Well the blocksize will always have to be increased, probably an automatic blocksize increase should be implemented in the protocol, say double every 4 years.
Either way if bitcoin adoption kicks in, a 1 MB size will be unfeasable, and even the current solution to make blocksize more efficient is also kickiing the can down the road.
The same with the lightning network and the other stuff, we all know block size has to be bigger, either by conserving space or raising the limit.
Either way if bitcoin adoption kicks in, a 1 MB size will be unfeasable, and even the current solution to make blocksize more efficient is also kickiing the can down the road.
The same with the lightning network and the other stuff, we all know block size has to be bigger, either by conserving space or raising the limit.
That makes a lot of sense sense. There must be a hard limit in the amount of efficiency you can achieve particularly when it gets to packing information into the blockchain.
The best solution probably is to chase both bigger space and efficiency. In other words moderately and gently increase block size to allow all network nodes to adapts while looking for protocol improvements like segregated witness to achieve better information storing and transmission efficiency.
Well the hard limit is the average internet bandwidth around the world *10 minutes.
Which is alot. Even if you have a shitty 1 mb/s modem you can carry 600 mb /10 min.
Now maybe that info needs to propagate through the network so give it like 9 min to do so. Even then you can easily put 60 mb under current internet.
And in the future you will see an increase in internet. Cable internet is not needed anymore, so even from africa with good wifi you can use bitcoin.
I have 100mb/s internet, so for me the 1 mb/s block seems ridiculous
