Note to small block adherents: Despite the name, Bitcoin Unlimited is not a "big blocks" implementation. It's simply an implementation that doesn't include a locked-down blocksize as part of the package. It lets the user set it. It could be 500kB if you like.
It's an accident of history that BU is being developed by big block supporters. It could have been developed by small block supporters for the exact same reason: to avoid the dominant Bitcoin implementation from doing something you consider foolish.
As I said in my first post, right now the leaders of the dominant Bitcoin implementation are for a low blocksize cap, but imagine if the situation reverses and big blockists are in control, to the consternation of many in the community. I think you would not want them locking down the settings. You might say, "You folks are doing fine otherwise, but you are off on the blocksize cap. Why try to play central planner? Please leave it up to the market if you are so sure the market will like your huge blocks. People will follow your recommendations if they like them anyway, so what are you worried about?"
If I were Core maintainer, I would do the same. Perhaps I would set a higher default, but I would not take the option away from the user. To do so risks sudden consensus shocks due to friction effects, risks my position being undermined silently, and most of all assumes I know better than everyone else. I might set it at 10MB. But I may be wrong; I'd rather trust in the market, because none of us knows better than a million people all with skin in the game.
Bitcoin Unlimited is just as much a small blocks implementation, guarding against the possibility of, say, Mike Hearn taking over Core, as against, say, LukeJr. Bitcoin Unlimited is simply against central planning of the blocksize. Instead, blocksize consensus would emerge from each user making their own decisions, signaling, coordination, debate, flag days, expert recommendations, etc. It prevents against centralization of developers in one implementation; again, today it's small block adherents in Core, but what if it became big block adherents? It might start to sound like a pretty good idea to let the market decide.
Under BU, all our arguments about blocksize become merely academic. We would be trying to predict what the market would decide, rather than vying over control of the One Ring of Power - the official/reference implementation of Bitcoin. Much rancor could be dispensed with. The market would do its thing and probably maximize value, and Bitcoin would continue, unable to be controlled by anyone. Just the way we like it.
It's an accident of history that BU is being developed by big block supporters. It could have been developed by small block supporters for the exact same reason: to avoid the dominant Bitcoin implementation from doing something you consider foolish.
As I said in my first post, right now the leaders of the dominant Bitcoin implementation are for a low blocksize cap, but imagine if the situation reverses and big blockists are in control, to the consternation of many in the community. I think you would not want them locking down the settings. You might say, "You folks are doing fine otherwise, but you are off on the blocksize cap. Why try to play central planner? Please leave it up to the market if you are so sure the market will like your huge blocks. People will follow your recommendations if they like them anyway, so what are you worried about?"
If I were Core maintainer, I would do the same. Perhaps I would set a higher default, but I would not take the option away from the user. To do so risks sudden consensus shocks due to friction effects, risks my position being undermined silently, and most of all assumes I know better than everyone else. I might set it at 10MB. But I may be wrong; I'd rather trust in the market, because none of us knows better than a million people all with skin in the game.
Bitcoin Unlimited is just as much a small blocks implementation, guarding against the possibility of, say, Mike Hearn taking over Core, as against, say, LukeJr. Bitcoin Unlimited is simply against central planning of the blocksize. Instead, blocksize consensus would emerge from each user making their own decisions, signaling, coordination, debate, flag days, expert recommendations, etc. It prevents against centralization of developers in one implementation; again, today it's small block adherents in Core, but what if it became big block adherents? It might start to sound like a pretty good idea to let the market decide.
Under BU, all our arguments about blocksize become merely academic. We would be trying to predict what the market would decide, rather than vying over control of the One Ring of Power - the official/reference implementation of Bitcoin. Much rancor could be dispensed with. The market would do its thing and probably maximize value, and Bitcoin would continue, unable to be controlled by anyone. Just the way we like it.