Re: Bitcoin XT - Officially #REKT (also goes for BIP101 fraud)

Hey. XT did light the fire under people to get something decided. We need bigger blocks, and the Core developers only care about selling themselves to Blockstream.

So give XT the respect it deserves

Agreed, even if you do disprove of XT, it has still been a catalyst for change.

both of you seriously needs to see the facts, at the moment some blocks doesn't reach even 500Kb but you both insist of increasing to something even higher? This whole block size thing is starting to early for bitcoin and who knows the real data knows that is just pure speculation started in the wrong time, and with this i hope you both can understand.

I think it would be better to increase the blocksize before we need to, as opposed to doing a hard fork at short notice, which could cause many other problems. If the blocks did become consistently full this would lead to transactions being rendered unreliable and more expensive. This would not be good for Bitcoin and would most likely lead to decreased adoption and damage the public perception of Bitcoin. This is the scenario that I would like to avoid by increasing the block size before this becomes a problem.

Quote from: Andreas Antonopoulos

Gavin is right. The time to increase the block size limit is before transaction processing shows congestion problems. Discuss now, do soon.

Listen, if all the block were between 500-750Kb i could see a real debate about increasing the size of blocks, but here we are talking that there are even blocks that aren't even of 100Kb, and we need to think even about the hard disk spaces because at the moment the max size of hard disk that people can buy is 8Tb, if we increase it without considering both the size of blocks and size of hard disks we are going to put limits to who can actually use bitcoins, you don't think so?

I agree with you that we certainly should consider the difficulty of running a full node but this does need to be balanced with the practical realities, including not limiting the amount of people that can use Bitcoin in favor of more people being able to run full nodes.

With an 8TB hard drive you will be able to store the entire blockchain for a very long time, even with thirty two megabyte blocks. Pruning is on its way as well and hard drive space is not even the primary limitation in regards to this blocksize debate, bandwidth and latency is.

I have studied history, which has taught me that unexpected things can happen in the world. It is possible that we will see a spike in adoption quite possibly due to some global event. I think that this is a real possibility which I think we should be prepared for.