Post
Topic
Board Bitcoin Discussion
Re: #Blocksize Survey
by
iCEBREAKER
on 15/09/2015, 21:13:16 UTC
An interesting slide from a Mark Friedenbach presentation at Scaling Bitcoin. Quite interesting indeed, worth watching: https://youtu.be/TgjrS-BPWDQ?t=11093 Jeff Garzik is next, btw.

Here's this block: https://blockchain.info/block/000000000000000003dd2fdbb484d6d9c349d644d8bbb3cbfa5e67f639a465fe
I wouldn't call it just interesting. Rather remarkable, as it shows exactly what people have been talking about. Most XT/BIP101 supporters aren't willing to admit or just don't understand this. Bitcoin in its essence does not scale efficiently. This is why technologies like the Lightning Network would be helpful. Even though such block is not a regular one, imagine a validation time of 2h 8min.
As seen clearly while Garzik was presenting, we're heading towards 1 MB blocks. However, as of today, blocks are not full. He did nicely present potential problems that we might encounter at the 1 MB wall. The whole economic policy is going to drastically change.

I was just talking to some Derp who believes their average Euro-pipe

could easily support two gigabyte blocks from home

How can we deal with such colossal levels of sheer ignorance?  Fire?  Or just drink until we can't read their stupid words anymore?