Post
Topic
Board Bitcoin Discussion
Re: Blocks are full.
by
Lauda
on 03/03/2016, 18:54:15 UTC
I think SegWit is a good idea. It will have an effect and will bring bitcoin forward even in the future. It will cut down the space needed for transactions for a certain amount. Regardless of the amount of transactions and current blocksize. So even with 50MB blocks, Segwit might still be able to nearly double the amount. This is a good thing.
There are other benefits that come along with Segwit as well. It is not just about the transaction capacity.

Though I doubt that Segwit will be able to solve the situation fast enough. You know yourself that even when Segwit gets implemented today, the effect would only slowly rise to an effect bringing down the situation. And in the meanwhile the situation can always grow higher than our heads.
Actually this is a good thing. Even if we had a 2 MB block size limit today there is no guarantee that the miners would not impose limits of their own. The sudden bump is not needed. Depending on how much transaction capacity is needed, people are going to adopt clients that already support Segwit. If they don't do so, they are technically saying that they don't need/want more TPS.