Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
adamstgBit
on 12/07/2016, 01:37:19 UTC
Any idea when will the block size issue be fixed?

short answer, probably never
shorter answer, soon.

long answer,

There is no block size issue. Nothing is broken. there is a TX limit that is self imposed by the network because of the theoretical TX limit , which, if reached node centralization will occur ( altho there is a group of poeple that beleive node centralization was always part of the plan) , this limit is based on the internet speeds/bandwidth incurred by nodes.

this limit is meaningless for "private off-chain bitcoin TX" ( aka Lighting Network ), the current Lighting Network is in dev, i know of 2 project which aim to bring a second layer to bitcoin which will have practically no limit. they both depend on segwit implementation to be widely adopted. I believe segwit will take time to be widely adopted maybe a year, and by then the Lighting Network will be in great shape.

so in ~1year it should all come together and we'd see headlines like " bitcoin adopts new TX layer, which allows it to handle >100,000TX/sex ".