Quote from: Carlton Banks on August 30, 2015, 11:36:53 PM

Quote from: alani123 on August 30, 2015, 11:14:01 PM

Quote from: Klestin on August 30, 2015, 09:00:41 PM

Quote from: Carlton Banks on August 30, 2015, 02:59:05 PM

Semantic quibbling aside, let's address what alani clearly meant:

Why would anyone want to force the blocksize limit expanding at pre-set dates. Now, give a sensible reply to what was intended.

Let's start simple. Can you give a rational argument against immediately raising the block size cap to 8MB?

In short, an 8Mb block limit could:

Have devastating effects on the fee market

Since there's more space in each block, this space is now less valuable, fees might not be zero, but they'll be lead down to the minimum and competitiveness for fast transactions will be dead.

Bring nodes offline and make pools/miners less reliable

Mining basically becomes less and less economically viable over time under BIP101. Mining would need subsidising somehow, and so only those that can afford to do that will mine (i.e. losing money). The most concerning outcome would be large miners staying in the industry only to maintain control of the hashrate.

That doesn't sound half wrong to me. That's the Silicon Valley motto no? "Lose money, gain users!" Wink