wanted to record trades on the block chain? Again, right now that is a non-starter and would overwhelm the network.

The internet of things sounds interesting, but again, if IBM or Intel were to put their full weight behind it they could almost instantly saturate the Bitcoin network.

I don't know if raising the block size limit to 20MB is the right answer, but something needs to be done soon.

The sooner the community reaches consensus and comes up with a solution to the 1MB block limit, the better, because right now future Bitcoin growth is being seriously harmed by this limitation.