That makes for kinda sad reading considering where we're at now.
And this guy nailed it a mere five and a half goddamn years ago. Maybe that should've been Satoshi's parting gift. I may not know anything about this stuff but I could've predicted that.
Only recently I learned about this block size limit.
I understand not putting any limit might allow flooding. On the other hand, the smaller your block, the faster it will propagate to network (I suppose.. or is there "I've got a block!" sort of message sent before the entire content of the block?), so miners do have an interest on not producing large blocks.
I'm very uncomfortable with this block size limit rule. This is a "protocol-rule" (not a "client-rule"), what makes it almost impossible to change once you have enough different softwares running the protocol. Take SMTP as an example... it's unchangeable.
I think we should schedule a large increase in the block size limit right now while the protocol rules are easier to change. Maybe even schedule an infinite series of increases, as we can't really predict how many transactions there will be 50 years from now.