5 yr after 1MB, the network is much bigger, stronger, and more resilient.
Is the capacity of the network to handle large blocks 8x bigger, or 20x bigger? Is there a high degree of confidence that it can handle 1000x bigger blocks in 15 years?
I suspect the answer is yes. Here's what it might look like graphically:
If anyone can see a mistake in the above chart, please let me know. I'd like to post it to r/bitcoin once I'm confident it's correct.
It looks awesome.
I would like to see one more white label. The introduction of the 1MB limit to limit spam.
Smooth, you've made a good point about spam however how do we weigh up the trade offs between limiting money velocity and spam?
On that note if I look at Peter's graphic the space available for spam was relatively high after the introduction of the limit and orders of magnitude greater back then that with the 8MB jump.
On a gut level I'd go with a limit until we have a 6.25 BTC block reward, until then I see transaction fees as inconsequential the motive is smaller blocks that propagate fast, and later once block subsidies have diminished there is a pressure to include and optimize fees.