Post
Topic
Board Bitcoin Discussion
Re: is Greg Maxwell wrong about the block increase?
by
jonald_fyookball
on 31/08/2015, 20:03:20 UTC
A lot of people on this forum act like there are no trade-offs in life. Can we have censorship-proof money that scales like VISA? Probably not. So mainstreamers better be careful what they ask for.


Why scaling bitcoin would make it be less censorship-free?
One can also argue than having to pay 100$ fee just to send a transaction is a form of censorship and exclusion. Anyhow, bitcoin is much more than just censorship-free money.

Well, how would you define it? For me, bitcoin's value is in being a decentralized, transferable token in limited supply. Essential to maintaining that definition is robust network security (and by proxy, a strong emphasis on consensus).

Do you believe that at no point, exponential scaling might result in serious threats to a) decentralization, and b) network security? Keep in mind that bitcoin has never scaled beyond a 1MB block limit (of course, on average it is nowhere near reaching this limit to begin with), and BIP 101 suggests scaling 8000x.

I'm sure there will be challenges but no one has presented a reason they couldn't be overcome.  We aren't there yet.

While Bip 101 may or may not be the best solution, I think the "lets wait till we have a backlog and then deal with it" approach can't be good.