Post
Topic
Board Bitcoin Discussion
Re: Montreal scaling Bitcoin workshop recap.
by
Zarathustra
on 14/09/2015, 18:39:53 UTC

The free market wants bigger blocks and stay ON chain. Stop standing on its way.
Bigger blocks =! centralisation because the market has an incentive to run full nodes at low cost. The free market will come up with these kind of device so you can continue to run a nodes for cheap https://bitseed.org/

The small blockistans have no real argument apart overblown fear of centralisation simply because they don't trust that the free market will come up with capacity solutions.

I'm wondering whether it is even possible for Bitcoin to enforce a rule that goes against the will of the market.  I strongly suspect the answer is "no."

(...)

If the market wants to be at Q*, but the production quota is forcing it to be at Qmax, what can a group do to continue to enforce the production quota against the will of the market?  How can the invisible hand be restrained?

Yes, either the Politburo (core) is capable to steer the Bitcoin market - or the Bitcoin market is capable to kill the Politburo (the tragedy of the core) if they refuse to listen to the market. I still bet on the market.