Re: Thanks to people who support 1-2 MB blocks - great idea u fools... by
on
15/09/2015, 15:49:06 UTC However, with greater adoption of Bitcoin, there is a long-term secular pressure to increase the block size. Even for a conservative application of Bitcoin in global settlements, with low transaction volume per person per year, the transaction capacity needs to be raised well above the upper limits of most block size proposals
This means larger blocks are inevitable. Unfortunately, this means that data-center mining and full nodes may be inevitable too depending on hardware and network infrastructure performance over time. The centralization risk depends on the adoption curve, the degree that layer 2 networks remove transactions off-chain, and number of on-chain transactions that are attempted despite the presence of layer 2 systems.
Failing to raise the transaction capacity centralizes the number of actors with access to the blockchain, recreating a financial system that presently exists. Ironically, while the network may be able to run on anyones computer, none of the participants may be able to afford to use it. This scenario describes the left side of the Bitcoin failure bathtub.https://medium.com/@OB1Company/scaling-bitcoin-9366988972b6