With any ideas on what the block size "should be", no matter how good they are, isn't the underlying problem that any change will require a hard fork? Isn't the idea of a hard fork, especially for something this controversial, at this point in the game, basically impossible?
I thought I read this proposal here, but I don't find it anymore.
It could be introduces that all Blocks of Miners that use the Hardfork are somehow "marked".
As soon as a overwhelming majority of all Blocks (for Example 85%) is marked, a countdown starts and in 10.000 Blocks the Hardfork is activated.
This way Damage and Chaos could be minimized.
But I see no way how this could be "patched" without creating some damage, chaos and still a majority would have to agree to this in the first place, which also isn't ensured.
I also think there is importance to this, as it gets harder to implement this with each passing day.
Correct me if I'm wrong here, I'm far from being an expert.
If the transaction fees are changed to algorithmically follow the block space as I expect would be an alternative solution to this, what will happen is that bitcoin will become expensive enough for an alternative crypto-currency to arise. An alternative to bitcoin which is cheaper will succeed and bitcoin will fail. Thus the only way to keep bitcoin alive is to allow for more volume, such that demand can be satisfied.
If it does ever come to bitcoin reaching it's limits, then I would be one to support another crypto-currency, as it would then be needed. I think this could be a good thing as it provides an opportunity to improve upon the many flaws of bitcoin with something new.
I think Bitcoin should be "patched" if possible. It would be devastating if we increase Bitcoin business further, finally get some Merchant on board, only to get to a point where it will become virtually impossible for a Merchant to use it.
Then when they are frustrated and dumping BTC we tell them, we now have a "better" cryptocurrency, so just use this instead.
This would mean back to field one for cryptocurrencys.