Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
hdbuck
on 19/01/2016, 16:34:06 UTC
(There is an exchange in this forum, some years ago, where Greg says that the 1 MB limit is as sacred as the 21 M BTC limit, and he would not have put any time into bitcoin if Satoshi's design did not include it.  Gavin then points out that the 1 MB was not in the original design, and quotes Satoshi's Oct/2010 post where he explains that the limit could be lifted when needed by a simple 2-line patch and a routine hard-fork release.  I did not see Greg's answer.  Considering that he has never answered Mike's "crash landing" post either, I assume that he just shut that fact too out of his mind, since it did not fit his convictions...)
This one: https://bitcointalk.org/index.php?topic=140233.msg1492537#msg1492537

Bitcoin is valuable because of scarcity. One of the important scarcities is the limited supply of coins, another is the limited supply of block-space: Limited blockspace creates a market for transaction fees, the fees fund the mining needed to make the chain robust against hostile reorganization


Maxwell is totally clueless about the economics of Bitcoin. It's scary to read that from a guy so influential.

The blocksize limit and the 21 million BTC are two totally different economic beast. It takes a very high degree of cluessnessless to confuse the two.


why is your pseudo frecnh blog not up anymore? your inputs are so valuable.. much clue, such bitcoin expert.