8MB cap
Doubling every two years (so 16MB in 2018)
For twenty years
It is one thing to temporarily increase the size to give a bit more breathing room for sidechains , payment channels and the lightning network to be tested and another thing to simply double the limit every two years to remove the pressure of discovering more efficient means of scaling.
This is a horrible plan and one that I cannot support. (coming from someone that has defended Gavin and Hearn in the past
At first I thought you were being alarmist, but I came to the conclusion that you are absolutely correct once I realized as you did that:
- Increasing the block limit to X MB guarantees that every block will be exactly X MB
- Bandwidth is a limiting factor right now, since 1MB barely makes it over a 14.4k baud modem in 10 minutes, and that's the best we now have
- Miners have absolutely no control over block size whatsoever, and no method (such as transaction fee policies) to decide which transactions to include
- This proposed code change is permanent and can never ever be revised based on future facts